The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Analysts at Berenberg lowered their target price on video games developer Frontier Developments from 210.0p to 170.0p on Tuesday on the back of news that sales of its Realms of Ruin title had been "underwhelming and materially lower" than many of its other franchises.
https://www.sharecast.com/news/broker-recommendations/berenberg-cuts-target-price-on-frontier-developments--15449842.html
It had a go, but it looks like it is running out of puff.
It may even go lower before the bell.
Anyone value destroy like this would be out !!
Steam Autumn Sale is on right now …
How much are they charging for their warhammer effort?
£50, £60 and £65. It’s not actually in the sale event at all …
It’s poorly rated on Steam - ