TalkTalk’s (TALK) first-quarter update in July revealed headline revenue growth (ex-carrier and off-net) of 1.3 per cent to £387m. Headline on-net revenue rose by 2.6 per cent to £317m. The group maintained its full-year outlook, guiding towards strong cash profit growth fuelled by fibre penetration and cost reduction plans.
Earlier this month, Barclays described TalkTalk as a “(surprising) potential fibre winner” amidst the changing UK broadband market, where “key stakeholders are making bold strategic moves to support/establish large investment programmes”. Barclays analysts expect operating and earnings momentum to improve after a prolonged period of underperformance.
Not everyone is positive; TalkTalk’s shares aren't far off their all-time low. Perhaps in a bid to shore up confidence – or after identifying a buying opportunity – executive chairman Charles Dunstone purchased 9.9m shares between 6 and 10 September, worth around £10m and taking his stake close to 30 per cent. We learnt later that shareholder The Capital Group’s position in TalkTalk had shrunk from 9.5 per cent to 4.8 per cent on 11 September.
Buys | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
888 Holdings | Mark Summerfield | 11 Sep 19 | 30,000 | 154 | 46,200 | 30,000 | 0.008 |
Abcam | Alan Hirzel (ceo) | 10 Sep 19 | 4,350 | 11.3895 | 49,544 | 142,558 | 0.069 |
Arena Events | Gregory Lawless (ceo) | 10 Sep 19 | 200,000 | 21 | 42,000 | 6,924,088 | 4.534 |
Associated British Foods | Ruth Cairnie | 11 Sep 19 | 1,110 | 2,231 | 24,764 | 4,110 | 0.001 |
Associated British Foods ♥ | Ruth Cairnie | 11 Sep 19 | 1,113 | 2,236 | 24,887 | 5,223 | 0.001 |
BMO Commercial Property Trust | Linda Wilding | 6 Sep 19 | 40,000 | 109.5 | 43,800 | 40,000 | 0.005 |
City Merchants High Yield Trust | Stuart McMaster | 9 Sep 19 | 25,000 | 192.333 | 48,083 | 25,000 | 0.025 |
Dunelm | William Reeve | 5 Sep 19 | 1,000 | 815.15 | 8,152 | 16,000 | 0.008 |
EnQuest | Helmut Langanger | 5 Sep 19 | 200,000 | 19.8 | 39,600 | 700,000 | 0.041 |
Imperial Brands | Simon Langelier | 6 Sep 19 | 281 | 2,121 | 5,960 | 24,656 | 0.003 |
Imperial Brands | Jonathan Stanton | 6 Sep 19 | 76 | 2,121 | 1,612 | 76 | 0.000 |
Imperial Brands | Mark Williamson (ch) | 6 Sep 19 | 1,489 | 2,121 | 31,582 | 22,678 | 0.002 |
Imperial Brands | Sue Clark | 6 Sep 19 | 217 | 2,121 | 4,603 | 217 | 0.000 |
Imperial Brands | Karen Witts | 6 Sep 19 | 272 | 2,121 | 5,769 | 1,266 | 0.000 |
Keras Resources * † | Brian Moritz (ch) | 10 Sep 19 | 26,000,000 | 0.4 | 104,000 | 102,960,512 | 4.133 |
Keras Resources * † | David Reeves | 10 Sep 19 | 88,725,000 | 0.4 | 354,900 | 470,400,491 | 18.881 |
Luceco ♥ | William Hoy | 11 Sep 19 | 12,500 | 79.99 | 9,999 | 35,139 | 0.022 |
Luceco | William Hoy | 11 Sep 19 | 22,639 | 80.89 | 18,311 | 22,288 | 0.014 |
McColl's Retail | Jonathan Miller (ceo) | 5 Sep 19 | 250,000 | 46 | 115,000 | 11,649,500 | 10.115 |
Midwich | Stephen Fenby | 10 Sep 19 | 30,000 | 510 | 153,000 | 19,100,000 | 23.883 |
MySale * | Carl Jackson (ceo) | 11 Sep 19 | 100,000,000 | 2 | 2,000,000 | 103,745,000 | 14.513 |
MySale * | Jamie Jackson | 11 Sep 19 | 10,000,000 | 2 | 200,000 | 57,469,189 | 8.039 |
Oxford BioDynamics ♥ | Stephen Diggle (interim ch) | 10 Sep 19 | 10,000 | 85 | 8,500 | 11,793,361 | 12.741 |
Oxford BioDynamics ♥ | Stephen Diggle (interim ch) | 9 Sep 19 | 11,406 | 87 | 9,923 | 11,783,361 | 12.731 |
