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EXCLUSIVE: Alastair Smith, Avacta Group CEO gives an Operational Update


Plus500 Share Chat (PLUS)



Share Price: 1,523.00Bid: 1,528.00Ask: 1,530.00Change: 38.00 (+2.56%)Riser - Plus500
Spread: 2.00Spread as %: 0.13%Open: 1,486.00High: 1,532.00Low: 1,486.00Yesterday’s Close: 1,485.00


Share Discussion for Plus500


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f15jcm
Posts: 957
Opinion:No Opinion
Price:1,511.00
RE: IGG TRading Update today
Thu 15:52
No idea. Good day for a tree shake with the IGG update I suppose
 
HeresHopin
Posts: 3,036
Opinion:No Opinion
Price:1,491.00
RE: IGG TRading Update today
Thu 13:30
Lol. What are your thoughts on that drop of more than 50p at 12:30?
f15jcm
Posts: 957
Opinion:No Opinion
Price:1,481.00
RE: IGG TRading Update today
Thu 13:14
I just got my girlfriend to buy some, was always going to happen!
HeresHopin
Posts: 3,036
Opinion:No Opinion
Price:1,450.00
RE: IGG TRading Update today
Thu 12:37
Good job f15jcm - not sure what just happened here - dropped 40p in a couple of minutes down to 1453.
f15jcm
Posts: 957
Opinion:No Opinion
Price:1,488.00
RE: IGG TRading Update today
Thu 10:12
Well at least my bet on IGG has seen a profit. Hopefully the same will be seen here in the fullness of time.

IGG hadn't priced in ESMA effects before today, PLUS already has.
justdeezerts
Posts: 167
Opinion:No Opinion
Price:1,488.00
Trading update soon?
Thu 10:06
Not sure we will get a trading update before Q3 RNS which is usually announced in last week of October. Last year's trading update made on 27 Sept 17 was to alert the market of some exceptional results for 2017. Doubt whether there will be the same euphoria this time around. That said, PLUS is still a great investment for LTHs (IMHO). GLA
MrBB
Posts: 1,711
Opinion:No Opinion
Price:1,476.00
IGG TRading Update today
Thu 08:53
we have a trading update due any day now & it will be interesting to see how it compares with IGG s assessment of The Market.
justdeezerts
Posts: 167
Opinion:No Opinion
Price:1,429.00
new investors - welcome aboard!
13 Sep '18
ARiger
Posts: 14
Opinion:Strong Buy
Price:1,435.00
RE: FT Lex Article
13 Sep '18
Well, until recently it traded on the AIM and not the main London stock exchange. it is an Israeli corporation, so a foreign corporation from British investor view point, the industry itself is a very unpopular industry.
The “Founders” have been selling for a long time and market participants didn’t like that. (although most of them are not involved in daily operations anymore and have other ventures, a red flag will be if the CEO or CFO sale shares), PLUS’s IR is lacking in many aspects and they communicate porly…
Now that we have clarity regarding regulation a re-rating is more logical, it’s positive for the large industry players, there are now higher berries to entry compered to 2008 when PLUS started operating and since they are the largest player in the industry in the U.k they should get a valuation which is closer to the former #1 player-IGG.
nkhatt
Posts: 1
Opinion:No Opinion
Price:1,434.00
RE: FT Lex Article
13 Sep '18
Anyone have thoughts on why PLUS has always been trading at a discount compared to peers. Both PE and EBIT multiples have been consistently low (7x FV/EBIT in 2017, 3x FV/EBIT in 2016)? The company has done great but the multiple re-rating has not happened.
sk8dad
Posts: 123
Opinion:No Opinion
Price:1,400.00
RE: FT Lex Article
12 Sep '18
Well, the trades through the day are typically in the low or teen thousand pounds, but from 16:38 onwards they are almost all printed as buys and they are significantly bigger trades.. for example 2 trades over a million pounds.. I look predominantly at fundamentals but this still looks interesting to me.
Tom78
Posts: 1,099
Opinion:No Opinion
Price:1,400.00
RE: FT Lex Article
12 Sep '18
What about them?
sk8dad
Posts: 123
Opinion:Strong Buy
Price:1,400.00
RE: FT Lex Article
12 Sep '18
Anyone else looking at the late trades printed for PLUS..?
ARiger
Posts: 14
Opinion:Strong Buy
Price:1,400.00
RE: FT Lex Article
12 Sep '18
Sk8dad, I Read what you wrote, I would say that the base case scenario is actually little impact from new regulation and continued growth, that’s what management said last E.C and they gave a very conservative guidance going forward. If that scenario should manifest than a multiplier rerating will happen and a S.P of 30 £ sometimes next year is a probable outcome.

