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Started: PeersCarter, 10 Jun 2024 21:14
Last post: PeersCarter, 10 Jun 2024 21:14
I hope for news shortly and recent moves in the SP should be part of the long haul back to 60p the last equity raise price.
Started: PeersCarter, 3 Jun 2024 20:34
Last post: PeersCarter, 3 Jun 2024 20:34
I hope for news next week prior to a closed period, my expectation is for the 11th or unlucky 13th for this.
Started: rivaldo, 28 May 2024 09:09
Last post: rivaldo, 28 May 2024 09:09
ALT were tipped this weekend as one of five small caps to buy this summer (and they're the only one of the five that appeals to me, although admittedly I'm already a holder!):
Https://ukinvestormagazine.co.uk/wp-content/uploads/2024/05/5-Small-Caps-to-buy-this-summer-June-2024-Report-v1.pdf
"Altitude Group operates as a leading provider of technology solutions and promotional products. They offer a comprehensive range of services, including marketing tools, CRM systems, and e-commerce platforms, catering to the needs of distributors and suppliers in the promotional products industry. With a
focus on innovation and customer support, Altitude Group helps businesses streamline their operations, enhance customer engagement, and drive growth through effective promotional strategies.
Fundamentals
Altitude Group Plc, a leading provider of branded merchandise solutions, continues to demonstrate strong growth and market momentum. The Group expects to meet or exceed consensus expectations for FY24, showcasing significant revenue and adjusted EBITDA growth of around 100% over the past two years.
Current trading remains robust, with strong performances in the Merchanting and Services divisions, and promising new Gear Shop contracts. With increased US credit facilities and solid cash generation, Altitude is well-positioned for continued success and is confident in its outlook for FY25, supported by strategic
foundations and a capable team.
Technical Analysis
Altitude Group's shares have recently completed a bottom pattern after breaking through resistance at 37p. The initial breakout in early May propelled the shares to 40p, followed by a slight retracement to retest the newly formed support at 37p. In recent sessions, there has been increased buying pressure, leading to a strong upward move, reaching the highest price since November 2023. This momentum suggests that we will likely see higher prices in the coming months, with a target of 53p."
Started: rivaldo, 1 May 2024 08:31
Last post: PeersCarter, 20 May 2024 21:09
Hard to not read today's update on the Directors options which is rewarding for what I feel is not an improvement in shareholder value.
It did say in total but a terrific start. Great business.
Zeus have issued a correction to their note about the new Gear Shop contracts - they're worth $12m in total over the next 5-8 years, so not per annum but still extremely material to ALT.
Excellent update today, with ALT at least meeting previously upgraded expectations.
To have already won new Gear Shop contracts announced today with an annualised value of $12m - for the next 5-8 years - is terrific news. And likely more to come.
Plus there's a £1.3m cash pile, well ahead of expectations, so no need to raise funds.
Zeus have a 57.8p valuation estimate, and have at present retained their 1.6p EPS forecast, rising to 2.4p EPS for the current year, although today's RNS presumably suggests the historic forecast will be beaten.
Here's the update for anyone who's holding here, despite this bb being deathly quiet!
Https://uk.advfn.com/stock-market/london/altitude-ALT/share-news/Altitude-Group-PLC-Pre-Close-Trading-Update/93752667
Started: ShareInvestment, 28 Nov 2023 07:20
Last post: PeersCarter, 30 Nov 2023 15:43
Market did not like the numbers but ALT is making progress and second half year is always its best section.
Pretty impressive numbers
Last post: PeersCarter, 8 Nov 2023 20:11
Seems to be on a downward trend with the last update being just ignored by the market. The macro economic climate is not helping small caps like ALT.
Latest news from ALT was not really noticed by the market and I suspect the next update will need to be fairly spectacular to get any traction in the SP.