Oxford BioDynamics ♥ | Stephen Diggle (interim ch) | 6 Sep 19 | 10,000 | 89 | 8,900 | 11,771,955 | 12.718 |
Oxford BioDynamics ♥ | Stephen Diggle (interim ch) | 5 Sep 19 | 10,500 | 90 | 9,450 | 11,761,955 | 12.710 |
Oxford Instruments | Neil Carson (ch) | 11 Sep 19 | 8,000 | 1,289.80 | 103,184 | 8,000 | 0.014 |
Park Group | Timothy Clancy (cfo) | 10 Sep 19 | 20,000 | 57 | 11,400 | 20,000 | 0.011 |
Polymetal International | Manuel De Sousa-Oliveira | 10 Sep 19 | 8,000 | 1,120.23 | 89,619 | 15,000 | 0.003 |
Regional REIT | Kevin McGrath (ch) | 10 Sep 19 | 19,350 | 104 | 20,124 | 353,508 | 0.095 |
Regional REIT ♥ | Kevin McGrath (ch) | 10 Sep 19 | 19,350 | 104 | 20,124 | 372,858 | 0.100 |
Renewables Infrastructure Group (The) | Helen Mahy (ch) | 6 Sep 19 | 15,471 | 128.75 | 19,919 | 111,272 | 0.008 |
Restaurant Group (The) | Andrew Hornby (ceo) | 10 Sep 19 | 232,471 | 128.4 | 298,493 | 232,471 | 0.047 |
Savills | Stacey Cartwright | 10 Sep 19 | 2,860 | 863 | 24,682 | 2,860 | 0.002 |
Schroder Asian Total Return Investment | David Brief (ch) | 10 Sep 19 | 11,000 | 367 | 40,370 | 47,171 | 0.050 |
Serco | Eric Born | 10 Sep 19 | 30,000 | 149.1 | 44,730 | 30,000 | 0.002 |
SimplyBiz Group (The) | Neil Stevens (joint CEO) | 10 Sep 19 | 25,000 | 205.3166 | 51,329 | 1,636,975 | 1.691 |
TalkTalk Telecom | Charles Dunstone (ch) | 10 Sep 19 | 3,870,639 | 103.64 | 4,011,530 | 338,953,838 | 29.577 |
TalkTalk Telecom | Charles Dunstone (ch) | 6 Sep 19 | 3,000,000 | 104.08 | 3,122,400 | 332,083,199 | 28.978 |
TalkTalk Telecom | Charles Dunstone (ch) | 9 Sep 19 | 3,000,000 | 104.92 | 3,147,600 | 335,083,199 | 29.239 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Berkeley Group (The) | Veronica Wadley | 6 Sep 19 | 1,500 | 3,951.28 | 59,269 | 2,500 | 0.002 |
Berkeley Group (The) | Robert Perrins (ceo) | 9 Sep 19 | 300,000 | 3,970.43 | 11,911,302 | 1,060,283 | 0.843 |
Big Yellow ♥ | Nicholas Vetch (ch) | 6 Sep 19 | 411,660 | 1,068 | 4,396,529 | 6,743,284 | 4.037 |
Hikma Pharmaceuticals | Said Darwazah (ch) | 6 Sep 19 | 150,000 | 2,007 | 3,011,121 | 14,416,396 | 5.970 |
Hiscox | Richard Watson | 11 Sep 19 | 10,000 | 1,585.15 | 158,515 | 585,891 | 0.203 |
Lloyds Banking | Antonio Horta-Osorio (ceo) | 11 Sep 19 | 93,930 | 53.0644 | 49,843 | 21,500,557 | 0.031 |
Motorpoint †† | David Shelton | 6 Sep 19 | 11,000,000 | 200 | 22,000,000 | 2,396,726 | 2.639 |
Paragon Banking | Hugo Tudor | 10 Sep 19 | 25,000 | 453.285 | 113,321 | 100,000 | 0.039 |
Regional REIT ♥ | Kevin McGrath (ch) | 10 Sep 19 | 19,350 | 104 | 20,124 | 353,508 | 0.095 |
Regional REIT ♥ | Kevin McGrath (ch) | 10 Sep 19 | 19,350 | 104 | 20,124 | 334,158 | 0.090 |
Trifast | Glenda Roberts | 11 Sep 19 | 53,209 | 198 | 105,354 | 237,571 | 0.195 |
United Utilities | Russ Houlden (cfo) | 10 Sep 19 | 7,700 | 764 | 58,828 | 44,349 | 0.007 |
United Utilities | Steven Mogford (ceo) | 11 Sep 19 | 41,000 | 770.41 | 315,868 | 70,034 | 0.010 |
* placing/tender/open offer/right issue ♥ spouse/connected party | |||||||
† David Reeves and Brian Moritz agreed to convert £458,900 in loans due to them, primarily in respect of cash advanced to the company as working capital loans, into new ordinary shares in the company | |||||||
†† Shares sold by Shoby Investments Partnership (a partnership between David Shelton and his connected persons) in connection with divorce proceedings. |