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Metro Bk Share Chat (MTRO)



Share Price: 752.00Bid: 761.00Ask: 765.00Change: -20.00 (-2.59%)Faller - Metro Bk
Spread: 4.00Spread as %: 0.53%Open: 782.50High: 799.50Low: 744.50Yesterday’s Close: 772.00


Share Discussion for Metro Bk


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Lemming99
Posts: 1,066
Opinion:Strong Buy
Price:752.00
Early Christmas
Today 17:54
I was just looking through the RNS's from 22/5 for the various insiders, other halves and pension funds that have been persuaded to part with their hard earned. It makes an impressive list totaling £1m from Mr Hill and £790k from the minions and associates.

What's more impressive is from what I can tell that all of them except Vernon Hill are new shareholders. His shows as an initial notification as it's some legal entity. But frankly, I'm surprised the others didn't have skin in the game before. Perhaps they joined after the SP was a bit too high and haven't yet vested any options.

Ignoring the pension fund, that's 6 people accounting for a £690k investment. Yes they're sitting on a collective £345k profit so far (I hope they've bought from their ISA's or SIPP's). That's cool average investment of £115k per head. (I expect Stuart's a bit annoyed with his £2.5k profit)

Vernon Hill, initial notification as trust or some legal entity - £1,000,000

Alastair Gunn, initial notification (related to Pauline Gunn) - £60,000

Carey Pensions UK LLP (closely associated to Sir Michael Snyder)
Initial notification - £100,000

Eugene Lockhart, initial notification - £50,000

Stuart Bernau, initial notification - £5,000

Paul Thandi, Initial notification - £150,000

Craig Donaldson, Initial notification - £350,000

David Arden, Initial notification - £75,000

And last but not least the Norway Sovereign wealth fund have 1,889,610 (1.94% of the company), and 1,133,646 shares (1.16% of the company) that are on loan with a right to recall them at any time. Assuming they bought in at about £5.75 average that's a cool £17.3m investment. Or thinking about it, they probably took part in the £5 buy-in; does anyone know? That would be a mere £15.1m if so. Sitting on a nice £7.55m paper profit so far!!

Christmas has indeed come early this year for some. But it's a solid vote of confidence and much skin in the game.
 
Lemming99
Posts: 1,066
Opinion:Strong Buy
Price:752.00
RE: Hi Lemming...
Today 17:25
Hey GP, yes good to have a bit of diversification, I'm in Genel still. Nice to bag the maiden divi yesterday.

I think we'll see Metro have a bit of a pause (hopefully just over the weekend) then proceed. I'm encouraged that 4% of the shorting has closed up this week (i.e. one of the shorts with 0.44% of the stock). Of course ODEY has also increased its short position this week. I guess they didn't think the Norway sovereign wealth fund buying 3% of the company merited concern. It'll be interesting to see if any shareholders release an update on their position. That might put the cat among the rats and give them paws for thought. Ha!

Broadly speaking when you can buy a pound of assets for 75p or so, and those assets are cold hard cash + loans, I think it makes for a sound investment. When the shorters previously had MB on the ropes that was equally sound investment strategy (however unscrupulous). As they review their positions next week it would be interesting to see what's on their risk register

High risks
- Settlement / fine with the FCA - case closed
- RNS showing a major shareholder such as Norway Sovereign Wealth has bought some more
- RNS from MB giving some numbers to the Q2 profit warning and therefore taking the sting out of the "threat of bad news". Well of course, it's not so much a threat as a certainty. (but nothing to the £420m discount to NAV)
- Some of the other shorters cutting loose and fear of an expensive game of chase as the SP rises.
- Markets filling their boots buying stock as per yesterday. The speed with which the SP rose must cause concern. Especially if it didn't float back down to earth so readily next time. I guess some people having day trading fun with this one.

low risks
- I can't imagine there would be too much impact from a new PM and potentially faster no deal Brexit. But it will impact all firms and FS in terms of holding them back until it's done. As such we have until Halloween potentially with a bit of a break on the market.

We'll have to see what next week brings.
WorldGoRound
Posts: 1,995
Opinion:No Opinion
Price:769.50
RE: still opening more shorts
Today 12:49
every single sh down on this.

lowest sp ever

capital erosion.

very risky ex fad stock at risk of becoming has been relic of the 2010s
thereaper
Posts: 348
Opinion:No Opinion
Price:780.50
still opening more shorts
Today 11:41
still more shorts opened or increased what do they know? thought we would see a reduction of shorts now wtfdik though
gregpeck7
Posts: 2,293
Opinion:No Opinion
Price:777.50
Hi Lemming...
Today 09:57
Hi mate, yes I am in here... Added some more on the "slump" yesterday.. Starting to diversify away from oil.... Might not be the right thing to do but I am doing it... We tend to be pretty good at getting financial offerings right in this country, and now this challenger is fully capitalised I am expecting a robust performance from here. Certainly think we will be talking about a bagger in 12 months...

