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The tardiness of the update did not go unnoticed either. This one has got a strike against it for me now, but hopefully the next update will not show this company deserves to go in the bin.
Some of the senior management team might need cutting, as part of a commercial shake up, if we do see disappointment. Start with some of these inside sellers, whose remuneration is clearly too rich, if the numbers do not show justification for the rewards they enjoy.
Also, took a week to announce it which also smells and should have been explained as to why on RNS. Still holding, waiting like you for next results - hope I don't regret it.
I see another significant inside sell took place recently.
Hard to conclude this is a buy when you keep seeing such a lack of inside support, regardless of research.
Probably should cut my losses here, but am going to hold and see where this goes in the next few months.
Feels like a return to the 40's might not be inconceivable. Especially if these insiders keep on dumping their shares. Not particularly confidence-inspiring.
Unless we get a negative company-specific update, might take a few more at that point though. GLA.
Spent last night revisiting various material information and came to the same conclusion that I did back when I first invested here: that this is a buy (IMO).
What am I missing?
Those sustained inside sells and the overall SP performance has got me doubting my thesis, lol!
Have you come to a different conclusion to me, pilsudski?
Had precisely the same thought re the share sale this morning
Long term holder since the low 30s,top sliced half in the low 90s as i thought some of the tangents they were going off on looked a little flaky. Wanted to stay invested as I' ve always thought that NR and LH would be looking for an exit in the first half of this decade.
Its becoming a concern to me that nothing appears in the offing, (but these things can happen quickly).Maybe this partly explains the sickly share price this year. The recent IT confession doesn't worry me, I d rather hear about this sooner than later.
The AUM metrics look good but I need at this point to contextualize with some analysis. In particular I need to figure out where the company now ranks in its core currency overlay competence. NR was a pioneer in the 80s and a market leader in the run up to the IPO.Whilst it is one of the leading independents in the field,it's now pretty niche. Without LHs superb salesperson skills I worry a bit but not enough to bail and will be ready to add on a move
Does the company not pay Rebecca, apart from in shares?
How many more has she got/is she planning to offload?
Was planning to continue adding at various points during this drift downwards, but think I will sit on my hands for now.
It does not inspire confidence, quite frankly!
While it is never ideal to see a project fail and money wasted, it was not sufficient for me to exit my position here either, although I did not add (spread once again undesirable).
What are the thoughts of others here?
As an aside, I assume the low today will have taken out naked trader's long position, if he had not already closed it before today.
Well, it if can maintain that kind of performance and well-covered dividend returns, then it will be good enough for me.
My initial target was circa 80p, which I thought I would see before the next dividend was due, but happy enough to sit tight and collect said dividends. Subject to it continuing to perform profitably of course and other obvious caveats.
Might even mentally put it in the LTH basket, although undecided on that currently.
Nice to know I am not alone in this name, lol :) GLA.
I've been invested here for years and the share price has always seemed to be confusingly low. I think it's just because it's a boring company that doesn't get the press coverage or public interest so it flies under the radar. I've been adding to this since 2017 and even as the share price has risen it has been paying around 8% in dividends and special dividends most years. With zero debt and plenty of growth. I don't get it. Steady growth and reliable dividends just doesn't do it for today's investor.
Finally managed to get a few more. Sitting tight now and waiting to see if anything happens here.
GLA (assuming it is not just me on this chat board now, lol).
This one never seems to offer an attractive spread.
The chart looks rubbish, presumably because we have a seller, which is the reason for this continued SP drift down.
Unless I have mistaken something here, the last update was positive. Certainly nothing to warrant this activity, as far as I can tell.
Yet I also cannot pick up any shares on a buy order without paying the full offer price, or very close to it.
Fussy seller. Wish they would just dump and move on, so we can hopefully start to move towards a fairer value of SP. Hopefully when we get notification of the dividend date and number, perhaps. GLA.
I thought it was a good update too. Took a small, opening position the other day, and added another small tranche yesterday.
So, blame me for the SP reacting like the update was poor! GLA.
Fab-u-lous! What's not to like - especially £3.5m in performance fees.
2 days - looking weak ! :(
2 weeks - looking strong !
Paul Scott has just reviewed today's results on Stocko giving REC a Green rating. In summary to his in=depth review, he feels the drop has been overdone saying that this could be a good entry point (which I'm pleased with as I bought in on the drop this morning!) GLA
CEO is 68 years old and has 31 years at the company staying in an Advisory role. Replacement is already in place. Across the board, revenue profit is down but management fees were added to offset inflation over 2023/24. Overall not bad results.
The CEO has done 31 years and 68 I think it is a good time to step down. A bit of over reaction as normal by UK traders.
Not sure what to make of todays news (17/11), a mixed set of mostly negative results plus CEO departure a bit of a surprise (at 68). Her 3 year plan seems to have stalled.
I hope I'm wrong - I don't think its going to be a good morning.
Record plc issued a trading update for its Q2 ended 30th September this morning. Performance fees of £1.0 million were earned during the quarter with FY-24 YTD fees of £1.5 million. AUME were US$84.5 billion, including net inflows of US$1.5 billion for the quarter. Plans for diversification through the asset management and digital asset businesses continue to progress well, albeit in places more gradually than initially envisaged. Management will give more detail on strategic progress at half-year results in November. The balance sheet remains solid with negative net debt, valuation is average with forward PE ratio at 11.5x. Share price lacks momentum. Monitor for now..
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/REC/825
Happy enough with that, and glad to have the opportunity to top up this morning having been unable to add yesterday afternoon due to the LSE glitch !
Fairly confident these will re-rate following H1 results on 17/11 and dividend to come !
Https://recordfg.com/investors-centre/financial-calendar/
2023 Full Year Results - '12 months ending 31/03/23 - released 30/6/2023
RSI, is above the crucial bullish 50 level on both the daily and weekly charts , signifying a confirmed uptrend. Bollinger bands are still going sideways , not signalling as fast movement as yet. However the sp, volatility is declining, together with volume drying up. Straight lines drawn from troughs to the second subsequent peak provide a projected sp, of 95.
Did anyone watch the capital markets teach in last weeks, the presentation was on the IR site, but not the video last time I checked - a few days ago.
I'm in at an average 36p and good chunk of my equity has been returned via the dividend and special div, so it I guess it's been quite de- risked for me.
I still remain excited about the potential for the digital, asset management play. If they get that right it feels like there's plenty of upward opportunity left in the tank.
Balancing the solid currency activity with the new channels won't be easy, but if they manage that, and there's no reason in my opinion that Leslie won't, she a character, but I think a very capable one. I'm also impressed with Steve Cullen. Neil Records track record stands on it's merits. Then this could still be very much the start of the future.
stay on board. This company's future is bright.