Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Brooks Macdonald & four other stocks on fund manager hit lists

A roundup of trades by professional investors. This time, we look at Chemring, Renew, Brooks Macdonald, Brammer and GB Group.

If you'd like to receive news alerts on any of the stocks mentioned, click on the star icons below to add them to your favourites.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Key stats
Market capitalisation£422m
No. of shares out193m
No. of shares floating190m
No. of common shareholdersnot stated
No. of employees3693
Trading volume (10 day avg.)2m
Turnover£625m
Profit before tax£-47m
Earnings per share-24.57p
Cashflow per share-1.40p
Cash per share6.93p

*Correct as at 9 May 2014

Chemring

Citywire AA-rated Paul Marriage has trimmed his investment in defence group Marriage trims Chemring (CHG) following several years of disappointing returns as the group restructures and paid down debt.

Marriage reduced his investment in the business from 11.54 million shares to 8.02 million or 4.15% worth £18.13 million at a share price of 217p.

The shares are held in his £1.3 billion Cazenove UK Smaller Companies and £438 million Cazenove Absolute UK Dynamic funds.

Shares in Chemring are down 66.4% over three years. JP Morgan recently cut its price target on the stock from 260p to 240p, rated neutral.

Company revenue has fallen from £724 million to £624 million since 2011 while profit has fallen from £213 million to £186 million, leaving it exposed to debt costs from a previous acquisition cycle.

The company has announced a wave of disposals under chief executive Mark Papworth, bought in last year to head a turnaround, including the £138 million sale of its munition business last week.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Key stats
Market capitalisation£150m
No. of shares out62m
No. of shares floating53m
No. of common shareholdersnot stated
No. of employees2006
Trading volume (10 day avg.)0m
Turnover£350m
Profit before tax£9m
Earnings per share14.70p
Cashflow per share17.65p
Cash per share8.71p

*Correct as at 9 May 2014

Hargreaves takes profits after Renew's jump

Citywire AA-rated small cap stockpicking veteran Giles Hargreave has sold into a renewed outburst of strength in engineering group Renew Holdings (RNWH) as its shares were upgraded on acquisition news.

Hargreaves trimmed his stake in the company from 8.04 million shares to 7.97 million or 12.97% worth £19.68 million at a share price of 246.9p.

The shares are held on behalf of private clients at his broker and investment business Hargreave Hale, and in portfolios it manages on behalf of Marlborough Fund Managers.

Renew bounced more than 17% at the end of April as broker Numis raised it to ‘buy’ from ‘add’ and lifted its price target from 215p to 260p, following news it was spending £17 million to buy wireless telecoms specialist Clarke Telecom.

Shares in the business has been on a sprint up to March, rising 149% over the previous 12 months, but after topping out at 247p the company has largely traded sideways.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Key stats
Market capitalisation£226m
No. of shares out13m
No. of shares floating10m
No. of common shareholdersnot stated
No. of employees363
Trading volume (10 day avg.)0m
Turnover£63m
Profit before tax£8m
Earnings per share65.17p
Cashflow per share87.31p
Cash per share140.38p

*Correct as at 9 May 2014

Cross and Fosh build Brooks stake

Citywire AA-rated Anthony Cross and Julian Fosh have extended their margin as the largest shareholders in Brooks Macdonald (BRK) as their stake in the business rose above 16% for the first time.

The two managers increased their holding in the company from 2.12 million shares to 2.15 million or 16.17% worth £36.70 million at a share price of £17.07.

The shares are held in both their £1.23 billion Liontrust Special Situations fund and their £243 million Liontrust UK Growth fund.

Investment and financial planning business Brooks Macdonald has largely traded sideways since topping out at a record high of £18.09 in early March.

Liontrust is a long-term shareholder in the business having bought into its initial float in 2006 at a price of £1.50.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Key stats
Market capitalisation£621m
No. of shares out129m
No. of shares floating124m
No. of common shareholdersnot stated
No. of employees3109
Trading volume (10 day avg.)0m
Turnover£652m
Profit before tax£24m
Earnings per share19.87p
Cashflow per share24.65p
Cash per share15.00p

*Correct as at 9 May 2014

Thomas trims Brammer stake

Citywire AA-rated Nigel Thomas, one of the most consistent and reliable fund managers in the UK, has downgraded his exposure to industrial parts supplier Brammer (BRAM).

Thomas reduced his investment in the business from 13.47 million shares to 12.91 million or 9.99% worth £61.45 million at a share price of 476p.

Shares in Brammer surged more than 180% over the three years to September 2013, but have since largely traded sideways as it has issued shares and a European industrial recovery proved elusive.

The shares are held in his £4.85 billion AXA Framlington UK Select Opportunities fund, which remains the largest shareholder in the business.

A number of analysts have downgraded the company in recent weeks, with N+1 Singer cutting its price target to 440p as it reduced its recommendation to a sell while Jeffries cut its target to 440p.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Key stats
Market capitalisation£183m
No. of shares out118m
No. of shares floating113m
No. of common shareholdersnot stated
No. of employees263
Trading volume (10 day avg.)0m
Turnover£39m
Profit before tax£4m
Earnings per share3.80p
Cashflow per share5.11p
Cash per share5.80p

*Correct as at 9 May 2014

Octopus

Octopus Investments has wrapped its tentacles around more of a specialist in identity data. Octopus has bought another 289,000 shares in GB Group (GBG), worth around £400,000. That means Octopus now owns a total of 4.4 million GB shares, equivalent to 4% of the whole firm.

Citywire A-rated fund manager Richard Power holds GB in his Octopus UK Micro Cap Growth fund. The fund has returned 65.7% over the past three years, compared with an average of 61.9% from his peer group of small-cap investors.

GB hasn’t performed too shabbily through that period either: since 2011 its share price has quadrupled from 38p to more than £1.50.

As a business, it sells what it calls ‘identity intelligence’; its activities range from recruitment background checks to validating bank accounts.

It recently raised £11 million to buy DecTech Solutions, an Australian fraud and credit risk manager. GB predicted that the acquisition would immediately enhance its earnings. When announcing the deal, it also lifted its profit guidance for the year ending 31 March 2014 from the £7 million estimated at the start of April to £7.2 million – which would be 30% more than in the previous year.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Anthony Cross
Anthony Cross
86/153 in Equity - UK (All Companies) (Performance over 3 years) Average Total Return: 53.08%
Julian Fosh
Julian Fosh
87/153 in Equity - UK (All Companies) (Performance over 3 years) Average Total Return: 53.08%
Nigel Thomas
Nigel Thomas
78/153 in Equity - UK (All Companies) (Performance over 3 years) Average Total Return: 54.02%
Paul Marriage
Paul Marriage
33/52 in Alternative UCITS - Long/Short Equity (Performance over 3 years) Average Total Return: 22.33%
Giles Hargreave
Giles Hargreave
20/42 in Equity - UK Smaller Companies (Performance over 3 years) Average Total Return: 72.81%
Richard Power
Richard Power
38/42 in Equity - UK Smaller Companies (Performance over 3 years) Average Total Return: 49.87%
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter