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Basket case, as previously discussed.
Not great. Lost faith. Bailed.
PMI's up 20%. Didn't understand why ASTO hadn't risen.
Somebody buying in. Homework done. Sop value least double current price I think
A sudden surge in the share price today with no announcement.
…today marked announcement of the first such transaction…
Wouldn’t touch this thing. Of course, might make money out of it but there would need to be all manner of clever transactions and deals to make that happen. On its fundamental operations, appears to be an absolute basket case.
Alex Hoctor-Duncan - 425,377 @ £0.376 = £159,941
https://www.lse.co.uk/rns/ASTO/directorpdmr-shareholding-25km8txiy97o9bh.html
Christopher Mills / Harwood capital - 850,000 @ 0.35 = £297,500
https://www.lse.co.uk/rns/ASTO/directorpdmr-shareholding-fxrerosg2pffhpm.html
Bought a few back @37.5, which after selling at 41p shaved 3.5p off. It all helps. Hopefully we see asset managers start to turn as the market picks up. Also bought PMI.
Cant recall where may have been investors chronical, but also read that great consolidation is expected in the industry. Either could be taken out IMO.
Nearly another 1M shares transferred at 30p. I managed to sell some this week, but could only get a quote for the market size.
30-Jun-23 16:18:38 40.10 750 Sell* 40.00 43.00 300.75 O
30-Jun-23 16:18:11 32.00 500,000 Sell* 40.00 43.00 160.00k O
30-Jun-23 16:18:02 32.00 498,440 Sell* 40.00 43.00 159.50k O
30-Jun-23 12:44:51 40.50 12,330 Sell* 40.00 43.00 4,994 O
30-Jun-23 08:26:40 40.60 24,000 Sell* 40.00 43.00 9,744 O
Delayed trades from results, at 46p these were still the low end of the day on the 14th. Nicely covered up with at 42.1 buy of 23 shares. Gotta love market maker stocks. Im not decided what to do here yet, with an average quite a bit higher.
Nice for Christopher Mills to grab some at 36p, that kind of price would have been agreeable to me, lets see if 40p is going to hold. It might not.
26-Jun-23 14:00:29 42.10 23 Buy* 40.00 42.00 9.68 UT
26-Jun-23 13:50:32 40.20 6,316 Sell* 40.00 42.00 2,539 O
26-Jun-23 13:24:14 40.02 1,490 Sell* 40.00 42.00 596.30 O
26-Jun-23 11:40:27 40.10 100,000 Unknown* 40.00 42.00 40.10k O
26-Jun-23 11:46:01 40.00 46,890 Sell* 40.00 42.00 18.76k O
14-Jun-23 09:22:35 46.50 35,000 Unknown* 40.00 42.00 16.28k O
14-Jun-23 09:22:33 46.50 -35,000 Unknown* 40.00 42.00 -16.28k O
…and so it begins…
I’d stay on the sidelines for a good while. Might aswell set up home there. The only valuable piece is the stake in Parmenion. The rest is of questionable quality, but massively expensive to run as a business.
And hence your name -
I'm joining u on the sidelines - was in 60p got out at 73p
I have been watching this for a long while and can understand why it looks an easy pick with such a collection of experienced managers. but even in this lousy market it does no better than others,,, and one could argue worse!
I may prefer to miss this boat and keep watching for now.
Am sure Martin himself would not condone that lack of diversification. Might not end well.
I put most my SIPP £78k into Assetco at £7.75. I was Martin Gilbert's driver when he was CEO of Aberdeen Asset Management, a company he built over 35 years, and I have worked with Campbell Fleming on many occasions driving him as and when since 2016. I've invested in these guys simply because of their very successful track record and knowing them personally for a long time. Their committed and client focused.
Seems they bought back £6.6m of stock (£7.5m total agreed) in the last 3 months, at average 61p
Good to see them taking advantage of the price drop today 20/01/23 - 13800 at 71p.
Mind you, ASTO has been a laggard compared to the likes of LIO, IPX, ABDN and PMI. So, sp rise is well justified.
Loads of peeps cottoning on to sitting and holding asset management companies.
Nice little divie and whilst they are near their bottom, sit around until economy starts to grow again and voila: 2x - 3x your original investment. Well...at least that's my reason to stay invested!
Wondering same thing. Can’t think of anything else that might ignite this right now. Firm has a lot of streamlining to do to make the most of its multiple components. It’s like a messy buffet table right now.
Quite a leap in the sp - Parmenion deal?
Think markets need to see the FY Financial statements to better understand how the entire company works.
Today it seems completely ignored, for a variety of reasons as Chris also mentioned.
Surely this has to be worth £1 min
https://www.**********.co.uk/articles/q-a-with-harwood-capital-ceo-christopher-mills-dce2152/
v o x m a r k e t s .co.uk
Significantly undervalued.
Sellers are most probably the shareholders who sold their companies to ASTO and got freebie ASTO shares. Seems they have already dried up.
Goes ex-div
And
PMI - cross-read to ASTO - looks great.
Market waking up to how incredibly cheap this company is.
IPX stellar results today - a shining beacon for AMCs