To the member who wrote about the withholding tax- that has absolutely nothing to do with PLUS’s value.
f15jcm
Posts: 957
Opinion:No Opinion
Price:1,400.00
RE: Forward Earnings
12 Sep '18
I'm not even talking comparison for a short on IGG. There's just no room for disappointment in their next trading update later this month. SP's of CMCX and PLUS have both pulled back recently, presumably because of ESMA uncertainty, leaving room for surprise to the upside. The same can't be said for the IGG SP, 'trading in line' is almost certainly in their price at the moment.
HeresHopin
Posts: 3,036
Opinion:No Opinion
Price:1,400.00
RE: Forward Earnings
12 Sep '18
You also need to discount the dividends and earnings because of the hefty witholding tax. Still cheap though I agree.
HeresHopin
Posts: 3,036
Opinion:No Opinion
Price:1,400.00
RE: Forward Earnings
12 Sep '18
As said before, you have to apply a decent discount because of the reputation of the company and its directors, which isn't great.
sk8dad
Posts: 123
Opinion:No Opinion
Price:1,398.00
RE: Forward Earnings
12 Sep '18
I'm no qualified analyst, but I've pulled the PLUS accounts apart thoroughly, and ran various DCF valuations, and can find nothing untoward here, in fact far from it, they would have to issue an absolutely horrendous update and close shop for the rest of the year to justify this price. Amazingly, this company, which has lost over 30% of value since 9th August, is also the only company in the UK to have a ROCE above 100% and a Price to FCF ratio less than 10. Taken individually, these are incredible values, but taken together suggest a ridiculous opportunity - I invite others to screen for these 2 ratios and highlight any other matching companies. So, unless there is information being shared behind closed doors, this is a massive disconnect between price and value.
f15jcm
Posts: 957
Opinion:No Opinion
Price:1,382.00
Forward Earnings
12 Sep '18
https://uk.reuters.com/business/stocks/analyst/PLUSP.L

The range in estimates from the two brokers covering PLUS (Numis (house broker) & ?) is quite narrow, yet the market seems to be doubting these estimates. The same market seems convinced by IGG's guidance/coverage.
f15jcm
Posts: 957
Opinion:No Opinion
Price:1,377.00
RE: Might as well....
12 Sep '18
A horrific September trading update is all but priced in here. A short on IGG looking ever more tempting given it's near all time highs.
HeresHopin
Posts: 3,036
Opinion:No Opinion
Price:1,382.00
RE: Might as well....
12 Sep '18
Now needs a 50% rise just to get back to where it was about a month ago!
f15jcm
Posts: 957
Opinion:No Opinion
Price:1,368.00
Might as well....
12 Sep '18
...have stayed on AIM
sk8dad
Posts: 123
Opinion:No Opinion
Price:1,417.00
RE: FT Lex Article
12 Sep '18
Completely agree ARiger - I've done some DCF calculations, and posted some other info on ADVFN if you're interested.. but essentially this is absurdly cheap regardless of what's happening with the SP. Its priced ridiculously cheap on a price to FCF basis, and I can only see that being returned to shareholders. I believe the ESMA effect has been highly overdone, especially as PLUS grows its revenues in non-EEA territories (not at the expense of the EEA) and should convert around 60-75% of EEA revenue generating customers to Professional status.
ARiger
Posts: 14
Opinion:Strong Buy
Price:1,462.00
RE: FT Lex Article
12 Sep '18
Pointing out again to the absurdity of current valuation, EPS for the coming two years should be around 2 £ in a no growth scenario, with 2.39 £ of cash per share on the balance sheet and a market price of 14.62 £ that means the company trades at a multiple of 6.1 ex cash. that is extremely cheap compared to PLUS’s earnings power. A multiple like that is usually reserved to a decaying business and all evidence show that that is not the case with PLUS, I actually believe that the future will show it is completely the opposite.
f15jcm
Posts: 957
Opinion:No Opinion
Price:1,505.00
RE: FT Lex Article
11 Sep '18
Thanks. Makes no reference to IGG who are equally affected by ESMA regs, whose share price continues to rise despite declining user numbers.




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