Arden Partners COO buys shares after disappointing results

Steve Wassell, the Chief Operating Officer of stockbroker Arden Partners, purchased 195,000 in the stockbroker through his self-invested personal pension on Thursday.Wassell bought the shares at 43.50p each for a total of £84,825, increasing his stake in the company to 373,743 shares, equal to around 1.5% of the issued share capital. On Monday the company reported a decrease in revenues to £5.6m (2011: £7.4m), halving profit before tax to £0.6m (2011: £1.2m). Basic earnings per share fell to 1.7p (2011: 3.7p), with the firm blaming the declines on the ongoing Eurozone problems. "Revenues and costs were in line with our expectations and management continues to focus on driving the cost base to maximise profitability and cash generation," the firm said. It issued a dividend payment of 0.65p per share (2011: 0p), citing the continued cash generation and inherent strength of its balance sheet. "Arden's second half pipeline is good, but as ever, remains market dependent," the company added. Top Director BuysArden Partners (ARDN) Director name: Mr Steve WassellAmount purchased: 195,000 @ 43.50p Value: £84,825Cyan Holdings (CYAN) Director name: Mr John Cronin Amount purchased: 5,625,000 @ 0.38p Value: £21,375Tri-Star Resources (TSTR) Director name: Mr Brian Spratley Amount purchased: 3,500,000 @ 0.56p Value: £19,600Tri-Star Resources (TSTR) Director name: Mr Jonathan QuirkAmount purchased: 3,500,000 @ 0.56p Value: £19,600Fairpoint Group (FRP) Director name: Mr John GittinsAmount purchased: 16,667 @ 60.00p Value: £10,000Top Director SellsLondon Stock Exchange Group (LSE) Director name: Mr Xavier RoletAmount sold: 52,185 @ 1,000.80p Value: £522,267London Stock Exchange Group (LSE) Director name: Mr Raffaele JerusalmiAmount sold: 43,318 @ 1,000.80p Value: £433,527Fuller Smith & Turner (FSTA) Director name: Mr M J TurnerAmount sold: 29,709 @ 705.00p Value: £209,448Fuller Smith & Turner (FSTA) Director name: Mr Simon EmenyAmount sold: 22,761 @ 705.00p Value: £160,465Fuller Smith & Turner (FSTA) Director name: Mr James DouglasAmount sold: 20,672 @ 705.00p Value: £145,738Fuller Smith & Turner (FSTA) Director name: Mr Richard FullerAmount sold: 6,548 @ 705.00p Value: £46,163Fuller Smith & Turner (FSTA) Director name: Mr Richard FullerAmount sold: 3,487 @ 705.00p Value: £24,583Betfair Group (BET) Director name: Mr Stephen MoranaAmount sold: 2,714 @ 771.50p Value: £20,939NR