Strong trading update
Started: Toxicfrog, 13 Oct 2023 20:50
Last post: PeersCarter, 14 Oct 2023 20:54
Seems someone is not too sure of the market and how results might be viewed
Anyone any idea what the huge sell off on this share is about?? 200k worth today is a mega amount. Really don’t understand with such strong results and update in 2/3 week..
Started: rivaldo, 12 Sep 2023 12:30
Last post: Toxicfrog, 12 Sep 2023 20:20
Nice article last night on Master Investor:
Https://masterinvestor.co.uk/equities/altitude-group-still-in-the-ascent/?mc_cid=8b859fb02d&mc_eid=db9f9bbaf2
"This little group has significant prospects, and its shares will rise accordingly, with so much more to go for yet"
Started: gemell1, 30 Aug 2023 15:48
Last post: Toxicfrog, 9 Sep 2023 13:12
I agree I think we will see late 50’s early 60’s this month and 70’s by the end of the year. Would be nice to see another RNS with some updates.
I believe that the share price will rise in the next few months as it becomes apparent the new ALT is going places especially in the US with the college market. A retest of the highs of the last three years is easy to see coming.
Mr 25k buyer in again today :)
Let's hope for positive news on more colleges coming on board as this will be the way ALT prove where the company is going in the near term.
2 buyers obviously in for news which they see as coming sorry, is coming :)
Started: PeersCarter, 13 Aug 2023 10:12
Last post: PeersCarter, 19 Aug 2023 21:43
The target you set of 100p needs a really good update in respect of signed colleges on the next update. I do think Nikki is capable of getting a decent number of colleges on-board but it does take time.
Toxic its still a buy in my book but needs to show real traction in.the US college space before most will acknowledge the new market it is in. The updates after Setember when colleges are all back will be the real test the market should look at. Gaining another 20 or so colleges makes ALT a 100p plus share.
Yes Toxic as SCSW is not a guarantee of the future market perform of a share hence my Conservative view.
Weak buy?
Seems that SCSW has a write up on Altitude giving it a strong buy rating. After the recent good update it seems a very easy stock to pick for a tipsheet.
Started: gemell1, 14 Aug 2023 08:14
Last post: gemell1, 14 Aug 2023 08:14
Please fasten your seatbelts
Started: rivaldo, 8 Jun 2023 07:57
Last post: Jins, 25 Jul 2023 08:19
Well we got 'growth exceeding original expectations!'
""This financial year was one of great progress, strong trading and record breaking results. We increased market share in our core markets and proved to be a disruptive force in a new market. As a result, the Group has shown growth across the business far exceeding our original expectations."
Overall very positive
Let's hope that ALT can report numbers that will lift the Zeus projected numbers, it will need a very good update or newsflash to get the SP any higher in a meaning full way.
Zeus have retained their 57.4p valuation and summarise:
"Trading update highlights strong start to FY24
Altitude has released a trading statement this morning confirming FY23 results will be at least in line with Zeus’ recently upgraded forecasts and trading in the first few weeks of FY24 has been strong. The upgrades put through at the time of the last update (28th March) were predicated on new contract wins in the Adjacent Markets Programmes (AMPs) leading to an increase in EBITDA expectations of 11.9% in FY24 and 24.2% in FY25.
The contracts underpin the strong start to the new financial year but encouragingly momentum has been maintained across the Group with both the Merchanting and the Services divisions continuing the positive performance seen during FY23. Zeus leave forecasts unchanged today, apart from a slight increase in FY23 net cash, but the strong start to FY24 provides confidence in estimates that factor in 47% revenue growth and 38% pre-tax profit growth yoy. Altitude shares trade below our valuation estimate, updated at the end of March, of 57.4p per share, offering 37% upside to last night’s closing price."
