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On The Beach board member buys in

The travel operator has been better able to withstand shocks to the market thanks to its asset-light business model
April 11, 2019

Summer holidays are fast approaching, and travel companies are probably hoping the UK doesn’t encounter another heatwave like last year. Most travel companies blamed unusually sunny UK weather for putting travellers off booking a foreign holiday in favour of a staycation. And while online holiday booking platform On The Beach (OTB) wasn't immune to such issues, a lack of physical assets – such as airplanes – has protected it from various industry challenges, compared to other tour operators. Despite "suppressed demand", chief executive Simon Cooper says the company increased both sales and profits during the last financial year.

IC TIP: Buy at 418p

Management is optimistic about the upcoming holiday season, as evidenced by the chair of the board. Richard Pennycook bought 38,333 shares at 420p each, giving a total transaction value of around £161,000. Mr Pennycook was appointed to his role at the beginning of April, so this transaction represents his entire shareholding in On The Beach.

Buys       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
accesso Technology  Karen Slatford29 Mar 201911,835845100,00611,8350.043
accesso Technology  William Russell (ch)29 Mar 20195,00085542,7505,0000.018
accesso Technology  William Russell (ch)29 Mar 20192,50087021,7507,5000.027
accesso Technology  William Russell (ch)01 Apr 20192,50087021,75010,0000.037
Anglo American Marcelo Bastos 02 Apr 20199402,11919,9199400.000
Arcontech♥Matthew Jeffs (ceo)29 Mar 201913,03012816,678910,0006.888
Ascential Duncan Painter (ceo)29 Mar 201943,000348.2149,7263,635,5580.903
BBA Aviation Stephen King01 Apr 201960,000251.6402150,98460,0000.006
Brave Bison  Robert Miller (ch)03 Apr 2019500,0001.949,7004,093,2430.710
Centrica Charles Berry (ch)29 Mar 201940,000114.7145,88440,0000.001
Chemring  Stephen King02 Apr 201935,500144.651,33335,5000.013
Clipper Logistics Stuart Watson03 Apr 20194,000261.410,4564,0000.004
Eagle Eye Solutions  Robert Senior28 Mar 201913,97514319,98417,3720.068
Ebiquity Michael Karg (ceo)02 Apr 201923,50142.59,98841,6610.053
Everyman Media  Charles Dorfman28 Mar 2019377,000202761,5405,807,0278.180
Everyman Media  Charles Dorfman28 Mar 201963,000202127,2605,870,0278.124
Everyman Media  Charles Dorfman28 Mar 201960,000204122,4005,430,0277.649
FireAngel Safety Technology John Conoley (ch)29 Mar 201961,1812213,46061,1810.133
Fulcrum Utility Services Philip Holder (ch)02 Apr 201950,00034.220617,1101,004,6660.454
Greggs Richard Hutton (fd)28 Mar 20197601,813.2813,78139,8810.039
Greggs Roger Whiteside (ceo)28 Mar 20191,8461,813.2833,473224,5120.222
Gresham Technologies Thomas Mullan (cfo)03 Apr 201910,94091.49,99910,9400.016
GVC  Virginia McDowell28 Mar 20197,000543.538,0457,0000.001
GVC  Pierre Bouchut29 Mar 201918,000548.53598,73618,0000.003
Hiscox Hamayou Hussain (cfo)03 Apr 20193,0001,57147,13067,7940.024
Inland Homes Stephen Wicks (ceo)28 Mar 2019125,00060.675,75017,027,2568.211
International Public Partnerships Julia Bond02 Apr 201912,826155.9320,00026,8460.002
ITV Salman Amin03 Apr 201915,00013319,95029,7950.001
LiDCO  Philip Cooper 29 Mar 2019250,0004.511,2502,016,6670.826
LiDCO  Philip Cooper 01 Apr 2019650,0004.529,2502,666,6671.092
McBride Christopher Smith (cfo)03 Apr 201914,622101.9814,912264,1650.145
On The Beach  Richard Pennycook (ch)02 Apr 201938,333420160,99938,3330.029
Petrofac Alastair Cochran (cfo)02 Apr 201923,242493.6114,72364,1780.019
Petrofac Rene Medori (ch)02 Apr 20193,993500.819,99713,8980.004
Polar Capital Technology  Charlotta  Ginman 02 Apr 20197701,289.809,9314,4580.003
Polymetal International Manuel De Sousa-Oliveira 28 Mar 20194,000860.946634,4387,0000.001
Renewi Colin Matthews (ch)02 Apr 201950,00023.25411,627500,0000.062
Revolution Bars  Rob Pitcher (ceo)02 Apr 201950,00070.635,300100,0000.200
TT Electronics Stephen King02 Apr 201923,000220.950,807123,0000.075
UIL David Shillson29 Mar 20194,5641818,26188,8480.100
UIL Warren McLeland29 Mar 20194,5641818,26171,2370.080
UIL Alison Hill29 Mar 20194,5641818,26147,3580.053
Warehouse REIT Lynette Lackey 02 Apr 201925,00010325,75025,0000.010
Warehouse REIT Aimee Pitman02 Apr 201972,81410374,998223,8140.093
Warehouse REIT Martin Meech02 Apr 2019100,000103103,000200,0000.083
Warehouse REIT Neil  Kirton (ch)02 Apr 2019100,000103103,000300,0000.125
Warehouse REIT Stephen Barrow02 Apr 2019390,000103401,7006,820,5622.839
Wynnstay  James McCarthy (ch)03 Apr 201925,00029974,75034,7000.176
Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Arcontech  Matthew Jeffs (ceo)28 Mar 20199,10912111,022865,8916.555
Arcontech  Matthew Jeffs (ceo)28 Mar 201915,00012118,150881,9136.676
Hill & Smith  Derek Muir (ceo)29 Mar 20197,0001,23886,660365,3560.462
Holders Technology Thomas Bray03 Apr 201925,000379,250175,0004.207
Solid State Gary Marsh (ceo)28 Mar 20195,20038319,916275,6623.242
Somero Enterprises IncJohn Cooney (ceo)28 Mar 2019800,0003402,720,000614,6341.091
Volex Daren Morris (cfo)03 Apr 201950,0009045,000483,0630.328
Wetherspoon (J D) John Hutson (ceo)01 Apr 20192,5001,30532,625111,4180.106
Wetherspoon (J D)♥John Hutson (ceo)01 Apr 20192,5001,30532,625108,9180.103
* placing/tender/open offer ♥ spouse/connected party