Restaurant chain Prezzo (PRZ) posted yet another set of strong results on 9 April. But with the shares now trading on 20 times expected earnings - well above their historical average - the good news may be priced in.
IC TIP:
Hold
at
147p
That, in any case, seems to be the conclusion drawn by some of the company's directors. Despite Prezzo's packed agenda for 2014, during which 28 new restaurants are due to open, non-executives Sam and Adam Kaye - cousins of Prezzo chief executive Jonathan Kaye - offloaded 1.4m shares at 145p a piece on 17 April, netting just over £2m each in proceeds. The Kayes - who founded Italian food chains Zizzi and ASK and now run Tasty (TAST) - did not act alone. Chairman Michael Carlton sold 145,000 shares at the same price, banking £210,250.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Abcam | M Redmond (ch) ♥ | 17 Apr 14 | 3,575 | 379 | 13,549 | 88,725 | 0.044 |
| Abcam | Alan Hirzel | 23 Apr 14 | 8,000 | 387.89 | 31,031 | 8,306 | 0.004 |
| Abcam | M Redmond (ch) | 17 Apr 14 | 10,150 | 379 | 38,469 | 85,150 | 0.042 |
| Abcam | Murray Hennessy | 23 Apr 14 | 12,800 | 389.25 | 49,824 | 12,800 | 0.006 |
| Advanced Oncotherapy | Sanjeev Pandya (coo) * | 23 Apr 14 | 370,400 | 2.7 | 10,001 | 370,400 | 0.043 |
| Advanced Oncotherapy | Lord Evans of Watford (ch) * | 23 Apr 14 | 740,750 | 2.7 | 20,000 | 4,807,417 | 0.556 |
| Advanced Oncotherapy | Dr. Michael Sinclair (ce) * | 23 Apr 14 | 2,963,000 | 2.7 | 80,001 | 72,318,121 | 8.359 |
| Advanced Oncotherapy | Professor Christopher Nutting * | 23 Apr 14 | 370,400 | 2.7 | 10,001 | 370,400 | 0.043 |
| Advanced Oncotherapy | Michael Bradfield ♥ | 23 Apr 14 | 18,518,510 | 2.7 | 500,000 | 118,518,510 | 13.699 |
| Afren | Iain McLaren | 17 Apr 14 | 30,000 | 142.8 | 42,840 | 30,000 | 0.003 |
| Charles Taylor | Joe Roach III | 17 Apr 14 | 5,549 | 252.63 | 14,018 | 51,593 | 0.123 |
| Cineworld | Israel Greidinger (coo) | 23 Apr 14 | 1,364 | 304.75 | 4,157 | 66,382,694 | 25.196 |
| Cineworld | Moshe Greidinger (ce) | 23 Apr 14 | 1,364 | 304.75 | 4,157 | 66,382,694 | 25.196 |
| Equatorial Palm Oil ♥ | Michael Frayne (ch) | 22 Apr 14 | 100,000 | 10.25 | 10,250 | 2,165,000 | 0.611 |
| Frontier Developments | David Gammon (ch) | 17 Apr 14 | 17,000 | 250 | 42,500 | 271,720 | 0.867 |
| Hansa Trust | L Oxford | 22 Apr 14 | 1,850 | 928 | 17,168 | 1,850 | 0.023 |
| Haydale Graphene Industries | Roger Humm | 23 Apr 14 | 5,988 | 166.99 | 9,999 | 5,988 | 0.053 |
| Intu Properties * | Matthew Roberts (fd) | 22 Apr 14 | 19,691 | 180 | 35,444 | 154,506 | 0.012 |
| Intu Properties * | John Whittaker | 22 Apr 14 | 56,062,815 | 180 | 100,913,067 | 252,282,673 | 20.149 |
