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Henderson takes profits on Ashcourt Rowan rally
by David Campbell on Sep 09, 2013 at 00:01
McConkey trimmed his investment in the business from 3.83 million shares to 3.67 million or 13.59% worth £6.39 million at a share price of 174p, up 12.38% over the past month.
Shares in Ashcourt Rowan have surged since early August, when it announced it had sealed a £2.1 million deal to purchase the London-based private client division of Generali Portfolio Managers.
Ashcourt Rowan recruited the division’s founding chief executive David Palmer in January this year. In May broker Canaccord Genuity upped its rating on the stock from a ‘speculative’ buy to a buy.
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