Barclays has taken a short position on Hastings Direct shares, just after the sale to Rand Merchant and Finnish insurer Sampo was agreed last week. Rand Merchant already owns about 16% of Hastings, one iof the big names in UK motorcycle insurance, according to recent reports in the FT.
Gary Hoffman who is the outgoing Chairman at Hastings formerly worked at Barclays and the struggling Northern Rock and joined the board at Monzo online bank in 2019.
The regulatory notice was posted on the LSE site earlier today. Barclays is shorting some 559,000 shares.