| Intu Properties * | Patrick Burgess (ch) | 22 Apr 14 | 8,361 | 180 | 15,050 | 37,627 | 0.003 |
| Intu Properties * | David Fischel (ce) | 22 Apr 14 | 193,875 | 180 | 348,975 | 956,148 | 0.076 |
| Intu Properties * | Lady Patten of Wincanton | 22 Apr 14 | 2,857 | 180 | 5,143 | 12,857 | 0.001 |
| Intu Properties * | Adele Anderson | 22 Apr 14 | 3,917 | 180 | 7,051 | 17,629 | 0.001 |
| Intu Properties * | Andrew Huntley | 22 Apr 14 | 1,714 | 180 | 3,085 | 19,714 | 0.002 |
| Intu Properties * | Richard Gordon | 22 Apr 14 | 1,553,292 | 180 | 2,795,926 | 6,989,818 | 0.558 |
| Modern Water | Neil Dougall (ch) | 22 Apr 14 | 33,000 | 29 | 9,570 | 6,358,000 | 7.997 |
| OpSec Security * | DA Mahony (ch) | 22 Apr 14 | 15,150 | 33 | 5,000 | 65,150 | 0.064 |
| Quindell | Vice Admiral Robert Cooling | 28 Apr 14 | 25,000 | 20 | 5,000 | 7,306,000 | 0.120 |
| Quindell | Robert Bright | 28 Apr 14 | 25,000 | 20 | 5,000 | 1,875,611 | 0.030 |
| Quindell | Stephen Scott | 28 Apr 14 | 100,000 | 19 | 19,000 | 76,694,884 | 1.220 |
| Quindell | Robert Burrow | 28 Apr 14 | 150,000 | 19.9 | 29,850 | 15,925,000 | 0.250 |
| Quindell | Robert Terry (ch) | 28 Apr 14 | 500,000 | 19 | 95,000 | 684,500,000 | 10.890 |
| Quindell | Anthony Bowers | 28 Apr 14 | 131,579 | 19 | 25,000 | 1,468,994 | 0.020 |
| Quindell | Lawrence Moorse | 29 Apr 14 | 100,000 | 20 | 20,000 | 17,950,000 | 0.290 |
| Sinclair IS Pharma | Stuart Swanson | 17 Apr 14 | 50,000 | 30.5 | 15,250 | 4,282,854 | 0.985 |
| Sinclair IS Pharma | Stuart Swanson | 22 Apr 14 | 16,089 | 30.5 | 4,907 | 4,298,943 | 0.988 |
| Ted Baker | Lindsay Page (fd) | 23 Apr 14 | 420 | 1,999 | 8,396 | 120,874 | 0.277 |
| W H Ireland | Rupert Lowe (ch) | 22 Apr 14 | 10,000 | 108 | 10,800 | 1,074,856 | 4.514 |
| Xaar | Robin Williams | 23 Apr 14 | 1,500 | 899 | 13,485 | 1,500 | 0.002 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Goals Soccer Centres ♥ | Morris Payton | 17 Apr 14 | 6,540 | 230 | 15,042 | 291,910 | 0.499 |
| Good Energy | Garry Peagam (fd) | 23 Apr 14 | 11,000 | 269 | 29,590 | 120,000 | 0.818 |
| Good Energy | Garry Peagam (fd) | 22 Apr 14 | 27,500 | 266.617 | 73,320 | 131,000 | 0.893 |
| Matchtech | George Materna | 17 Apr 14 | 20,000 | 625 | 125,000 | 7,837,405 | 31.750 |
| Matchtech | Andy White | 17 Apr 14 | 482,400 | 625 | 3,015,000 | 610,632 | 2.474 |
| Prezzo | Michael Carlton (ch) | 17 Apr 14 | 145,000 | 145 | 210,250 | 800,000 | 0.343 |
| Prezzo | Adam Kaye | 17 Apr 14 | 1,379,311 | 145 | 2,000,001 | 5,382,796 | 2.309 |
| Prezzo | Sam Kaye | 17 Apr 14 | 1,379,311 | 145 | 2,000,001 | 5,498,297 | 2.359 |
| Xaar | P J Lawler (ch) | 17 Apr 14 | 1,500 | 850 | 12,750 | 99,930 | 0.131 |
* placing/tender/open offer ♥ spouse/connected party | |||||||
