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Times article: "Sir Brian Souter and his sister Dame Ann Gloag, the transport tycoons who founded Stagecoach, have sold nearly 11.6 million of their shares.
The millionaire siblings cut their holdings by the equivalent of a 2.1 per cent stake as part of a plan to reduce the family ownership from 27.1 per cent to 5 per cent over the coming decade".
The 11.6m shares they've just sold will be what's causing the drop. Those shares are being sold into the market - once the overhang clears, the share price willlll begin to shoot back up to where it was, because apart from the founders selling, which they're perfectly entitled to do, nothing has changed about the company. If they're planning to sell more sizeable chunks of shares over the next decade, they obviously anticipate getting a decent price for them or they wouldn't be saying that. The way things are going with Boris and the green revolution, public transport will become ever more in demand over the next decade and companies like Stagecoach will be perfectly positioned to capitalise. The public transport sector could very well be the big winners - over the next decade.
I bought here today. Saw the fall yesterday and I thought that was a buying opportunity. I released some cash today and got in near 91p
A founder selling would bother me if he was in the prime of his life but the guys are well into their golden years. Realistically they have been an overhang for a while
Institutions snapped them up and the rest of the stake sales will be handled the same with book builds so I see no issue
Re trading and manchester. I’m from manchester and the buses are busy! Also I think the reform policy when it comes around in 2025 won’t be in place
I think there will be a refresh of the current arrangements
It's getting ridiculous now.
What alternative does Manchester council has to Stagecoach? It appears to be a well run company which has been hit by pandemic, looking at the chart it's going up and having a correction. You probably sold at the bottom of this correction.
Yep all of his 5 and only posts are negative
Yep agree, why sell for a £700 loss.. whats changed since yesterday. They sold there shares to institutions. Someone saw value in there shares..
This will be moving up in the next few days dyor
Really got to question why you bought in the first place? Anyway, think you made a mistake exiting and see current sub 90p price as a great buy opportunity. Once the dust settles and common sense sets in the sp should soon be back to £1 imo. Atb
How low will this go?
Very badly managed family sale.
Wondering why the directors did not sell their stake in one go to another bidder or private equity, considering they want to exit the business. Why did they not wait for Covid recovery to be over and sp back at 140 to realise a better value? There is something more to this company or the directors are being given bad advice. Or they simply don’t care about the company. Very frustrating. I reduced some of my holdings at 92. Although I think this will be back to 100 within a month.
The director deals were done at 94p so that is the benchmark going forward as far as I am concerned - any significant dips I will be buying - moreover, which institutions have bought these shares and for whom - a big stake in the company being sold here so a takeover could be in the pipeline if enough shares acquired.
gla and dyor
These are not necessarily buys, they are all late reported trades. Most will be sells.
No problem here, SGH will swiftly be back above 100p but might be further downward pressure this week...
This will bounce back tomorrow, over done today. it looks like the big boys agree.
some decent after hour buys.
Time Trade Price Volume Value
18:28:29 92.32 200,000 184.64k O
17:07:12 92.193 38,965 35.92k O
17:09:18 91.95 4,082 3,753 O
17:14:13 92.503 5,900 5,458 O
17:14:08 92.1447 400,000 368.58k O
17:08:25 91.95 56,276 51.75k O
16:47:18 92.282 59,786 55.17k O
16:48:15 91.95 478 439.52 O
16:37:04 91.95 2,331 2,143 A
16:35:21 91.95 376,382 346.08k U
The price is down because the ftse has been down the last week
CHRI55, if this was expected, why did you buy at 100p.
It's not a good sign, that is why the price is down today.
I feel you pain livepari4. I think we may have to wait until 17th May for a correction, but I hope I am wrong. Good luck.
Really bad day for me as I have significant holding in this and nex as well. Hope tomorrow is a better day and we see some recovery from here. Quite opposing broker views from Hsbc and Deutsch Bank today. Some uncertainty but I think patience will pay. My expectation is 140-150 by end of the year. Good luck to all holding this.
From this morning:
* HSBC downgrades SGC to "reduce" from "hold", says concerned that bus and rail sector could emerge from coronavirus-led lockdowns worse, as bus journeys are likely to be impacted by more work from home and less high street shopping
* HSBC also downgrades transport co Go-Ahead to "hold" from "buy over similar concerns; GOG shares down 5.17% at 1,286p
Bought a lot of this and GOG today; they still have a long way to go to reach their pre-Covid prices and the public transport industry isn't going away any time soon.
I'm not telepathic, but I expect resistance at 95p for a while. Hope to see it over 100p next week. Just educated guess work so likely to be wrong. GLA DYOR and don't panic.
Likewise. I bought in August last year and took out my original investment when I hit 100% up. Left my profit in to grow a bit more to 115-120 mark minimum but with no intention of adding more. With a drop back like today's, I have added more as confident a climb back will come in the next few weeks. No panic needed here.
DEUTSCHE BANK RAISES STAGECOACH PRICE TARGET TO 120 (98) PENCE - 'BUY' -
The overall narrative of the UK Recovery hasn't changed - I will continue to add on the dips
gla dyor etc
Sold at 106 bought back 92.6 ??????
I have never touched this share but I am a National Express shareholder. When I saw the drop today, even I thought it was to good an opportunity to miss. It's defiantly been oversold - I would hope it recovers by Tuesday if not by Friday.
Topped up.. also at 91.50
The owners plan to reduce the holdings in a 10 year period by then they would be 88 and 77. So nothing wrong with the planning. Should be back up to £1 if not by tomorrow then in the next few days imo.