TalkTalk Telecom Group is a UK-based provider of telephone, broadband, and television services. The company operates Britain’s largest unbundled broadband network, covering 96% of the population, and currently has over four million customers. It is listed on the London Stock Exchange and currently has a market capitalisation of £1 billion.
Source: 2iQ ResearchWhat looks interesting here is the fact that two insiders have bought shares since the company’s full-year results. On 16 June, CEO Tristia Harrison purchased 223,045 shares at a price of 89p per share, spending just under £200,000 on stock. Meanwhile, between 11 June and 16 June, Non-Executive Director Roger Taylor – who was previously TalkTalk’s Non-Executive Deputy Chair between January 2010 and July 2012 – purchased 1.5 million shares, spending a total of around £1.4 million on stock.
We see this insider buying activity as bullish. It suggests that these insiders are confident about the future and believe the stock is currently undervalued.
