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Correct buy back finished. There is now a big seller out there
Well that must be close to the £4 million spent now.
Kestrel have bought a few more and now own 22.93%:
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Directors-Dealings/89989459
And CNIC have bought back another 210k at 155.5p:
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Transaction-in-Own-Shares/89989401
Https://citywire.com/funds-insider/news/david-kempton-my-seven-exciting-stock-picks-for-2023/a2406612
"CentralNic Group (CNIC)
This £450m company provides global domain name services, including registry, distribution and strategic consultancy, with a rapidly growing business that helps its clients monetise the traffic to their sites through online advertising. First-half growth was 63% with the chief executive confident the second half will be at the high end of an already raised forecast, while still on a modest price/earnings (P/E) ratio of 9 and price/earnings to growth (PEG) of 0.9. The company is highly cash generative with very strong recurring revenue."
Plus a further 208k shares bought back at 157.7p:
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Transaction-in-Own-Shares/89981955
I don't get this comment. a) it was to be expected that some profit taking would take place after the SP increased 20% in a few weeks, b) what if the seller would sell for other reasons than profit taking and the share buyback would not be in place and c) the buyback will be accretive to EPS regardless of short term SP considerations.
There is still a big seller, in this stock.
This share moves up in 1p, 2p and falls in 5p's.
Looks like the 4 million, will be wasted money.
I see Kestrel bought another 17k shares last night at 154.5p - they now own 22.88%.
And another 269k shares bought back at 157.5p:
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Transaction-in-Own-Shares/89972745
And 2 x 175,000 trades and still the sp refuses to budge
Another 250,000 shares bought back, at 154.8p:
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Transaction-in-Own-Shares/89962922
Presumably that 200,000 purchase is not part of the buyback. Quite a decent tug. Never understand what drives a share price up
I see we have quite a decent rating on Stockopedia now (I don’t subscribe)). Always a bit behind the game I found. I suppose they are not in the business of prediction but they are slow in playing the ball.
Another 281,000 shares bought back, at 156p:
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Transaction-in-Own-Shares/89952754
- a further 84,000 shares bought back at 155.5p
- Kestrel continue buying and have bought another 87k shares - they now own 22.83%
- Chelverton have sold a few and have gone below 5%
So Ben even retired at around the same time as Eddie Jones leaves England ( a decision they may well regret. )Similarly they have been replaced by their right hand men! What fantastic job Ben and his team have done. This has grown into a bigger and bigger part of my PF. Still find it extraordinary that we were able to take the placing plus extras on the scale that I did and a few under the placing too. However Cnic is not entirely alone in this pricing anomaly . Some encouraging signs from certain tech and biotech companies since Christmas. Gl all for the next hike!
Been a while since posting here - we were back in the mid-1.20s and had the fall post the most incredible Q3 results on AIM.
Really exciting time for investors here - I must admit...I was actually quite negative about Ben leaving and the pause in acquisitions/returning of cash. I realise it what short-term Mr Market wants...but I genuinely believed that Ben was going to deliver more 'jam tomorrow'. Anyway...comforted by the fact that apparently Max has driven this (I am meeting him by chance next week...so will enquire more)...he knows more than me about 10+ baggers so happy to put my faith in him.
They generate so much cash anyway, I don't think they need to completely pause acquisitions...will just be balanced with buybacks. Assuming the lack of SP reaction in previous quarters has been a mixture of the company not returning cash and also the fact they have not been full-year results - one would think that the FY update coming up with a buyback programme now in place...we should see a more sensible response.
Crazy to still be looking around at so many rubbish companies at terrible valuations rocketing 100+% over the past month during the rally...we should be at 2.50 minimum and even then we would still be ridiculously undervalued. GLA.
The Company and Kestrel are certainly keen to accumulate shares before the trading update which can only mean one thing. ;)
Gutted that Ben has retired but delighted with the markets response. This is now my biggest holding and very comfortable about it.
Thanks Rivaldo for your updates and hope we have a bumper year. Seems to have been tipped in a number of places which is also encouraging.
Another 268,000 shares bought back at 156.4p:
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Transaction-in-Own-Shares/89931137
Another £407,000+ of shares bought back at 153.5p yesterday:
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Transaction-in-Own-Shares/89922813
Some large sellers are being removed from the equation prior to the year end trading update on 30th January:
"Following on from the recent Q3 trading update on 22 November 2022, we are delighted to confirm that trading has remained robust since then and would now expect a full year outcome at least in line with the upper end of market expectations 1 . We will announce our Q4 trading update on 30th January 2023."
i.i.i have set up a momentum screen for small cap shares where:
The 50-day moving average price has risen above the 200-day moving average price
Price strength has been positive against the market over one year, three months and one month
Positive forecast earnings-per-share growth in the year ahead
CNIC are one of the top 10 shares highlighted in yesterday's article, with a P/E of 9.8:
Https://www.ii.co.uk/analysis-commentary/10-small-cap-shares-lead-recovery-2023-ii526472
Cheers janebolacha, nice write-up.
The buybacks are getting larger - 269,325 shares bought back at 156.4p yestreday:
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Transaction-in-Own-Shares/89912273
Another 156,591 shares bought back at just over 156p:
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Transaction-in-Own-Shares/89899884
Happy New Year to everyone here.....
And an encouraging start to 2023 for us CNIC holders:
- Kestrel continue to buy - they've bought another 74,000 shares and now own 22.7%
- and CNIC have started the buybacks with a bang, buying in 220,000 shares at 154.4p
Https://uk.advfn.com/p.php?pid=news&symbol=L%5ECNIC
All time highs. Been waiting all year for this and on the last morning of the year horaah. Looks good for 2023
Good to see the £4m share buyback programme launching today....
Https://uk.advfn.com/stock-market/london/centralnic-CNIC/share-news/CentralNic-Group-PLC-Share-Buyback-Programme/89877111
"The Board considers the Buyback Programme to be in the best interests of all shareholders, given the cash generative nature of the business and the strong performance compared to expectations. It reflects the Group's more balanced future approach to capital allocation."
PS : thanks Kirkyrip!