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4 shares the pros are buying and selling

Our regular roundup of trades by professional investors, including Spectra Systems, CloudCall, YouGov and Morgan Sindall.

by Daniel Grote, David Campbell, Selin Bucak on Sep 18, 2017 at 05:00

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Key stats
Market capitalisation£45m
No. of shares out45m
No. of shares floating34m
No. of common shareholdersnot stated
No. of employees29
Trading volume (10 day avg.)m
Turnover8m USD
Profit before tax1m USD
Earnings per share0.02 USD
Cashflow per share0.04 USD
Cash per share0.15 USD

Spectra Systems

Technology fund manager Katie Potts has taken a stake in Spectra Systems (SPSY) as shares in the supplier of authentication technology for bank notes continue to soar.

Potts, manager of the Herald investment trust and Herald Worldwide Technology fund, bought a 6.4% stake in the business worth £4.5 million at a share price of 97p.

Shares in the Alternative Investment Market company are up 294% this year amid strong trading.

Spectra Systems said in August it expected to ‘significantly exceed market expectations’ for profits and cash flow in 2017.

Interim results released this month showed a 48% jump in revenues over the six months to the end of June.

Broker WH Ireland responded by hiking its price target to 115p from 100p and reiterating its ‘buy’ rating.

Key stats
Market capitalisation£28m
No. of shares out20m
No. of shares floating16m
No. of common shareholdersnot stated
No. of employees83
Trading volume (10 day avg.)m
Turnover£5m
Profit before tax£-3m
Earnings per share-19.52p
Cashflow per share-15.95p
Cash per share15.80p

CloudCall

Small cap fund selectors Gervais Williams and Martin Turner have taken some profits on their stake in cloud-based telephone company CloudCall (CALL) after the company’s first results revealed a narrowing of losses.

The duo cut back their holding to 12.8% of the business worth £3.7 million at a share price of 141.5p, up 111.2% year to date.

The company is held in the pair’s Miton UK Smaller Companies fund and Miton UK Micro Cap investment trust.

In results for the six months to June, the group said operating losses narrowed to £1.5 million from £1.8 million. Revenue was up 40% year-on-year to £3.2 million.

In a statement, non-executive chairman Peter Simmonds added: ‘Overall, we continue to see steady growth in the number of end users adopting CloudCall's technology, further demonstrating the quality of our product.

‘As we move forward, we continue to explore opportunities to integrate the CloudCall platform with select additional customer relationship management platforms, increasing our potential addressable market and facilitating further accelerated growth.’

Key stats
Market capitalisation£278m
No. of shares out105m
No. of shares floating87m
No. of common shareholdersnot stated
No. of employees692
Trading volume (10 day avg.)m
Turnover£88m
Profit before tax£3m
Earnings per share3.17p
Cashflow per share9.13p
Cash per share14.91p

YouGov

Citywire AAA-rated value veterans Anthony Cross and Julian Fosh have upped their stake in global polling firm YouGov (YOU) as its shares dip back toward the bottom of their 2017 trading range.

The managers increased their investment to 10.2% of the business worth £28 million at a share price of 262.6p, down from a recent high of 293p.

The shares are primarily held in their £2.4 billion Liontrust Special Situations fund, in addition to their £748 million Liontrust UK Smaller Companies fund.

Numis last month reiterated its ‘buy’ rating on YouGov and lifted its target price from 292p to 306p.

That followed a trading update from the business upgrading its full-year outlook, as it reported revenue growth ‘well ahead’ of its sector average.

‘The group's international coverage, especially its growing business in the USA, has also enabled it to benefit from the lower value of sterling compared to other currencies,’ it added.

Key stats
Market capitalisation£600m
No. of shares out45m
No. of shares floating37m
No. of common shareholdersnot stated
No. of employees5982
Trading volume (10 day avg.)m
Turnover£2,562m
Profit before tax£37m
Earnings per share81.42p
Cashflow per share96.68p
Cash per share511.09p

Morgan Sindall

Citywire A-rated pan-European smaller companies manager Andrew Paisley has upped his stake in construction and infrastructure business Morgan Sindall (MGNS) as its shares reverse a recent slide.

Paisley upped his holding to 12.7% of the company worth £75.6 million at a share price of £13.26, up from an early September low of £12.29.

The shares are primarily held in his £485 million Standard Life Global European Smaller Companies fund, with a smaller stake held in the Aberdeen UK Smaller Companies sister fund.

Shares in the business had climbed to a record high of £14.35 in early August on an upbeat set of results, as it reported adjusted operating profits up 37% over the first half, at £24.9 million.

Broker Liberum reiterated its ‘buy’ rating following the announcement and upped its target price from £14.50 to £15.50.

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  • Spectra Systems Corp (SPSY.L)
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  • Cloudcall Group PLC (CALL.L)
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  • YouGov PLC (YOU.L)
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  • Morgan Sindall Group PLC (MGNS.L)
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