The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Some very impressive large purchases coming through today. Both Legal and General and Hargeave Hale (as part of their discretionary contracts) taking large chunks. Not only does this reduce total shares in free float meaning easier step ups, they generally show an intention of long term holding which is rarely seen with AIM market shares. Some extremely positive stake building by private individuals also. All coming together nicely.
And now today leg &gen
Well two rns's one confirming vision capital sold out and another stating Johnson has been buying :-) when you look at the value of this to its assets it's got to be a possible take over target
Times today says vision capital sold out, did not mention buyer but will be disclosed due to percentage. If johnson is the buyer will be interesting to understand eventual aim.
Definitely something afoot, not sure exactly what but the volume was huge. A lot of buying earlier in the day as well.
Record annual daily volume today with almost all of it "sells", in 4 transactions late in the afternoon with one amounting to 11m shares. Hard to decide of EHG is bullish or bearish though. Any thoughts?
Wow. Looking forward to seeing who the buyer is.
Luke's other "baby" showing good results and up 8% today.
Interesting to read johson talking about his investment (but not name elegant) im his sunday times column yesterday
There is an argument for it being undervalued, however there is also an argument for it being fairly valued. The industry is clearly cyclical, and with most the customers coming from the UK and the sterling devaluation, we could see pressure in occupancy numbers in the near term. Hotels having high fixed costs means our P/E ratio could rise quite quickly. The valuation of the properties is based on some multiple or dcf analysis. When these "experts" make these valuations, they always forecast earnings continuosly increasing. The projections were made in 2015 looking forwards, before Brexit and the sterling devaluation so would have ignored all these factors. I don't trust the value of the numbers provided by the independent experts. I always value properties how I see fit, and my more conservative approach has always been better. Going forwards however management contracts looks like a safer less capital intensive business model, I think shares are a sensible bet overall given the valuation of a number of other companies out there, but I wouldn't make the argument that these shares are dirt cheap, I mean we have a number of risks include 100% carribean exposure, and the carribean as a whole has its own issues from a macro perspective.
Not sure the hype about Luke J is warranted, as CAFE has not had a good time after Brexit. Can't comment re PIER. Just see this as completely under-valued. Views
Not sure the hype about Luke J is warranted, as CAFE has not had a good time after Brexit. Can't comment re PIER. Just see this as completely under-valued. Views?
Dg. Agreed - would be interested to know who the seller is, this is a sizeable % not easily accumulated on the open market
Worth looking at the recent history of PIER, which used to be the ecletic bar group. Share price has shot up after johnson has come in.
Well he is someone who can see a bargain and he will want a good return on his investment,share is well underpriced..
The Holdings RNS issued 28th October has been seriously underplayed. A serial entrepreneur in the leisure industry behind names such as Pizza Express/ Giraffe and Patessire Valerie has obtained a 10.64% stake in the total voting rights. MASSIVE investment in the context of things. EHG has held up well with strange summer weather in the Caribbean and the strength of the dollar for holiday makers. The board were very positive in their recent trading update and the Dividend on this share is currently one of the best you will find, especially in the AIM/small cap world. Company seriously undervalued against NAV which will continue to be the case with expansion of hotels and actual floor space within on the Island itself. Very interesting for me that they are moving onto the other Caribbean Islands, shows very identifiable expansion policy and one where you can see future growth especially as the Caribbean becomes more accessible for people. Increased my holding here at the end of last week and looking at further top ups going forward. A real long term winner this share IMHO. DG
This was the barrier last time, so I am looking for a rise over 85p and holding there. Views?
In my opinion, this is a prime target for a takeover by one of the big names.
Don't really see that with the volumes, but may not ne shown yet. Fundamentals talk - NAV and 10% dividend - try getting that elsewhere. GLA
Agree. What is the catalyst though - an institution coming in?
Now that's more like it! At last a reasonable lift for a significantly undervalued share. GLA
My buy order showing as a sell, spread is not as high as shown
There does not seem to be much buying interest even at these levels! Any opinions? Last time there was support at circa 65p.