GP
appleby
Posts: 1,145
Opinion:No Opinion
Price:790.00
share movement
Today 08:06
Yesterdays spike up had a lot further to go , the amount of unfilled orders on buy side was huge . The price for some reason slipped a bit and the orders closed, may show point at which shorts cut out .
officemanager
Posts: 3,449
Opinion:No Opinion
Price:772.00
RE: Reversal
Today 07:33
Wonder how many people bought low and sold high , all the peters ? It's all about timing with some stocks, and you don't see the trolls until the jealousy kicks in.
Peter47 the " reversal" suits me fine, i'll dip in and ride the rise again, rinse and repeat, even you could do it.
halo2179
Posts: 5
Opinion:No Opinion
Price:772.00
RE: sp
Today 07:19
This share has a habit of dipping every Friday and I don’t see today being any different. Sp will close marginally lower at around 730-750 but next week would probably be another pump.
bigsmoke
Posts: 10,405
Opinion:No Opinion
Price:772.00
sp
Today 07:05
had to take a breather at some point.
if it can form a base at 800 then onwards and upwards.
zccax77
Posts: 512
Opinion:No Opinion
Price:772.00
RE: Same type
Today 02:44
I am not sure why Royal London keep on bringing this up, they own 0.03% of the ex-rights shares. Maybe one of the heavy hitter II's should buy them out and tell them to feck off. I am sure they have bigger fish to fry than constantly bleeting on about MTRO.
Phillip1976
Posts: 312
Opinion:No Opinion
Price:772.00
Same type
Thu 18:17
If buys today as yesterday after the bell
Jm1973
Posts: 17
Opinion:No Opinion
Price:767.50
RE: Reversal
Thu 15:57
I'm primed and ready for end of day "pop" . Ready to sell some ones purchased on the dip an hour ago.
zccax77
Posts: 512
Opinion:No Opinion
Price:752.50
RE: Reversal
Thu 15:30
Looks like Goldman revised their target price to 800p. Crooks, one day they will get it right.
4PetesSake
Posts: 5,035
Opinion:No Opinion
Price:752.50
RE: Reversal
Thu 15:27
Peter47

Some laughed at you but you were spot on.

I wonder how may bought on the spike and now find themselves 15% down.
sexykiwi59
Posts: 185
Premium Chat Member
Opinion:No Opinion
Price:753.50
RE: Reversal
Thu 15:22
This is worse than an AIM share. So corrupt
Peter47
Posts: 21
Opinion:No Opinion
Price:754.00
RE: Reversal
Thu 15:18
Officemanager - was that a swift enough reversal for you today ?
Lemming99
Posts: 1,066
Opinion:Strong Buy
Price:771.50
RE: re:I think I will sit in the garden
Thu 14:51
thanks zccax, managed to put the book down, it was too hot outside anyway. Too hot watching MTRO too.

I've updated the blog with the £12m cost still to book and have assumed a further £10m of random costs / lost profits.

As such we've got Q2 loss of £5m to £15.1m. I guess we'll find out 1 Aug.

Meanwhile it'll be interesting to see how the SP plays out. Roughly £14m of shares traded today.

https://lemming99.blogspot.com/2019/05/calculating-metro-banks-net-asset-value.html

Anyone know of any other banks I can buy shares in that have a discount to NAV and are normally profitable?
zccax77
Posts: 512
Opinion:No Opinion
Price:811.00
RE: re:I think I will sit in the garden
Thu 13:36
I would have understood if they raised the money in February before letting the share price crash, but they are paying a very high price for a poor outcome such as the mini bank run. A 5 year old could have seen that coming. The advisors are there to advise, but clearly not in this case.
appleby
Posts: 1,145
Opinion:No Opinion
Price:812.50
RE: re:I think I will sit in the garden
Thu 13:30
£13 m to raise £375m , I know it sounds mad but that is not that bad .
I raised £20m on a 5 yr mini bond issue for a property venture , total cost was £1.2m or 6% .
I looked at it as costing 1.2% pa for live of the bond.
It is nuts what it costs to raise money in this country.
zccax77
Posts: 512
Opinion:No Opinion
Price:815.00
RE: re:I think I will sit in the garden
Thu 13:09
molokai
Posts: 2,035
Opinion:No Opinion
Price:818.00
re:I think I will sit in the garden
Thu 13:04
Lemming99.. nice blog.
zccax77... £13m!?! Was vernons mrs arranging that too?!
Lemming99
Posts: 1,066
Opinion:Strong Buy
Price:815.00
RE: I think I will sit in the garden
Thu 13:01
Thanks zccax I've just had a look at the RNS's and company website and can't see that (although previous RNS's talk of funds net of costs). Perhaps the final costs are not in yet.

Can you share a link to something published? I'll then be able to update my blog as want it to be accurate.

Still no where near £420m though ;-)
zccax77
Posts: 512
Opinion:No Opinion
Price:814.00
RE: I think I will sit in the garden
Thu 12:50
That placement cost them £13m not £4m
Lemming99
Posts: 1,066
Opinion:Strong Buy
Price:812.50
I think I will sit in the garden
Thu 12:42
Getting a bit too exciting for me this roller coaster. Book is good.

I will leave you with some new analysis I've just done

https://lemming99.blogspot.com/2019/05/calculating-metro-banks-net-asset-value.html?spref=tw




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