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Anyone know when this will be announced?
Shore Capital Markets cuts CMC Markets to 'sell' from 'hold'
CMC in collaboration with Joe Kunkle, Options Hawk.
https://www.cmcmarkets.com/en-gb/share-baskets-trading/joe-kunkle?dclid=CIe5-o260v4CFRTh1QodaQIJDg&utm_source=gdn&utm_medium=display&utm_term=programmatic&utm_campaign=uk-prospecting-sharebaskets-2023&gclid=EAIaIQobChMIhpGk_rjS_gIVB-jtCh2_2AGnEAEYASAAEgL_CfD_BwE
176-192. What's occurring?
PS for legal reasons thats a joke!
Im a long term holder!!
LOL
Colluded Means Concluded, markets
I love the Freudian slip there Mark, I think you meant 'concluded' lol
The original decision was meant to be colluded by June 2022 (I cant remember if we've had prior official communication)
So clearly the decision was made not to do it
However my point is, given the current extremely deflated share price , will this prompt a reverso ?
Exactly. I first invested here just before that announcement - when is it going to happen?
PS and a market cap of £467m vs £722m!
Tellworth Investments LLP 0.48% 4 Apr 2023
Even the shorters are using this opportunity to close their positions
I genuinely this this price is a reflection of sentiment and very low volume due to fear of the unknown
its definitely not based on fundementals or technical analysis (heavily oversold now for 9 days!!)
Strangely enough I stumbled over an old CMC article about "Splitting up CMC is ‘bleeding obvious’, says founder Cruddas" - "he believed the £722 million business was “absolutely” undervalued by the stock market and that separating its two main divisions was a “no-brainer”.
I appreciate the review is long gone, but those statements were made at a price of @ 243
No. It's a mystery and not one I'm particularly enjoying.
I'm guessing the market was spooked by the curiously timed trading update, but I'm hoping the fundamental value will eventually be reflected in the price. IG is not exactly flying either.
Is it really warranted to drop this share from circa £2.40 to circa £1.60 on slightly lower forecast especially since the company bought back around £30m worth of shares last year? Anyone have any ideas as to what’s going on? The update was right in the middle of all the banking crisis which would have created a lot of volatility. Very strange
Thanks Pan that's helpful (i'd missed s11), but im more suspicious of the timing?
Sadly, I think it's just ineptitude rather than cloak and dagger.
RNS section 11 states "This notification is being made following identification that because of a reduction in the number of voting rights as a result of a share buyback programme undertaken by the issuer, the percentage of voting rights held by the person subject to the notification had moved through a disclosure threshold. There has been no change to the number of shares held by Peter Cruddas"
Date on which the threshold was crossed or reached vi: 14 October 2022
Date on which issuer notified (DD/MM/YYYY): 30 March 2023
cloak and dagger stuff or what !
Cruddas increases his holding???
I agree threeputt..bring it forwarded, releasing it intra day???, including march's number when march aint finished??
I also said previously that it "feels" like an ulterior motive"
If im being ultra cynical Cruddas is 70 soon and a £2.50 bid would have been rebuffed..would it now??
also why release the trading update on 27th March when they told us they were going to "announce its pre-close FY23 update on Friday 14 April 2023" within the January trading update ? Why the rush to bring it forward ?
Hi Freedom
Its not the revenue, its reduction is profit due to expansion which personally I feel justified :-
FY 2023 net operating income is expected to be between £280-290 million
FY 2022 net operating income guidance reiterated at £250-280 million.
FY 2023 operating costs circa £230m
FY 2022 operating costs circa £180m
Hence they can still point to growth whilst reflecting a transient increase in costs:- "These strategic objectives underpin the expected 30% growth in net operating income based on the 2022 results over the next three years."
Brokers
Jefferies downgrade to Hold, cut PT to 190p.
CMC Markets Plc : Peel Hunt buy cuts target price to 355p from 462p
CMC Markets Plc : RBC buy cuts target price to 310p from 350p
"The 6 analysts offering 12 month price targets for CMC Markets Plc have a median target of 242.00, with a high estimate of 355.00 and a low estimate of 190.00. The median estimate represents a 37.97% increase from the last price of 175.40."
I also assume the recent volatility has been of benefit to cmc ,do they hedge against their clients trades or are they exposed to being on the wrong side of the trade. Who other than Jeffries downgraded cmc and the recent profit guidance how far below expectations is it, ie 20 m ?
still puzzled with several things regarding the trading update,
- "lower equity volumes in Feb & March" - really ? the sell off and volatility just prior to the update must have been off the scale and right in their sweet spot, I would have thought they must have been inundated with margin calls, maybe the update was written before the recent volatility
- why issue the update during trading hours ? - most unusual
- all these broker downgrades coming in day by day rather than all at once
It's like they are all doing their best to drag the sp down, I know it's unlikely but the sceptic in me is looking for some form of ulterior motive
167, blink and you missed it......and I did
Jefferies have always been the lowest of all brokers and yet its still 20% above current
Here is the full set for clarity:-
Share price forecast in GBX
The 6 analysts offering 12 month price targets for CMC Markets Plc have a median target of 242.00, with a high estimate of 355.00 and a low estimate of 190.00. The median estimate represents a 37.97% increase from the last price of 175.40.
Jefferies downgrade to Hold, cut PT to 190p. Third downgrade in a week.