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These will go up after end year results. Not many buys or sells as everyone is just waiting for the good news. Which will happen soon. So it's a hold'em not a fold'em.
I traded today twice in this stock, via HL and neither trades appear in the trade list. Same yesterday.
Normally other stocks my trades pop up on LSE.
Any ideas?
I think one of the problems with this share is the spread, it can appear as much as 5p at times, but when you get a quote it is less than 1p. SUPERSONICTRADER The Casino always wins, but agree with you on the buying opportunity at this price.
The way they are ripping off there customers I'd say they will have bumper profits. Should be at least a pound a share. It won't be long this will pop. And you will never get this price again . So load up now.
I do not know the reason for the recent pressure on the share price, but it is a good entry point in my opinion, and for the last two hours of trading today the spread was as good as it gets with this share, it is already my biggest holding, and I will keep adding to my holdings in Rank at the current valuation.
A better place since last year if the TU was anything to go by.
One day we willl be millionaires Rodders.
Thanks Mary.
I di remember reading that last week, but couldn't fathom where exactly we are right now in relation to those covenants.
And when an announcement of a dividend might be forthcoming.
JG68
Covenant restrictions - however these are easing and should allow dividends to return "as circumstances permit"
n January 2024, the Group successfully secured a new £120m club facility, comprising a £30m Term Loan and a £90m Revolving Credit Facility ('RCF'). The tenor for the Term Loan element is two years and nine months and the RCF is three years. Both the Term Loan and RCF have market typical tenor extension options which are at the lender's discretion.
The new facility retains the two financial covenants which were applicable to its previous facilities, net debt to EBITDA not to exceed 3x and EBITDA to net interest payable of no less than 3x. In addition, there is an additional covenant referred to as a Fixed Charge Cover ratio, where (net interest payable plus operating leases) to (EBITDA plus net operating leases) can be no less than 1.5x. The Group expects to retain significant headroom against these covenants.
Does anyone know what circumstances they're referring to when they said in the recent results:
The Board has not proposed an interim dividend but expects to recommence dividend payments as soon as circumstances permit.
As recently as Febuary ( 6 weeks ago)
ank Group recovery drives shares and impresses analysts
Last updated: 15:54 01 Feb 2024 GMT, First published: 15:49 01 Feb 2024 GMT
Bingo wheel with balls Rallied [70 p to 78.4p high]
Rank Group PLC (LSE:RNK), the owner of Mecca Bingo and Grosvenor Casino, saw shares soar around 5% after a “solid” set of interims, which highlighted strong recovery in all its channels.
Last year was filled with challenges, most notably weakened demand, plaguing the group’s financial results, with the six months to December 2022 producing less than £3 million in operating profits.
This year around, operating profits rose by £19 million to £21.7 million, largely due to a 9% increase in like-for-like revenues, which reached £363 million in the six months.
Bingo site closures and lower energy costs also helped, offsetting headwinds like the increased expenditure required for workers.
Grosvenor Casinos experienced a 10% uptick in like-for-like sales, with weekly averages rising above analyst estimates to £6.4 million and closing in on management’s target of £7 million.
Last April, the government announced it would be implementing reforms to the gambling industry, with companies like Rank expected to be affected.
Although the reforms haven’t been put through, management forecasts an £8 million hit due to the changes for staking limits online.
However, with changes to bingo also expected, analysts are confident Rank will see a £15 million to £20 million benefit.
With trading continuing positively in 2024, Shore Capital analysts are buyers of the stock and even see scope for operating profits to return to £100 million.
Wallowing around the lows again - ready for a shoot up before long IMHO
In the ISA of the accounts, pop, add & trim or trim and add.
Plenty of ways to lose your blouse.
The 16:20 trade sure enough was an AT trade, gosh MaryBr190 that is a lovely sum to be holding in Rank, well done.
Also the AT trades seem to adhere to the spread prices as has happened with 16:20 share sale just now, again I do not know why, but guaranteed that 16:20 trade will be an AT trade.(find out in 15 mins)
Even tried a sell of 100k shares from an account and got the full offer 69.53 / sometimes 68p but obviously not dumping other than the traders
Yes you could add at 65 & 66p early and get over 69.53 in a trade - tomorrow who knows - due a rerate.
Jg68 I do not know why but the spread here is usually a nonsense , typically in reality there is under a penny difference between buy and sell price, at the moment quote is 67p sell and 72.2p buy with aj bell, but the real price is 69p buy 69p sell.
To add I just got quoted 69 to buy and sell!
Pop
The spread is huge here, would your attempts demonstrate they are desperate for your shares?
The share price has been under a bit of downward pressure the last three trading days, I have been adding throughout, and today at 12.15 the buy was at 65p and despite numerous attempts I could not buy any, not even one share, the sell was at 62p and MM would take all my shares @62.35p, 4 minutes later sell at 65.5p. At the moment I can sell at a better price than I can buy For, it is a dodgy game sometimes.
Hi Mary,
Can I pick your brains please?
To trim and add is there an optimal starting size in your opinion ?
if I'm looking at £5k chunks, then 5% swings gives me £250 each way... but are we talking months between each end of the pendulum and ummmm .... possible to get to net sum zero.
Also is there a ticker you can suggest I look at to demonstrate the strategy
🙏🏼
Dean
Anyone know the restrictions on paying dividends?
They refer to "expect to restart very soon" and " as soon as circumstances allow"
I can't find what these circumstances are.
I've seen restrictions on debt covenants referring to 3 x debt to ebitda and 3 x ebitda to interest payments.
Prize asset UK going going gone.
Great entry 👌
Rank announce the possible closure of another one of their bingo sites Mecca Stoke. This comes on the back of the announcement last month of the possibility of their Mecca site in Dundee closing. Perhaps they are relying too much on what the white paper for slot machines will bring. I fear more of their bingo sites will follow