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RNS today: if i am reading this correctly, another institution building their stake. Encouraging.
Reassuring results. Based on the underlying EPS of 17p, this is trading on 6x PER. Very cheap. Good upside potential imho but dyor of course.
nice
Results Tuesday. Hoping to see things on an even keel with a fair outlook, and divi prospects. Might they initiate a share buyback at these lowly levels, which would of course increase major shareholders stakes unless they sold into it , though as we saw a few months ago the share price can move sharply with buying support. Fingers crossed!.
The value of the transaction can’t have been significant enough to warrant notifying the market
Surely there should be a RNS on this divestment, it is arterial transaction ffs.
As is probably evident from some of my previous posts, I'm not enthusiastic about Knights, but this is probably a good move, and at least indicates a strategy to focus on more profitable areas....
https://www.lawgazette.co.uk/news/knights-sheds-conveyancing-business-to-scottish-incomer/5113028.article
99p bid now
Forensic - I would not compare Knights to Gateley. Gateley is a quality outfit with high quality lawyers and good quality clients willing to pay a premium for quality advice. Knights is a collection of bolt ons (most of which had a couple of decent rainmakers near retirement who just wanted out) so the model carries with it an inherent lack of consistency of quality and little coherent legacy. Gateleys clients are likely to be loyal and stick with them despite inflationary increases. In my humble opinion Knights will be much more exposed to pricing pressures and competition from the vast number of middle market law firms who are going to be competing for an increasing small piece of cake.
Calms my nerves a little!.
Ameriprise Financial, Inc have doubled their investment to 10%. Big move...
I agree darientaylor. KGH is very similar to Gateley. Gateley is valued at £247m. KGH at £74m. The market really should close that gap, its simply not right, imho. Gateley probably overvalued but KGH very undervalued. I have added significantly today. Always DYOR of course but this could easily be back up to 130-150p before too long.
Back to 140p in next 3 months
" With reasonable profits what chance a dividend here? ."
well depends on H1 results...probably pretty small for an interim
Yes indeed. Let's hope things are at least keeping steady . Still kicking myself for not cutting back a bit at 150 and taking the loss and with the benefit of hindsight of course I would have sold the lot. With reasonable profits what chance a dividend here? .
I would forget the full year results - the year ended end of April
The market is now looking more at now and Q1 which started in May..... any recession wont help if you have taken on a load of new acquisitions...they still have acquisition payments to meet and now more mouths to feed
There will of course be benefits from the acquisitions ..but...the market is being negative towards the current revenue/cost outlook with UK economy not really growing
Depends on their revenue outlook for the next 6 months I guess ....not the last year
IMO
Market Cap. here now £72mn with pre-tax profit already guided to be 18mn+, yes there's 22mn of debt but even so this looks very cheap. Rose to 150p after full year trading update and all the way back down again and 450p high in past year. I'd be buying more at these prices if I had the cash, in at near 200 I'm afraid. The piggy bank has been sorely bruised these past six months.
Just what I was about to ask!
Getting tempted!
any specific/particular driver (other than general market ) for this mornings 10% move down ??