Wealth Manager - the site for professional investment managers

WM - Wealth Manager
Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

AAA value star cuts Mattioli exposure ahead of results

Citywire AAA-rated value star Keith Ashworth-Lord has sold down his stake in Mattioli Woods

AAA value star cuts Mattioli exposure ahead of results

Citywire AAA-rated value star Keith Ashworth-Lord has sold down his stake in Mattioli Woods following a near 10% slide in its shares in the last six months.

Ashworth-Lord trimmed his holding in the company from 3.1% of shares to 2.6% or 678,100 worth £5.2 million at a share price of 777p, down 9.3% from a September high of 861p.

The trade was placed ahead of tomorrow’s interim results.

The shares are held in his £247 million CFP SDL UK Buffettology General fund with a smaller position in AA-rated colleague Alistair Currie’s Castlefield UK Smaller Companies fund.

Shares in the Leicester wealth manager and workplace pension specialist remain more than 200% richer over the last five years. Canaccord Genuity last month lifted its guidance on the stock to buy and its price target from 840p to 860p.  

That followed a trading update reporting assets client up from £7.7 billion to £8.3 billion in the six months to end November, and organic revenue growth of 15%.   

Chief executive Ian Mattioli (pictured) said: ‘Strong growth in revenue in the first six months of this financial year has translated into strong growth in [earnings before interest, tax, depreciation and amortisation] with Ebitda margin for the first half tracking substantially ahead of our 20% target.  

‘I believe the group remains very well placed to succeed in its chosen markets and our profit outlook for the year remains in line with management's expectations.’

Share this story

Leave a comment!

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

Share this story

dot

Related Fund Managers

Keith Ashworth-Lord
Keith Ashworth-Lord Average Total Return:
63.34%
1/165 in Equity - UK (All Companies) (Performance over 3 years)
Alistair Currie
Alistair Currie Average Total Return:
35.56%
28/54 in Equity - UK Smaller Companies (Performance over 3 years)
dot
dot

Top stories

Read More
dot