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I wrote to the CEO and FD as I could not believe that they sold massive amounts at the peak
Sale 22 JUL 2021
Stephen John Wadey
EXECUTIVE DIRECTOR,CHIEF EXECUTIVE OFFICER 152,986 3.31 506.82 k
Sale 22 JUL 2021
David Smith
EXECUTIVE DIRECTOR,CHIEF FINANCIAL OFFICER 114,804 3.31 380.33 k
Sale 8 JUN 2021
Stephen John Wadey EXECUTIVE DIRECTOR,CHIEF EXECUTIVE OFFICER 104,102 3.49 363.30 k
Sale 8 JUN 2021
David Smith
EXECUTIVE DIRECTOR,CHIEF FINANCIAL OFFICER 79,219 3.49 276.46 k
I can not believe that they behaved as rats fleeing the sinking ship
Everyone, I got the link from another board who triggered a petition against shorting
You may be interested to sign it as well so please circulate to all boards you are on and they are affected
https://www.change.org/p/department-for-business-energy-industrial-strategy-make-short-selling-of-shares-illegal
* solid
I bought a thousand for the bottom drawer
Recall because I am in my 50's,
it will be lost on many who are too young to remember.
That was an extraordinary case.
I bought a very small amount before the close
following a quick in out trade last week.
Not clicking a buy as unsure where
the SP will settle and want to see November's results.
The longer term record here has been sold,
acquisitions have been modest in size
and cash generation very solid -
but as always have no crystal ball on future events.
The conference call gives more detail than the RNS,
plenty of questions from various analysts.
Main concern I have here is a potential for cost overruns
with cyber being such a red hot area currently.
Reports of some extraordinary salary increases
for those with the requisite skill set.
Worth a punt as an hostile bidder may appear but doub`t it would be accepted for all of the groups assets given the Government involvement. Bit like BAE in same sector. Cost & supply are going to affect all manufacturing Companies earnings for this & next Year so can`t see this one going back up rapidly on earnings. See that Blackrock have slightly reduced so need to keep this in mind if they offload more and if sold shares have buyers waiting to get in cheaply. Quality Company so it`s a long term hold for me.
I do know what it does. However the nature of the business is such that many contracts are obscure. You will recall that ISC contracts were shrouded in secrecy due to their sensitivity and this obscured the scandal for a long time - despite (so-called) due diligence at the time of the acquisition.
You are aware of the nature of this business?.
I believe QQ to be a legitimate company but the mystery overseas contract does remind me of the Ferranti and ISC debacle. Th statement was far from clear.
On their IR site you can listen to Thursday's conference call,
including the analyst Q&A.
@JmcJ the way I do understand it is re the other statement that "the cash impact had occurred"
Which I interpret that they lost some less of 15 mill, amount not stated. This will be written one off. There is an extra risk for the incurred loss to increase to up of 15 mill then again we don't know out of the potential 15 mill how much is incurred and how much not.
So it will definitely be a write off of les than 15mill and max of 15mill IMO
I am afraid of what happened with Avon that even they announced a delay in the contract the SP dropped 15% and when it was re-iterated, like the market had amnesia it dropped another 14%
The language is a bit unclear though. I'm not sure if they're saying their mitigation will bring the loss down to £15m, or if the £15m is the worst case should the mitigation not work? Either way, a 13% drop in the market cap is over done.
"We are working closely with our customer and are making progress, jointly with our supply chain, towards recovery of the programme and mitigating this risk to less than £15m."
14% down based on 1% revenue risk
Got to love the markets. Especially cruel as always though when tricking newbies with a false bottom at 293.
Bit of a buying uptick today. Here's hoping for a takeover on this one.
Business keeps growing but the share price goes nowhere fast...?
I think actually the Govt sold its holdings in QQ but it still exercises certain controls presumably on security grounds.
Fully agree- been in and out of these quite a few times so far with good profits each time. Always surprised that they never seem to break out above £3.50. I suppose that unlike what has happened with other defence contractors there is little takeover speculation here as I assume the Govt still has a stake although of course could be wrong on that assumption.
Some decent buying on Friday £5M v £2M sells.
Final Dividend of 4.7 paid on 26 Aug, making a yield of 2.015%.
Not bad in these uncertain times, plenty of exciting things going on, healthy cash balance and IMO a safe bet with decent upside scope
Jack
Agree on all fronts, think it’s better that all the rampers and derampers give it a miss but doesn’t seem to leave much else. I have a very long time friend who works there who is always positive about what they are up to, if the hours and effort she puts in translate into share price we will be ok. Think it will be steady progress with a reasonable dividend happy with that myself.
It's like tumbleweed on this sharechat. Pretty sure the West are going to be heading into an arms race again. Got exposure to North America, Australasia, UK and the supply chains therein on recurring revenues, so seems like a safe buy.
arsenal58
Please let me know how you distinguish from the LSE download list of transactions which ones are a "sell" and which a buy? Here there is a colour code which is given depending if the transaction price is on one side or another of the median of the bid / ask.
So how can you see it on LSE file?
Wat's wrong with the trading update that the SP went 2% down?????
arsenal58, thanks for the link
I use those downloads, but given that every sell has a buy order I don't know how to look if there is a large seller with a large disposal broken into small buyers picking up the pieces.
How would you trace a large disposal on that download?
Bought in Tuesday with the close above 340p on higher volume. Close above 355p could see us testing the highs of February last year, 395p area.
https://www.londonstockexchange.com/stock/QQ./qinetiq-group-plc/trade-recap