"Valuation: We continue to believe that Altitude shares trade at a discount to intrinsic value. Based on Zeus forecasts, Altitude trades on an EV/Sales multiple of 1.1x FY24, compared to a 1.8x average FY2 EV/Sales multiple for a broad set of UK small-cap software and services peers. Our DCF analysis provides a 54.9p per share valuation estimate and our discounted medium-term valuation estimate is 54.2p. The average of the three valuation estimates is 57.4p, which represents 37.0% upside to last night’s closing price."
Very nice update this morning - "significantly" ahead of last year is rather promising:
"initial trading has continued to be strong and is tracking significantly ahead of the same period last year"
And the USA-wide AMP roll-out augurs well:
"Merchanting continues to expand via its Adjacent Market Programmes (AMPs), which are progressing well with further contracts having been signed and other contracts now entering the final stages of legal negotiations . Currently, the AMPs national roll-out implementation has commenced in multiple cities across the United States, and we expect to provide further detail following the successful roll-out of our contracts towards the end of the first half of FY24 being September 2023."
Started: Toxicfrog, 18 Jun 2023 06:56
Last post: PeersCarter, 21 Jul 2023 21:29
Have a look at Stevebryl on ADVFN who has an interesting thought line on FOUR and ALT
Started: rivaldo, 28 Mar 2023 08:47
Last post: PeersCarter, 16 Apr 2023 20:11
If the run of company news continues to be upbeat in the form of beating market expectations the ALT SP might get back to the last equity offer level of 68p. ALT in my view is now a better prospect than back in 2019 when this equity was raised.
SCSW are again giving a write up on ALT suggesting it is doing better than its company broker forecast. If this is true and continues ALT getting to the 2019 valuation numbers could at last be on the cards.
Great to see per today's RNS the CFO investing around £20k of his hard-earned dosh in buying 41k more ALT shares. As the Board member with the most financial perspective, but usually by far the least funds, such moves are often meaningful.
And also to see 1.2m of MV's shares placed so easily with Simon Taylor. Which all bodes well going forward:
https://www.investegate.co.uk/altitude-group-plc--alt-/rns/director-dealing/202303290705015431U/
https://www.investegate.co.uk/altitude-group-plc--alt-/rns/holdings-in-company-and-director-dealing/202303290700065430U/
Zeus have today increased their forecasts, and have a raised 57.4p valuation:
Extracts:
"New major contracts and FY23 ahead of expectations
Altitude has announced multiple new contracts in its Adjacent Markets Programmes (AMP) that are expected to have a significant impact on Group revenue. Zeus adjusted EBITDA forecasts are upgraded 11.9% in FY24 and 24.2% in FY25 to reflect this. The Group has also guided that FY23 adjusted EBITDA is expected to be above expectations (£1.70m), so we upgrade by 8.8% to £1.85m. Today’s contract wins and confident outlook statement provide further positive momentum. Altitude shares trade below our updated average valuation estimate of 57.4p per share, 40.0% upside to last night’s closing price.
? Contract wins: The new contracts announced today relate to the Adjacent Markets Programmes within the Merchanting reporting segment. Starting in the first half of FY24, these multi-year contracts are expected to generate combined revenue of c. $30m throughout the respective five-year terms, providing better revenue visibility to the Group. The $30m includes $8m of signed contracts that are subject to US state clearance. In addition, Altitude is in late-
stage negotiations on a number of other contracts of material value to the Group, providing further upside and highlighting potential for continued rapid expansion."
"Valuation:
We continue to believe that Altitude shares trade at a discount to intrinsic value. Based on updated Zeus forecasts, Altitude trades on an EV/Sales multiple of 1.1x FY24, compared to a 1.7x average FY2 EV/Sales multiple for a broad set of UK small-cap software and services peers. At this peer mean FY2 EV/Sales multiple, Altitude would be valued at 63.1p
per share. Our DCF analysis now provides a 54.9p per share valuation estimate and our discounted medium-term valuation estimate increases from 53.6p to 54.2p due to the unwind of discount. The new contract wins announced today support the revenue estimates in our medium-term valuation analysis (£39.6m by FY26). The average of the three valuation estimates is now 57.4p, which represents 40.0% upside to last night’s closing price."
