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Worldquant still reducing, now at 0.77 from peak 1.31%. SP still fairly supressed (retail news?). Total declared shorts now at 2.96%
Fair point about the merger with Redde but that still valued Halfords at least twice the current market cap.
This is a very sound business with a good balance sheet. The auto centres side is booming and Spring has sprung which will spur on bike sales and car cleaning products. £2.50 is a conservative estimation of where we should sit today and not £1.55.
Well although I don't have time to write a detailed post, hfd is one I definitely got wrong, had some position in this since 2018 and while I got some multi bagger returns on covid purchases, overall the experience of holding has been dire... I'll need really look at what I got wrong with this one... Think my remaining position will be jettisoned shortly....
"Redde tables at 1.4 billion pound bid which the Halfords board said significantly undervalued their company".
You are using the merged market cap of two companies (Halfords and Redde) to extrapolate a value for one of them (Halfords). Halfords has a market cap of £343m because that's what the market currently thinks it is worth. Note that HFD's market cap is less than 1/2 what it was 2 years ago. If you have low and falling margins in a tough sector this is what you get. Valuing a company on a possible future takeover is like buying lottery tickets and holing your breath.
This market cap is crazy for what this business has, I work in the automotive industry (corporate leasing sector) and 45% of all our service booking and maintenance bookings goes through Halfords.
Redde tables at 1.4 billion pound bid which the Halfords board said significantly undervalued their company.
I’ve taken a sizeable holding alongside Enquest.
This is a keeper and if/when a bid arrives it’s happy days.
Halfords has fallen over every main time period. 1d, 5d, 1m, 6m, ytd, 1y, 5y, and since 2004. Is it possible that they need a different management team?
Considering Norges Bank have also reduced their position below 3% the share price is holding up fairly well.
Now in 10 th most shorted stock.
Worldquant reduce a tad but JP Morgan keep up the sellside pressure increasing their short to 0.67%. Total declared shorts now at 3.44%
Nice to see them suffering today.
Don't worry next week they will twist the market so they get their money back and more. Sadley the PI's don't stand a chance. Take care
In six years Graham Stapleton has been paid received something like £6m plus of salary, share options etc. He recruited his cronies from previous roles, and in that time the share price has been on a downward trajectory and underperformed against any reasonable benchmark. He has issued stock at high prices and continued to acquire new business and is now working out what to do. The market speaks.
These short sellers don't have all the answers either. According to the IG Group, 69% of their retail investor accounts lose money. Then there is this:
https://www.ft.com/content/dddd51c4-7c5b-4488-b935-6099788bbc89
JP Morgan shorts, Morgan Stanley buys. Who knows? Anyone's guess.
Halfords would be a good fit for Sainsburys with argos selling similar products to halfords would take out a lot of distribution cost and then throw nectar in their as well.
At this rate is will be in the list of the top 10 shorted stocks. I'm surprised the Chair and CEO and making new appointments. The div cover and op margin have halved. Scary stuff.
Worldquant single-handedly bringing down the SP, increasing their short to 1.31%. Total declared shorts now at 3.32%.
Worldquant are still upping their short, now at 1.24%. Total declared shorts @3.23%
If you take the 12 most shorted stocks in the UK half of them are retailers of some form.
According to the charts HFD is looking excellent to continue upwards, if it’s good enough for Morgan Stanley to keep on buying then it’s good enough for everyone else
HFD will be back to 200p + by next week
The question is have they both just bought a small amount to tip them over reporting limits or have they indeed between them bought 10% of the company in 5days? If so why? Coincidence both are reported today? 175 tomorrow?
Excellent
HFD rns Morgan Stanley bought 5.38%
If a takeover were to happen, my guess would be 240p.
I am hoping some info has leaked
Hopefully takeover bid at 250p that would be amazing
'Someone' is accumulating, Flat Footed LLC. The RNS was out a few days ago @ over 5%.
Hedgies vs Hedgies, interesting battle 🤓