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Hostelworld chiefs snap up shares after slump

01 June 2016

Chief executive and chief technology officer spend almost € 270,000 on company shares. Travel website company Hostelworld executives mopped up almost € 270,000 of shares in the market after it stock slumped by as much as a third on Thursday after a weak trading update. Chief executive Feargal Mooney spent £151,410 (€198,481) buying 84,000 shares in the London market at £1.8025 each, according to a market filing published on Tuesday.

Chief technology officer John O’Donnell acquired 30,000 each at a slightly higher price of £1.814 each, costing him £54,420. Shares in Hostelworld plunged by as much as 33 per cent on Thursday when the company reported weaker-than-expected demand across Europe in the aftermath of the Paris and Brussels terrorist attacks.

It made the statement ahead of the company’s first annual general meeting as a public company, in Dublin. Hostelworld shares rose 1.1 per cent to £1.82 in early trading in London on Tuesday, as traders returned from a long weekend break.

Source: Irish Times