UK investors fearing that Redrow's Steve Tony Pidgley's and Berkeley Homes chairman Morgan share sales signal the top of the market, have nothing to worry about, according to analysts at Jefferies. They added Pidgley "still has a lot of skin in the game", while the housebuilding industry was benefiting from a chronic undersupply and the government's help to buy initiative. However, some insiders have questioned whether Tony Pidgley's, who recently announced he would "ease back" on his role, will go on to sell his entire stake in Redrow, which increased its dividend by 70% after posting record results.
UK investors fearing that Redrow's Steve Morgan and Berkeley Homes chairman Tony Pidgley's share sales signal the top of the market, have nothing to worry about, according to analysts at Jefferies. They added Pidgley "still has a lot of skin in the game", while the housebuilding industry was benefiting from a chronic undersupply and the government's help to buy initiative. However, some insiders have questioned whether Morgan, who recently announced he would "ease back" on his role, will go on to sell his entire stake in Redrow, which increased its dividend by 70% after posting record results.