Updates & Ideas

Restaurant Group - Cluster buying by directors

August 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

With Restaurant Group’s (RTN; 49.5p) shares having halved in the last three months, there has been notable cluster buying during the month; the CEO added 376k shares at 42.25p, the finance director 117k at 42.56p and a non-executive 49k at 50.6p. Based on forecasts for the current year to end December of £29m pretax profit/eps 3.1p rising to £47.5m/4.8p next year, to drop the PE to 10.3, I think the shares could be worth buying ahead of results due on 8 September. The origins of Restaurant Group can be traced back to 1979 when City Centre Restaurants, as it was known back then, opened the first Garfunkels, a London-based concept combining British and American dishes. The more recent history of the group in the past decade ...

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