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Franchise group Taste Holdings [JSE:TAS] – which mixes fast food with jewellery retail – has endured a solid enough tenure on the AltX. Unlike many of its AltX countermates it hasn’t got much wrong… strategically or operationally. However, sentiment has mainly been reserved for its bigger competition, such as Famous Brands [JSE:FBR] and (to a lesser extent) Spur Corporation [JSE:SUR].
Still, Taste’s results to end-February were wholesome on almost every score – topped with a maiden dividend of 3c/share. With some reassuring cash flow generation there might be every reason to believe Taste can sustain some generous dividend servings. (See Punts, pg 41.)
But taste is a small cap contender and all kinds of doubts creep into traders’ minds when a share surges from 48c to 73c over a few weeks. Has the share run too hard? Has the easy money been made? Must I take profits?
Thankfully, the directors of Taste provide some tangible evidence for an argument about the share continuing to build on its gains. Last week three executive directors – including CEO Carlos Gonzaga – went on a bit of a shopping spree, buying up Taste stock worth more than R450 000 at prices ranging between 64c and 70c. It would be easy to dismiss the quantum of the buying as petty cash. But we must realise there aren’t always large lines of Taste stock available on the market.
The key, Finweek reckons, will be whether Taste’s directors continue to mop up available parcels of shares over upcoming weeks.
Before we delve further into this week’s table, it should be noted property magnate Des de Beer – who has been a regular feature in this segment this year – was conspicuously absent this week.
But De Beer’s fellow director Andries de Lange – through a trust – snapped up more than R1,4m worth of Resilient linked units.
If one thing stands out in this week’s table, it probably is some eyebrow-raising sales by directors of a number of promising small caps. Investors might well ponder why directors of Pinnacle Technology, Sephaku and Value Group were selling. Sales were also noted in popular second liners Bidvest and private hospitals group Netcare.
On the BUY side Jannie (chairman) and son Piet (CEO) Mouton scratched together a few more shares in PSG Group [JSE:PSG]; while Jens Montanana spent around R1,5m to up his stake in technology heavyweight Datatec [JSE:DTC]. And retail tycoon Christo Wiese – as my colleague Vic de Klerk no doubt duly took note of – acquired more single stock futures in Shoprite Holdings.
Still, Taste’s results to end-February were wholesome on almost every score – topped with a maiden dividend of 3c/share. With some reassuring cash flow generation there might be every reason to believe Taste can sustain some generous dividend servings. (See Punts, pg 41.)
But taste is a small cap contender and all kinds of doubts creep into traders’ minds when a share surges from 48c to 73c over a few weeks. Has the share run too hard? Has the easy money been made? Must I take profits?
Thankfully, the directors of Taste provide some tangible evidence for an argument about the share continuing to build on its gains. Last week three executive directors – including CEO Carlos Gonzaga – went on a bit of a shopping spree, buying up Taste stock worth more than R450 000 at prices ranging between 64c and 70c. It would be easy to dismiss the quantum of the buying as petty cash. But we must realise there aren’t always large lines of Taste stock available on the market.
The key, Finweek reckons, will be whether Taste’s directors continue to mop up available parcels of shares over upcoming weeks.
Before we delve further into this week’s table, it should be noted property magnate Des de Beer – who has been a regular feature in this segment this year – was conspicuously absent this week.
But De Beer’s fellow director Andries de Lange – through a trust – snapped up more than R1,4m worth of Resilient linked units.
If one thing stands out in this week’s table, it probably is some eyebrow-raising sales by directors of a number of promising small caps. Investors might well ponder why directors of Pinnacle Technology, Sephaku and Value Group were selling. Sales were also noted in popular second liners Bidvest and private hospitals group Netcare.
On the BUY side Jannie (chairman) and son Piet (CEO) Mouton scratched together a few more shares in PSG Group [JSE:PSG]; while Jens Montanana spent around R1,5m to up his stake in technology heavyweight Datatec [JSE:DTC]. And retail tycoon Christo Wiese – as my colleague Vic de Klerk no doubt duly took note of – acquired more single stock futures in Shoprite Holdings.
