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Four shares the pros are buying

Our regular roundup of trades by professional investors, featuring Air Partner, Bango, Amerisur Resources and Fusion Antibodies. 

by David Campbell, James Phillipps on Jan 08, 2018 at 05:00

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Key stats
Market capitalisation£15m
No. of shares out10m
No. of shares floating10m
No. of common shareholdersnot stated
No. of employees260
Trading volume (10 day avg.)m
Turnover£50m
Profit before tax£5m
Earnings per share18.74p
Cashflow per share26.06p
Cash per share162.31p

Air Partner

Citywire AAA-rated value star Keith Ashworth-Lord has upped his stake in jet charter business Air Partner (AIR).

Ashworth-Lord increased his investment in the company by 1% to 10%. At a share price of 139.1p, the stake is worth £7.3 million. The shares have rallied from around 77p in mid-2016 to the highest the stock has traded since 2008, with the sharp fall in the graph above showing the impact of last January's one-into-five share split.

The shares are held in the £247 million CFP SDL UK Buffettology General fund and feature as a top 10 position. Ashworth-Lord previously covered the stock as an equity analyst at WH Ireland.

Air Partner arranges both freight and private charter flights. It said it had enjoyed a ‘strong start to the year’ in a trading statement last Autumn. At this point, the company forecast profits of £4 million, up 33% on 2016. Following the update Cantor Fitzgerald reiterated its 'buy' rating, on a price target of 170p.

Key stats
Market capitalisation£171m
No. of shares out66m
No. of shares floating53m
No. of common shareholdersnot stated
No. of employees64
Trading volume (10 day avg.)m
Turnover£3m
Profit before tax£-3m
Earnings per share-6.79p
Cashflow per share-4.53p
Cash per share8.74p

Bango

Citywire AAA-rated Liontrust duo Anthony Cross and Julian Fosh increased their stake in online payment specialist Bango (BGO).

The small cap has performed incredibly well over the past 12 months. Its share price has risen 275% to 258p during the period. This has come on the back of a series of major contract wins for the company, including being signed up as Amazon’s carrier billing service provider in Japan and Google Play’s mobile payment operator in Nigeria in November. It also expanded its presence in the US through the acquisition of BilltoMobile and launched into the South Korean Market.

Bango’s results last year revealed that trading was ahead of expectations and investment in its systems means it can process more than £5 billion of sales per year.

Cross and Fosh have raised their investment in the company 16% across their Liontrust Special Situations and UK Smaller Companies funds. At a share price of 258p, this equates to £27.4 million.

Key stats
Market capitalisation£239m
No. of shares out1,213m
No. of shares floating886m
No. of common shareholdersnot stated
No. of employees76
Trading volume (10 day avg.)2m
Turnover35m USD
Profit before tax-1m USD
Earnings per share-0.02 USD
Cashflow per share-0.01 USD
Cash per share0.02 USD

Amerisur Resources

Citywire AA-rated Philip Rodrigs has upped his position in AIM-listed Latin American oil and gas developer Amerisur Resources (AMER).

Rodrigs’ employer River & Mercantile acquired an additional 15 million shares in the business, taking the total up to 77 million. This equates to 6.3% of the share capital. At a share price of 19.8p, the position is worth £15.2 million. By comparison, Amerisur traded around 65p four years ago.

The largest chunk of the shares are held in Rodrigs’ £877 million R&M UK Equity Smaller Companies fund, with a smaller stake in his colleague Dan Hanbury’s £311 million R&M UK Equity Income fund.

Amerisur has yet to enjoy much of positive momentum associated with the broader oil price recovery, despite its recent announcement of positive results from a large field.

Fusion Antibodies

Citywire AAA-rated leading micro-cap buyer Paul Jourdan has initiated a meaningful position in Belfast biotech business Fusion Antibodies (FAB) after it started trading on London’s AIM market.

Jourdan bought a little over 6% of Fusion Antibodies’ shares. At the current share price of 163p, this equates to £2.2 million.

The shares are held in his £61 million Amati VCT and £57 million Amati VCT 2, which he runs alongside AAA-rated Douglas Lawson and David Stevenson .

The opening price of 123p was in itself a hefty premium to the 82p offered by Fusion ahead of IPO when it raised £5.5 million to expand its lab space and up its sales division.

Spun out of Queens University Belfast in 2001, and a specialist in antibody sequencing and research since 2011, the business reported a profit of on turnover of £1.4 million last year.

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  • Air Partner PLC (AIRA.L)
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  • Bango PLC (BGO.L)
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  • Amerisur Resources PLC (AMER.L)
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