(ShareCast News) - M&S's chairman topped up his holdings just over a fortnight after the company's full-year results sent shares in the ubiquitous fashion retailer tumbling.On that occasion, the firm reported a 2.4% increase in revenues to reach £10.6bn, while pre-tax profit took a 19.5% hit to £483.3m, with the latter mainly down on account of impairments and asset write-offs.Nevertheless, the final dividend was upped by 3.9% to 18.7p.On 9 June, Robert Swannell forked out £99,024.07 of his own cash to pick up 26,298 shares priced at 376,55p each.That took his personal holdings in the firm to 169,298 shares.In the previous session, analysts at Morgan Stanley told clients they now had "increased conviction" the nearer-term risk-reward in M&S shares was "very favourable"."Last week's announcement that BHS is to be wound down should ease pressure on its competitors. We expect M&S to be the biggest beneficiary. While it is unlikely to change M&S's longer-term prospects, it increases our conviction that the nearer-term risk reward is now very favourable," analysts Geoff Ruddell, Anisha Singhai and Amy Curry said in a research report sent to clients.The stock closed the Thursday session 1.10% higher at 379.3p against the backdrop of a falling market, giving the firm a market capitalisation of £6,159.38m.Top Director BuysMarks & Spencer Group (MKS)Director name: Swannell,RobertAmount purchased: 26,298 @ 376.55pValue: £99,024.07Gresham Computing (GHT)Director name: Manocha,IanAmount purchased: 75,000 @ 96.00pValue: £72,000.00Croma Security Solutions Group (CSSG)Director name: Fiorentino,RobertoAmount purchased: 25,000 @ 37.00pValue: £9,250.00Croma Security Solutions Group (CSSG)Director name: Hewson,Andrew NicholasAmount purchased: 13,750 @ 38.18pValue: £5,250.00Croma Security Solutions Group (CSSG)Director name: Percy ,James Amount purchased: 5,500 @ 37.50pValue: £2,062.50North American Income Trust (the) (NAIT)Director name: Rice,SusanAmount purchased: 135 @ 906.58pValue: £1,223.88Foreign And Colonial Inv Trust (FRCL)Director name: Bone,RogerAmount purchased: 224 @ 443.40pValue: £993.22Foreign And Colonial Inv Trust (FRCL)Director name: Hewitt,JeffreyAmount purchased: 112 @ 443.40pValue: £496.61Prudential (PRU)Director name: Wells,Mike Amount purchased: 13 @ 1,308.50pValue: £170.11Top Director SellsNichols (NICL)Director name: Croston,Tim Amount purchased: 623 @ 1,428.00pValue: £8,896.44