Plus500’s co-founder Elad Ben Izhak buys shares in company

Maria Nikolova

Elad Ben Izhak has bought 53,000 shares in the brokerage.

Just a day after Plus500 Ltd (LON:PLUS) reported that one of its co-founders – Alon Gonen, purchased more shares in the online trading company, the brokerage announced that another of its co-founders – Elad Ben Izhak, has bought shares.

According to a notice filed with the London Stock Exchange, Elad Ben Izhak acquired 53,000 shares in Plus500 at a price of £9.499 per share. The transaction was carried out on March 3, 2020.

The purchases of Plus500 shares by its co-founders happens shortly after the brokerage voiced an upbeat note about its performance. In a trading update issued on February 28, 2020, Plus500 reported a significant increase in levels of customer trading activity. The Group’s financial performance during the first quarter to date is consequently trending substantially ahead of the last quarter of 2019, Plus500 said.

Let’s recall that Plus500 reported total revenues of $354.5 million for 2019, down 51% from $720.4 million registered a year earlier. EBITDA for 2019 was $192.3 million (FY 2018: $506.0 million), with an EBITDA margin of 54% (FY 2018: 70%). Net profit for 2019 was $151.7 million, down 60% from $379 million registered a yea earlier. Earnings per share were $1.35 (FY 2018: $3.33).

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