Growing interest from institutional investors prompted the top brass at Keywords Studios (KWS) to reduce their holdings by around a third, representing about a tenth of the group's shares. Giorgio Guastalla and other founders of the video games services group netted £9.6m from the indirect sale of 4m shares, while Keywords chief Andrew Day secured £3.6m. They retained stakes of 14.8 per cent and 7.2 per cent, respectively.
IC TIP:
Buy
at
280p
Management was quick to reassure investors, ruling out further sales in the next year and highlighting that this was the sellers' first divestment since Keywords' shares floated in June 2013. Asset manager River and Mercantile (RIV) also raised its stake more than fourfold to about 2.7m shares, confirming robust institutional demand.
Broker Numis expects EPS of 15.5¢ (11.8p) this year, rising to 18.5¢ in 2017 (from 12¢ in 2015).
| Buys | |||||||
|---|---|---|---|---|---|---|---|
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Avanti Communications | David Williams (ceo) | 16 May 16 | 5,434 | 91.5 | 4,972 | 1,709,144 | 1.160 |
| Avanti Communications | Paul Walsh (ch) | 16 May 16 | 25,000 | 89.5 | 22,375 | 230,000 | 0.156 |
| BBA Aviation | Susan Kilsby | 12 May 16 | 20,000 | 190.6 | 38,120 | 20,000 | 0.002 |
| Clinigen | Martin Abell (cfo) | 16 May 16 | 8,108 | 516 | 41,837 | 19,404 | 0.017 |
| Clinigen | Martin Abell (cfo) | 16 May 16 | 11,296 | 518 | 58,513 | 11,296 | 0.010 |
| DCC | Cormac McCarthy | 18 May 16 | 1,200 | 6470 | 77,640 | 1,200 | 0.001 |
| Dunelm | Andy Harrison (ch) | 13 May 16 | 54,700 | 907 | 496,129 | 108,133 | 0.054 |
| Falanx* | Desmond Carr | 17 May 16 | 875,000 | 4 | 35,000 | 1,075,000 | 1.018 |
| Falanx* | Mike Read (ch) | 17 May 16 | 1,250,000 | 4 | 50,000 | 1,250,000 | 1.184 |
| Flowtech Fluidpower | Sean Fennon (ceo) | 13 May 16 | 10,000 | 140 | 14,000 | 219,000 | 0.508 |
| Flowtech Fluidpower | Nigel Richens | 13 May 16 | 15,000 | 140 | 21,000 | 50,000 | 0.116 |
| Grafton | Michael Roney | 12 May 16 | 7,183 | 675.19 | 48,499 | 7,183 | 0.003 |
| Greencoat UK Wind | Martin McAdam | 17 May 16 | 6,666 | 105 | 6,999 | 60,270 | 0.010 |
| Greencoat UK Wind | Shonaid Jemmett-Page | 17 May 16 | 14,285 | 105 | 14,999 | 37,661 | 0.006 |
| Greencoat UK Wind | Tim Ingram (ch) | 17 May 16 | 14,500 | 105 | 15,225 | 271,964 | 0.045 |
| Greencoat UK Wind♥ | Tim Ingram (ch) | 17 May 16 | 14,500 | 105 | 15,225 | 286,464 | 0.048 |
| Gresham Computing♥ | Max Royde | 13 May 16 | 40,000 | 100 | 40,000 | 7,007,664 | 11.076 |
| Highcroft Investments | David Kingerlee | 13 May 16 | 1,000 | 970 | 9,700 | 89,470 | 1.731 |
| Howden Joinery | Andrew Cripps | 16 May 16 | 3,000 | 483.7 | 14,511 | 3,000 | 0.000 |
| Howden Joinery | Geoff Drabble | 18 May 16 | 3,000 | 488.4 | 14,652 | 3,000 | 0.000 |
| Howden Joinery | Richard Pennycook (ch) | 16 May 16 | 51,663 | 483.9 | 249,997 | 54,663 | 0.009 |
| Indivior | Yvonne Greenstreet | 12 May 16 | 1,712 | 161.3 | 2,761 | 4,598 | 0.001 |
| Indivior | Christian Schade | 12 May 16 | 1,784 | 161.3 | 2,878 | 4,680 | 0.001 |
| Indivior | Lorna Parker | 12 May 16 | 1,784 | 161.3 | 2,878 | 4,734 | 0.001 |
| Indivior | A Thomas McLellan | 12 May 16 | 2,173 | 161.3 | 3,505 | 5,951 | 0.001 |
| Indivior | Daniel Phelan | 12 May 16 | 3,076 | 161.3 | 4,962 | 8,056 | 0.001 |