Wow the SCSW really made the market sit up and look at at Altitude, the writer really knows his stuff on small caps.
Started: PeersCarter, 11 Mar 2023 21:04
Last post: PeersCarter, 11 Mar 2023 21:04
There is apparently a write up on Altitude in SCSW which is upbeat for the company which should help maintain the recent upward trend for the SP continuing for a while.
Started: rivaldo, 14 Feb 2023 07:32
Last post: PeersCarter, 1 Mar 2023 19:11
Looks like the share tipsters who have recently given forth on ALT are on a winner. Another upbeat RNS currently due at the end of March should hopefully prove the tipsters right. Could be a share for decent appreciation by year end.
Zeus have upgraded FY23 revenues by 4.8% to £17.3m and adj. EBITDA by 17.2% to £1.7m. And I would assume they're being conservative in order to upgrade again after the end of March year end trading update.
Zeus conclude in today's research note:
"Valuation: Based on Zeus forecasts, Altitude trades on an EV/Sales multiple of 1.3x FY23, compared to an average FY1 EV/Sales of 2.0x for our broad set of UK small-cap software and services peers. Applying this average EV/Sales multiple to FY23 gives Altitude a valuation of 49.8p per share. Our DCF analysis provides a 52.0p per share valuation estimate and our discounted medium-term valuation estimate increases from 52.6p to 53.6p due to the unwind of discount. Our average estimate is now 51.8p, 54.6% upside to last night’s closing price."
They summarise today's update:
"Upgrading again
Altitude has released another positive trading update where results for the year to
31 March 2023 are anticipated to be materially ahead of current market expectations (revenue: £16.5m, adj. EBITDA: £1.5m). The Group has continued to expand its Services and Merchanting programmes, showing good underlying momentum, and has benefitted from a strong US dollar leading to greater earnings in GBP terms. As a result, Zeus upgrade FY23 revenue by 4.8% to £17.3m and adj.EBITDA by 17.2% to £1.7m. The US promotional product space remains strong, which is helpful, but Altitude continues to materially outperform the market. With its investment in Merchanting to date, a strong pipeline of opportunities, and expanded banking facilities, we believe the Group is well placed to maintain revenue growth momentum. Operational gearing should provide substantial drop through to earnings, as evidenced by today’s c. 36% increase to FY23 adj. EPS."
Always love to see that phrase - "materially ahead of current market expectations"....
And the outlook is as positive as can be:
""Following a number of positive market updates earlier in the year, we are delighted with this continued progress and are expecting to achieve record year-end results. In addition to our improved trading so far this year, we have invested in growing market share and have a reassuringly strong pipeline of opportunities. We look forward to updating the market further in the forthcoming months and to the next financial year with great enthusiasm."
Congrats to the Board (and to shareholders!):
https://uk.advfn.com/stock-market/london/altitude-ALT/share-news/Altitude-Group-PLC-Trading-Update/90226022
Started: rivaldo, 6 Jan 2023 11:51
Last post: PeersCarter, 7 Feb 2023 19:18
The way the US economy is going ALT with its income mainly generated there should be doing well. Let's hope for good news later in March to lift the SP for all holders who have had a bad last few years.
The way the US economy is going ALT with its income mainly generated there should be doing well. Let's hope for news in Marvh to lift the SP for all holders who have had a bad last few years.
Nice to share that and I am sure all long term holders would hope for the SP to rise from here. Last fund raising was at levels a long way above current SP.
ALT are featured in this week's issue of Money Week by Michael Taylor of Shifting Shares as a "top pick for 2023":
"Altitude is a technology company that provides services to the promotional merchandising and print industries in North America. The business owns the so-called AIM Smarter platform, which connects buyers, sellers, and manufacturers of promotional merchandising.
