With a Market CAP of £18million less the £10million cash MFX has in the coffers gives a market valuation of just £8million!! - just over 7 times earnings!!! and thats without the growth currently being seen. If MFX was being valued on the same metrics that peers in the market like 1PM etc are it would be valued at 0.5 times loan book value i.e £92million x 50%= Market Cap of £41million or 40p plus a share and thats without accounting for the £10million cash on the books it has. Perhaps thats why the last trade shown today is for a buy of 250000 shares at £45k
The results were very good...the sp drop is a good buying opportunity..This is heading much higher and sure to be tipped in publications and papers...my be this weekend...Better to hold shares in this company and Conister bank then some of the other major banks who should take a leaf out of Manx Financial. Manx is also a takeover target. Strong BUY !!
Graham wrote that the owner of equity stocks should regard them first and foremost as conferring part ownership of a business. With that perspective in mind, the stock owner should not be too concerned with erratic fluctuations in stock prices, since in the short term, the stock market behaves like a voting machine, but in the long term it acts like a weighing machine (i.e. its true value will in the long run be reflected in its stock price).
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