Homeserve (HSV) shares have performed well in recent months, jumping from around 720p in early April to close to 900p in early June, spurred by good recent trading and plans to create an online home repairs platform that promises to become the “Airbnb, Just Eat or Expedia” of its sector. The question is, why is management selling shares right as they seem to be taking off?
IC TIP:
Buy
at
898p
Johnathan Ford, the group’s chief operating officer, sold roughly a quarter of his stake while global chief executive of the membership business, Tom Rusin, sold a fifth of his. Both sales were made just days after the release of full-year numbers in which management announced its “best year ever” thanks to growing customer numbers in North America and a sharp increase in adjusted operating profits.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Barr (AG) | Stuart Lorimer (fd) | 29 May 18 | 2,871 | 692.67 | 19,887 | 18,399 | 0.016 |
| Barr (AG)♥ | Stuart Lorimer (fd) | 29 May 18 | 4,293 | 698.81 | 30,000 | 22,692 | 0.019 |
| Burberry | Marco Gobbetti (ceo) | 29 May 18 | 60,000 | 2,001.85 | 1,201,110 | 189,477 | 0.044 |
| Caledonia Investments | Guy Davison | 30 May 18 | 8,100 | 2,725 | 220,725 | 8,100 | 0.015 |
| Centamin | Mark Bankes | 29 May 18 | 40,000 | 130.367 | 52,147 | 190,000 | 0.016 |
| ClearStar | André Schnabl | 24 May 18 | 10,000 | 52.5 | 5,250 | 82,000 | 0.226 |
| ClearStar | André Schnabl | 25 May 18 | 15,000 | 58 | 8,700 | 97,000 | 0.267 |
| Dunedin Income Growth Inv Trust | David Barron (ch) | 30 May 18 | 2,757 | 256.2 | 7,063 | 13,977 | 0.009 |
| Dunelm | Andy Harrison (ch) | 25 May 18 | 92,452 | 547.53 | 506,202 | 416,480 | 0.206 |
| Echo Energy* | Fiona Barkham (ceo) | 25 May 18 | 83,333 | 12 | 10,000 | 226,099 | 0.056 |
| Entertainment One | Robert McFarlane | 25 May 18 | 14,224 | 288.913 | 41,095 | 14,224 | 0.003 |
| FirstGroup | Tim O'Toole (ceo) | 25 May 18 | 12,350 | 115.1 | 14,215 | 1,278,298 | 0.106 |
| Georgia Capital | Irakli Gilauri (ch & ceo) | 30 May 18 | 15,000 | 1,077 | 161,550 | 776,416 | 1.971 |
| Georgia Capital♥ | William Huyett | 30 May 18 | 6,500 | 1,120 | 72,800 | 7,000 | 0.018 |
| Georgia Capital | Irakli Gilauri (ch & ceo) | 29 May 18 | 35,000 | 1,160 | 406,000 | 761,416 | 1.933 |
| Gore Street Energy Storage Fund | Malcolm King | 25 May 18 | 25,000 | 100 | 25,000 | 25,000 | 0.082 |
| Gore Street Energy Storage Fund | Patrick Cox | 25 May 18 | 49,996 | 100 | 49,996 | 49,996 | 0.163 |
| Gore Street Energy Storage Fund | Caroline Banszky | 25 May 18 | 35,000 | 100 | 35,000 | 35,000 | 0.114 |
| Harbourvest Global Private Equity | Michael Bunbury (ch) | 24 May 18 | 4,337 | 1,250 | 54,213 | 27,200 | 0.034 |
| Harbourvest Global Private Equity♥ | Michael Bunbury (ch) | 25 May 18 | 800 | 1,252 | 10,016 | 38,000 | 0.048 |
| Hardide | Charles Irving-Swift | 30 May 18 | 505,050 | 198 | 999,999 | 505,050 | 0.030 |
| Hikma Pharmaceuticals | Sigurdur Olafsson | 30 May 18 | 20,000 | 1,309.19 | 261,838 | 20,000 | 0.008 |
| Intermediate Capital | Andrew Sykes | 30 May 18 | 10,000 | 1,118 | 111,800 | 10,000 | 0.003 |
