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looks like multi-millionaire Baron Investments from twitter (https://twitter.com/barondaytrading) is in this now. He's not said anything on it but he's updated his investment page.
I don't know this, what's the catalysts from here? It's been on a very good run of late!
Its been tipped just about everywhere so that could be a reason. Few larger buys seem to have pushed it up
...at 279p. Good and continuing growth, falling capital intensity, and a falling to a PE of nearly 10x 2021. Also, cash on the balance sheet which is always nice to see for a smaller Company. Nice pick up today, though can't find why. Anyone know?
Here's the cached content of the article:
https://webcache.googleusercontent.com/search?q=cache:VLG7Otam23EJ:https://www.telegraph.co.uk/investing/shares/questor-codemasters-looks-cheap-keenly-priced-acquisition-keep/+&cd=1&hl=en&ct=clnk&gl=uk
One of three Midas tips for 2020: Over the past 40 years, video gaming has become a £90 billion industry, with sales rising by around 9 per cent annually.
Codemasters is a relative minnow in the sector but it is growing faster than the rest of the market and chief executive Frank Sagnier believes that the group can double in size over the next five years.
The shares have had a good run in recent months but, at £2.78, they are still undervalued compared to rivals and should continue to gain ground this year and beyond.
Codemasters specialises in racing games. The group is best known for its Formula One series, but it is behind several other successful titles, such as Dirt, Rally and Grid, all based on the racing theme. Late last year, Sagnier added to this collection, acquiring Slightly Mad Studios, another racing-focused developer, which is launching a game based on the Hollywood blockbuster Fast & Furious in May of this year.
Sagnier is ambitious – and rightly so. The gaming industry is not just growing fast, it is also evolving, as digital games become increasingly popular, downloaded instantly from the internet.
These games can be played on computers and mobiles and they are considerably more profitable for developers such as Codemasters. They do not have to create a physical product, they can bypass traditional retailers and, importantly, the games can be upgraded over time, with consumers paying for new features and accessories.
Around 60 per cent of Codemasters’ revenues come from digital games and this is expected to rise to close to 90 per cent over the next few years. Sagnier has also signed a deal with one of China’s biggest gaming groups, NetEase, which should prove hugely rewarding. And Grid is one of the first games on a new streaming service from Google, Stadia, a little like Netflix for gamers.
Brokers expect group sales to increase by 18 per cent to £84 million in the year to March and £114 million in 2021. Profits are forecast to rise 9 per cent to £14.5 million this year, more than doubling to £30 million next. Midas verdict: Codemasters is a fast-growing business in a resilient industry. At £2.78, the shares are a buy.
If anybody has the full article please post here
"Investors should be taking note," stated Berenberg.
On the back of its now higher estimates, Berenberg said Codemasters shares were left trades on a price-to-earnings multiple of only 12x, which was more than 40% below that of its global peers.
"Codemasters' enhanced positioning could ultimately lead to interest from potential acquirers should this discount fail to narrow," said the analysts.
Berenberg said the group was now "an apex predator" within racing games, with lower revenue concentration, better growth opportunities and exposure to all categories of the genre.
"Simply put, Codemasters is an undervalued asset. Buy."
Sure has moved now. Cant say I saw this acquisition coming . I thought the placing was just abut an early investor leaving. Turns out they have bought a vey lucrative add on to increase earnings dramatically. Broker market equally dramatically upgraded from £3.10 - £3.70. Fortunately I was out and about otherwise might have easily fallen prey to the MMs favourite game 'tree shake!' £2.00 my arse
3 buy recommendations from brokers this morning but little movement on the half year report.........
about to say for less five shares but my partner keeps showing me camper cans on eBay so I pressed the post button by accident before I'd finished, Drives me nuts! Good feeling about this stock. Some good backers. Vroom vroom
Picked up another few for the same value
Basically a placing fully subscribed by ints, so no dilution. managed get a few @2.115. Then it was immediately back up to £2.14. Imagine this is quite tightly held. Anyway seem to be well prepared for Christmas market.
That was a large volume of shares put back on the market. No impact on price though..
New game out 11 Oct. Trailer here: https://youtube.com/watch?v=kSJzeLep-Xg
Available on PS4, Xbox One & PC. Launch and Ultimate editions available on pre-order. Codemasters seem to have done a marketing deal with esports outfit Gfinity to promote the game:
https://www.prnewswire.co.uk/news-releases/gfinity-and-codemasters-join-forces-to-launch-new-grid-game-847758900.html
310p price target from Peel Hunt
Spot on blackwash. I'm always reluctant to buy post results... Good results here. Not invested but keeping an eye here...
strong hints of insider trading. Big rise last week in advance of the full year results followed by a dump on the good news.
Excellent results, ebtida up 59.8% from £11.7m to £18.7m, EPS up 64.1% from 8.1p to 13.3p. Today should be interesting. What P/E are CDM being based on?
Full year results are out on Monday. Looks like they might be beyond previous expectations....
Pickup in buying lately.
DJF,
Did they announce earnings? Not seen any RNS or news. Where did you get this update from?
Happy with this trading update...
FY19 revenues £71 million
Adjusted EBITDA £18.5 million
Gross cash £18.4 million
This is bobbing along nicely. The start of the f1 season probably had something to do with it.
Some great reviews. Feedback from gamers on Twitter seems to be good.
Is also appearing in Top Sellers on Steam's store.
Has a forward P/E of 17.2 (with share price of 194.50, according to Reuters Stockreports+).
H1 revenue was £39.7m with adjusted EBITDA of £10.0m, according to November's interim results. Net cash of £16.7m at 30 September 2018.
Major shareholders:
Reliance Big Entertainment Singapore Pte. Ltd 28.5%
Swedbank Robur 7.1%
Canaccord Genuity Wealth Management 6.1%
Slater Investments Limited 5.4%
Sand Grove Capital Management LLP 5.4%
Soros Fund Management 5.3%
Janus Henderson Investors 4.3%
Merian Global Investors 4.1%
River & Mercantile Asset Management 3.5%
I like this share. Been in for a while and going to hold.
And they keep coming. Good opportunity to buy here before the herd cotton on.
https://twitter.com/dirtgame/status/1100319560736026625
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"One of the best driving experiences available right now" - Eurogamer
"Dirt Rally 2.0 feels great, looks good, and sounds fabulous" - 8.5/10 - IGN
"Codemasters delivers another captivating rally title that will have you swearing in fear and delight" - 8.8/10 - Game Informer
"It's easily one of the most thrilling racing games in recent years" - 9/10 - Push Square
"It's the best rally sim out there right now" - 9/10 - PCGamesN
"Dirt Rally 2.0 is still the best simulation of the sport you'll find" - 4/5 - Twinfinite