| Indivior | Daniel Tassé | 12 May 16 | 3,903 | 161.3 | 6,296 | 10,112 | 0.001 |
| Indivior | Rupert Bondy | 12 May 16 | 6,584 | 161.3 | 10,620 | 16,183 | 0.002 |
| Indivior | Howard Pien (ch) | 12 May 16 | 13,588 | 161.3 | 21,917 | 36,531 | 0.005 |
| International Consolidated Airlines | Alberto Terol | 13 May 16 | 7,700 | 512.8579 | 39,490 | 16,900 | 0.001 |
| International Consolidated Airlines | Keiran Poynter | 13 May 16 | 15,000 | 513.648 | 77,047 | 15,000 | 0.001 |
| Kingspan | John Cronin | 12 May 16 | 5,000 | 2370.5 | 118,525 | 8,000 | 0.005 |
| Mercantile Investment Trust (The) | Jeremy Tigue | 13 May 16 | 917 | 1654 | 15,167 | 11,243 | 0.012 |
| Michael Page International♥ | David Lowden (ch) | 16 May 16 | 10,000 | 386.3 | 38,630 | 10,000 | 0.003 |
| National Express | Jane Kingston | 18 May 16 | 2,100 | 327.8 | 6,884 | 2,100 | 0.000 |
| Red Rock Resources* | Andrew Bell (ch & ceo) | 13 May 16 | 4,761,904 | 0.42 | 20,000 | 7,706,077 | 1.964 |
| RIT Capital Partners | Michael Marks | 16 May 16 | 10,000 | 1627 | 162,700 | 10,000 | 0.006 |
| Robinson♥ | Anthony Glossop | 17 May 16 | 5,000 | 170 | 8,500 | 190,162 | 1.075 |
| Robinson | Anthony Glossop | 18 May 16 | 6,760 | 175 | 11,830 | 196,922 | 1.113 |
| ServicePower Technologies | Marne Elizabeth Martin | 17 May 16 | 327,354 | 2.5 | 8,184 | 389,395 | 0.171 |
| ServicePower Technologies | Hugh Fitzwilliam-Lay (ch) | 17 May 16 | 661,731 | 2.5 | 16,543 | 10,173,276 | 4.471 |
| SSE | Helen Mahy | 18 May 16 | 992 | 1,522.70 | 15,105 | 2,027 | 0.000 |
| Target Healthcare REIT | Robert Naish (ch) | 12 May 16 | 10,000 | 105 | 10,500 | 40,000 | 0.016 |
| Target Healthcare REIT | Thomas Hutchison III | 12 May 16 | 10,000 | 105 | 10,500 | 70,000 | 0.028 |
| TP Group | Simon Kings | 18 May 16 | 128,341 | 4.15 | 5,326 | 1,000,000 | 0.237 |
| TP Group | Derren Stroud (cfo) | 17 May 16 | 300,000 | 3.46 | 10,380 | 300,000 | 0.071 |
| TT Electronics | Neil Carson (ch) | 16 May 16 | 50,000 | 134.36 | 67,180 | 150,000 | 0.092 |
| Vernalis* | Peter Fellner (ch) | 13 May 16 | 20,000 | 50 | 10,000 | 270,000 | 0.051 |
| Vernalis* | Carol Ferguson | 13 May 16 | 28,000 | 50 | 14,000 | 156,212 | 0.030 |
| Vernalis* | David Mackney (cfo) | 13 May 16 | 50,000 | 50 | 25,000 | 415,203 | 0.079 |
| Vernalis* | Nigell Sheail | 13 May 16 | 52,838 | 50 | 26,419 | 346,838 | 0.066 |
| Vernalis* | Ian Garland (ceo) | 13 May 16 | 100,000 | 50 | 50,000 | 804,857 | 0.153 |
| Vodafone | Val Gooding | 17 May 16 | 7,962 | 226.9 | 18,066 | 12,000 | 0.000 |
| Sells | |||||||
|---|---|---|---|---|---|---|---|
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Flowtech Fluidpower♥ | Bryce Brooks (cfo) | 13 May 16 | 27,000 | 141.75 | 38,273 | 67,000 | 0.156 |
| GW Pharmaceuticals♥ | Geoffrey Guy (ch) | 12 May 16 | 300,000 | 444 | 1,332,000 | 13,797,852 | 5.248 |
| Keywords Studios | Andrew Day (ceo) | 12 May 16 | 1,500,000 | 240 | 3,600,000 | 3,796,573 | 7.045 |
| Shawbrook♥ | Stephen Johnson | 12 May 16 | 11,000 | 258 | 28,380 | 2,564,953 | 1.024 |
| Shawbrook♥ | Thomas Wood (cfo) | 12 May 16 | 274,284 | 258 | 707,653 | 1,371,421 | 0.547 |
| Shawbrook | Thomas Wood (cfo) | 12 May 16 | 411,426 | 258 | 1,061,479 | 1,645,705 | 0.657 |
| Shawbrook | Stephen Johnson | 12 May 16 | 1,271,476 | 258 | 3,280,408 | 2,575,953 | 1.028 |
| YouGov | Doug Rivers | 16 May 16 | 10,000 | 170 | 17,000 | 1,978,135 | 1.897 |
