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Just Eat investor sells down

Shares in the online takeaway service continue to gather pace, despite concerns about slowing growth rates and a possible regulatory roadblock
June 1, 2017

Despite concerns over slowing growth rates at online takeaway service Just Eat (JE.), the shares show no sign of losing their current momentum. Up 45 per cent over the past 12 months, it's perhaps no surprise to see STM Fidecs Trust Company - in which non-executive director Frederic Coorevits is beneficially interested - taking advantage and reducing its stake in the business. The investor offloaded a whopping 17m shares, in turn netting itself £102m. Following the transaction, it remains in control of just north of 15 per cent of the company.

IC TIP: Hold at 662p

Recent first-quarter numbers showed a 46 per cent improvement in revenues to £119m, with a like-for-like growth rate of 40 per cent. Total orders rose 45 per cent on a like-for-like basis, while UK orders alone grew 17 per cent.

Buys
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
3i  Simon Borrows (ceo)18 May 17250,000834.82,087,00012,027,4991.236
3i  Caroline Banszky18 May 173,00083825,14012,9950.001
Anglo Pacific  Robert Stan23 May 178,0001189,440155,5400.086
BCA Marketplace James Corsellis18 May 179,000,00020518,450,0009,000,0001.153
BCA Marketplace James Corsellis19 May 17520,8372061,072,92411,562,5241.482
BCA Marketplace James Corsellis19 May 172,041,6872074,226,29211,041,6871.415
BCA Marketplace Mark Brangstrup Watts18 May 179,000,00020518,450,0009,000,0001.153
BCA Marketplace Mark Brangstrup Watts19 May 17520,8372061,072,92411,562,5241.482
BCA Marketplace Mark Brangstrup Watts19 May 172,041,6872074,226,29211,041,6871.415
Better Capital  Jonathan Moulton19 May 172,000,00026.1522,00027,723,80913.407
Burberry  Julie Brown (cfo)19 May 179,6211,724.89165,9529,6210.002
CYBG Fiona MacLeod19 May 177,000274.06419,1847,0000.001
Cairn Energy Iain McLaren19 May 1725,000209.331152,33332,8780.006
Condor Gold Jim Mellon22 May 1710,000595,9001,266,1082.063
Condor Gold Jim Mellon23 May 1790,0006054,0001,356,1082.210
Driver  Peter Collini23 May 1750,0005025,00050,0000.094
HSBC Jonathan Evans  19 May 172,23966614,91212,8920.000
HarbourVest Global Private Equity Brooks Zug18 May 1721,0001,300273,00021,0000.026
Hargreaves Lansdown Philip Johnson (cfo)18 May 1714,8721,338198,98730,6120.006
Harworth♥ Owen Michaelson (ceo)24 May 1720,00010020,000206,4630.064
Harworth Owen Michaelson (ceo)24 May 1740,00010040,000186,4630.058
Hogg Robinson Mark Whiteling24 May 1725,0007017,500125,0000.038
Hogg Robinson Mark Whiteling24 May 1725,00070.7517,688100,0000.031
MJ Gleeson♥ Jolyon Harrison (ceo)22 May 171,5006229,3301,734,0953.204
Marston's Edward Roberts18 May 1725,000137.934,47525,0000.004
North Atlantic Smaller Companies Inv Trust Greville Howard23 May 171,982275754,6445,0000.035
Pantheon Resources Philip Gobe23 May 1725,00074.9818,74575,0000.035
Plant Health Care♥ Richard Webb23 May 1780,8253024,248949,2250.642
Plant Health Care Richard Webb23 May 17106,5303031,959868,4000.587
RPS Kenneth Lever (ch)19 May 1740,000268.9614107,58540,0000.018
Ranger Direct Lending Fund Christopher Waldron (ch)23 May 171,039857.0758,9052,0000.012
Rotork♥ Jonathan Davis (fd)19 May 173,054235.57,192209,9670.024
Rotork♥ Peter France (ceo)19 May 177,486235.517,630632,6350.073
Spirent Communications Bill Thomas (ch)19 May 1725,486117.7130,00025,4860.004
Stock Spirits Randy Pankevicz23 May 1715,000162.97424,44615,0000.008
TP ICap David Shalders19 May 174,202473.2419,8864,2020.001
Tesco Lindsey Pownall22 May 1720,000185.137,02020,0000.000
Wolseley♥  Darren Shapland23 May 1710049284,9282,1000.001
Zegona Communications Murray Scott18 May 1710,000158.515,85050,0000.026
Zegona Communications Robert Samuelson18 May 1712,500157.519,688801,5020.409

Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
City of London Investment Group Barry Olliff (ceo)24 May 17225,000400900,0002,500,1869.289
Directa Plus David Gann 22 May 175,56072.54,03117,7400.040
Gamma Communications Andrew Stone19 May 1751,500574.4369295,835729,0000.782
Gear4music*Andrew Wass (ceo)24 May 17725,0006905,002,5007,161,99334.322
Gear4music*Chris Scott (cfo)24 May 1730,000690207,00090,4620.434
Gear4music*Dean Murray24 May 1750,000690345,000199,5200.956
Gear4music*Gareth Bevan24 May 1734,000690234,600100,3820.481
Hammerson Jean-Philippe Mouton18 May 1759,791579346,190284,0900.036
IQE Howard Williams19 May 171,900,00068.291,297,5102,392,9650.352
IQE Phillip Rasmussen (fd)19 May 171,900,00068.291,297,5101,573,3570.232
Just Eat♥ Frederic Coorevits22 May 1717,000,000600102,000,000104,972,44215.459
Paragon Group of Companies (The) Hugo Tudor23 May 17105,000475.88499,674355,0000.130
Paragon Group of Companies (The) Hugo Tudor24 May 1720,000471.8394,366310,0000.114
Paragon Group of Companies (The) Hugo Tudor24 May 1725,000470.33117,583330,0000.121
Sophos Kris Hagerman (ceo)19 May 17113,621401.35456,0181,964,6700.425
Sophos Nick Bray (cfo)19 May 17800,000399.743,197,920276,9090.060
The Property Franchise Group David Raggett (cfo)24 May 17150,000154.535231,80325,0000.098
*Pacing/tender/open offer ♥Spouse/connected party