Naturally, the promotional events and merchandising sectors took a hit during Covid-19, but management managed to replace some of the lost revenue by sourcing PPE and hand-sanitiser suppliers and connecting them with buyers. Group sales are growing and the company reported last month that it was trading ahead of expectations.
House broker Zeus has forecast adjusted profit before tax of £0.5m this year. Valuing this company on a p/e basis makes the shares seem expensive, but that doesn’t factor in the rate of earnings growth and the mouth-watering long-term potential. This is a growing, $23bn industry, with roughly 75% of the transactions carried out offline."
Started: PeersCarter, 10 Jun 2022 23:33
Last post: PeersCarter, 31 Dec 2022 13:48
It will be a quiet time here until March when we will get updates. Assuming they show continue growth in income and membership the SP will continue its slow recovery towards 2019 levels. PEBB should have their 2022 results shortly and are a good indicator of how promo industry is doing.
shame people her stpped posting when so much is happening
Looks like the SP is going to new lows as newsflow will be quiet for a while.
Last post: PeersCarter, 14 Feb 2022 18:28
I do not believe we will get an update for at least a month as the director/insider could not buy if one was coming sooner.
Peed off I missed buying some yesterday as I planned!
News due?
GL.
& CFO buys a few
meantime chair's wife buys 30000 shares
Looks like ALT are in limbo for now. The ADVFN lot are on about it being taken private by a few of the large holders but cannot see that having legs. Let's see what the next trading update brings for a bit of proper speculation re buyouts.
Started: jollyspeculator, 13 Aug 2021 13:35
Last post: jollyspeculator, 31 Aug 2021 17:13
4-3-2-1
#liftoff
for this sp to double imv
Started: Tufftrader, 10 Aug 2021 19:29
Last post: Tufftrader, 10 Aug 2021 19:29
Has anybody got any explanation or opinion on why this has lost so much value? I can’t see much reporting on the matter. Much obliged.
Started: Toxicfrog, 9 Feb 2021 14:00
Last post: PeersCarter, 1 May 2021 08:13
A few weeks now for an update but if its upbeat I can see this going over 70p in a short period. ALT has a bright future with the US rapidly reopening for business.
The Chairman has not purchased any shares recently so not a good sign for holders. Cheap options are of course useful be they should be earned not given out for no real effort.
The reaction to MV buying shares after coming back to the BOD as a non exec is hard to rationalise. I hope for all holders he keeps on doing similar actions causing the SP to rise in the coming months. If the Chairman bought some it would surely send the SP ballistic
Martin Varley the biggest shareholder is back as a non exec which seems good news for the SP going forward. It might even be why we saw the recent rise. I hope he tries to sort out the terrible PR as whatever he does or changes to can't do much worse.
The company has an investor presentation tomz at 4pm and it is possible to login for free. I suppose this means they are raising money ?? to get through till CV19 issues end in the US. Hopeful for 21 with ALT when life should be a bit normal again.
Started: PeersCarter, 26 Apr 2021 16:42
Last post: PeersCarter, 26 Apr 2021 16:42
With the US opening up this could be one to watch in the next few months. Not long ago it was £1.20p and it could make some progress up to near this before 2022.
Started: PeersCarter, 23 Jan 2021 19:04
Last post: PeersCarter, 8 Feb 2021 14:06
The last update was not as awkwardly couched as previous ones and thankfully the SP has not tanked. The lack of insider buying suggests that they are not that confident of where the business is heading and will I fear be a reason for the SP to stay low.
Let's hope ALT do get an update out this week and finally use language and numbers that gives proper information to the market. Anything other than a large loss should reassure every holder as we know the promo business was shut for most of the reporting period. If results are better than I fear we should see 40p in a short period.
Started: PeersCarter, 21 Jan 2021 10:29
Last post: PeersCarter, 21 Jan 2021 10:29
Anyone here got an explanation of why ALTs results are so late. How does Covid delay accounts or management numbers with everything now capable of being carried out online.