Shares in HomeServe (HSV) have struggled for much of this year. The emergency home repair specialist’s UK division has seen customer numbers shrink and income per customer fall. Meanwhile, debt levels are rising and a forward rating of over 17 times adjusted consensus earnings doesn’t yell value.
However, at the end of November, HomeServe chairman Tommy Breen bought 50,000 shares, costing him £455,000. Breen also forked out £466,500 on 50,000 shares in May, a few months after joining HomeServe.
His confidence may be linked to HomeServe’s US ambitions. While UK growth has stalled, the group says the US market is relatively untapped and that US consumers tend to be more insurance-minded than their UK counterparts. In the six months to 30 September, the group’s North American customer base increased by 8 per cent to 4.8m (compared with the UK’s 1.5m). US retention rates and income per customer are also on the rise.
In the wake of the group’s half-year results, Liberum slightly increased its financial year 2023 EPS estimate, “helped by the strength of outlook in the US”. HomeServe’s share price has shown signs of recovery over the past two months. Breen will be hoping this revival lasts.
Buys | ||||
Company | Director/PDMR | Date | Price (p) | Aggregate value (£) |
3i Group | David Hutchison (ch) | 29 Nov 21 | 1,397 | 21,078 |
Abrdn | Hannah Grove | 02 Dec 21 | 230 | 75,900 |
Abrdn | Stephen Bird (ce) | 03 Dec 21 | 231 | 231,010 |
Abrdn | Stephanie Bruce (cfo) | 03 Dec 21 | 234 | 123,978 |
AJ Bell | Andy Bell (ce) * | 02 Dec 21 | 378 | 994,990 |
Altitude | David Smith (ch) * | 30 Nov 21 | 34 | 30,008 |
Alumasc | Simon Dray (cfo) | 29 Nov 21 | 210 | 42,000 |
Amryt Pharma | Ray Stafford (ch) | 29 Nov 21 | 706 † | 352820 † |
Aston Martin Lagonda | Michael de Picciotto * | 26 Nov-2 Dec 21 | 1,430 | 714,750 |
Burberry | Danuta Gray | 30 Nov 21 | 1,757 | 52,710 |
City of London Investment | Barry Aling (ch) | 02 Dec 21 | 476 | 238,000 |
City of London Investment | Barry Olliff | 02 Dec 21 | 475 | 475,000 |
Conduit Holdings | Elaine Whelan | 26 Nov 21 | 414 | 99,240 |
Conygar Investment | Bimaljit Sandhu | 26 Nov 21 | 164 | 73,800 |
Countryside Properties | John Martin (ch) | 01 Dec 21 | 421 | 199,990 |
D4t4 Solutions | Bill Bruno (ce) | 03 Dec 21 | 285 | 37,050 |
D4t4 Solutions | Ash Mehta (cfo) | 03 Dec 21 | 287 | 48,725 |
DFS Furniture | Mike Schmidt (cfo) * | 29 Nov 21 | 248 | 24,800 |
Diploma | Dean Finch | 24 Nov 21 | 3,131 | 20,038 |
easyJet | Stephen Hester (ch) | 01 Dec 21 | 513 | 138,564 |
Elixirr | Nicholas Willott (cfo) | 29 Nov 21 | 650 | 49,985 |
GB Group | David Rasche (ch) | 30 Nov 21 | 789 | 78,936 |
GB Group | David Ward (cfo) | 30 Nov 21 | 789 | 94,723 |
GB Group | Nick Brown (PDMR) | 30 Nov 21 | 789 | 97,786 |
GB Group | Elizabeth Catchpole | 01 Dec 21 | 780 | 29,406 |
Halfords | Keith Williams (ch) ** | 02 Dec 21 | 320 | 64,000 |
Halfords | Loraine Woodhouse (cfo) ** | 02 Dec 21 | 320 | 24,999 |
Hill & Smith | Annette Kelleher | 30 Nov 21 | 1,672 | 29,820 |
HomeServe | Tommy Breen (ch) | 26-29 Nov 21 | 910 | 455,026 |
K3 Capital | Tony Ford (PDMR) * | 01 Dec 21 | 307 | 46,000 |
Kerry | Philip Toomey (ch) | 26 Nov 21 | 9,186 † | 275,642 † |
Light Science Technologies Holdings | Andrew Hempsall (coo) | 30 Nov 21 | 22 | 25,000 |
M&G | Massimo Tosato | 01 Dec 21 | 189 | 56,882 |
Manolete Partners | Lord Leigh of Hurley (ch) | 29 Nov 21 | 259 | 49,210 |
Mondi | Mike Powell (cfo) * | 29 Nov 21 | 1,764 | 99,243 |
Ocean Wilsons | Caroline Foulger | 29 Nov 21 | 899 | 26,970 |
Quilter | Chris Samuel | 29 Nov 21 | 140 | 28,016 |
Sirius Real Estate | Andrew Coombs (ce) | 01 Dec 21 | 136 | 137,001 |
Softline | Igor Borovikov (ch) | 30 Nov-1 Dec 21 | 484 † (GDRs) | 861,238 † |
Standard Chartered | Byron Grote | 30 Nov 21 | 418 † | 41,826 † |
STM Group | Alan Kentish | 02 Dec 21 | 31 | 92,535 |
Symphony International | Anil Thadani (ch) | 01-02 Dec 21 | 32 † | 139,040 † |
The Restaurant Group | Ken Hanna (ch from 1 Jan) | 01 Dec 21 | 84 | 84,000 |
Venture Life | Jerry Randall (ce) | 03 Dec 21 | 35 | 34,990 |
Venture Life | Sharon Collins (PDMR) | 03 Dec 21 | 35 | 34,990 |
Venture Life | Gianluca Braguti (PDMR) | 03 Dec 21 | 35 | 34,990
|
Sells | ||||
Company | Director/PDMR | Date | Price (p) | Aggregate value (£) |
EJF Investments | Hammad Khan (PDMR) | 30 Nov 21 | 129 | 90,915 |
System1 Group | John Kearon (PDMR) | 30 Nov 21 | 320 | 320,000 |
Telecom Plus | Charles Wigoder (ch) | 30 Nov 21 | 1,450 | 29,000,000 |
URU Metals | John Zorbas | 30 Nov 21 | 215 | 41,514 |
*Spouse/Family/Close Associate. ** Placing / Open Offer † Converted from € / $ |