| ITE | Richard Last | 24 May 18 | 56,750 | 131.5 | 74,626 | 56,750 | 0.021 |
| ITE | Mark Shashoua (ceo) | 24 May 18 | 230,000 | 132.7 | 305,210 | 285,535 | 0.106 |
| IXICO | Giulio Cerroni | 29 May 18 | 31,550 | 31.5 | 9,938 | 31,550 | 0.067 |
| McKay Securities | Jonathan Austen | 25 May 18 | 10,500 | 280 | 29,400 | 20,500 | 0.022 |
| Nexus Infrastructure | Alexander Wiseman | 30 May 18 | 6,000 | 210 | 12,600 | 15,000 | 0.039 |
| Produce Investments | Robert Johnston | 29 May 18 | 10,000 | 149 | 14,900 | 40,000 | 0.149 |
| Renewi | Toby Woolrych (fd) | 24 May 18 | 7,838 | 76.02 | 5,958 | 170,073 | 0.021 |
| Renewi♥ | Toby Woolrych (fd) | 24 May 18 | 11,765 | 76.02 | 8,944 | 181,838 | 0.023 |
| Renewi♥ | Toby Woolrych (fd) | 24 May 18 | 7,838 | 76.02 | 5,958 | 189,676 | 0.024 |
| Renewi♥ | Toby Woolrych (fd) | 24 May 18 | 10,456 | 76.02 | 7,949 | 200,132 | 0.025 |
| Renold | Ian Scapens | 29 May 18 | 189,580 | 26.374 | 50,000 | 189,580 | 0.084 |
| Saga | Patrick O'Sullivan | 25 May 18 | 100,000 | 128.1 | 128,100 | 100,000 | 0.009 |
| Standard Life Aberdeen | Gerhard Fusenig | 30 May 18 | 40,000 | 350 | 140,000 | 66,495 | 0.002 |
| Stilo International | David Ashman (ch) | 29 May 18 | 475,000 | 3.7 | 17,575 | 14,187,000 | 12.452 |
| Stride Gaming | Ronen Kannor | 30 May 18 | 39,273 | 155 | 60,873 | 39,273 | 0.052 |
| Taylor Wimpey | Angela Knight | 30 May 18 | 5,000 | 200.571 | 10,029 | 10,000 | 0.000 |
| Thor Mining | Paul Johnson | 25 May 18 | 250,000 | 2.2 | 5,500 | 33,250,000 | 5.127 |
| Thor Mining | Paul Johnson | 24 May 18 | 150,000 | 2.31 | 3,465 | 32,900,000 | 5.073 |
| Thor Mining | Paul Johnson | 24 May 18 | 100,000 | 2.32 | 2,320 | 33,000,000 | 5.088 |
| Thor Mining | Paul Johnson | 24 May 18 | 250,000 | 2.375 | 5,938 | 32,750,000 | 5.050 |
| Value and Income Trust | Dominic Neary | 30 May 18 | 7,376 | 269.5 | 19,878 | 7,376 | 0.016 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Associated British Foods | John Bason (fd) | 29 May 18 | 30,000 | 2,703 | 810,900 | 125,290 | 0.016 |
| Avon Rubber | David Evans (ch) | 30 May 18 | 5,000 | 1,405 | 70,250 | 25,000 | 0.081 |
| Churchill China | James Roper | 24 May 18 | 24,000 | 940 | 225,600 | 1,010,835 | 9.221 |
| Cranswick | James Brisby | 24 May 18 | 16,578 | 3,264.12 | 541,126 | 75,371 | 0.148 |
| Cranswick♥ | James Brisby | 24 May 18 | 8,894 | 3,264.12 | 290,311 | 66,477 | 0.130 |
| Hammerson | Jean-Philippe Mouton | 30 May 18 | 44,471 | 552.78 | 245,827 | 341,701 | 0.043 |
| Homeserve | Tom Rusin | 25 May 18 | 100,000 | 886.8 | 886,800 | 377,908 | 0.115 |
| Homeserve | Johnathan Ford | 24 May 18 | 47,000 | 897.9 | 422,013 | 144,788 | 0.044 |
| LondonMetric Property | Patrick Vaughan (ch) | 30 May 18 | 300,000 | 191.7 | 575,100 | 12,662,000 | 1.816 |
| Ryanair | Michael O'Leary (ceo) | 30 May 18 | 2,000,000 | 1,445 | 28,900,000 | 44,096,725 | 3.756 |
| Sophos | Stephen Munford | 24 May 18 | 106,637 | 575 | 613,163 | 934,422 | 0.201 |
| Tristel♥ | Francisco Soler | 30 May 18 | 50,000 | 300.5 | 150,250 | 8,423,834 | 19.507 |
* placing/tender/open offer ♥ spouse/connected party | |||||||
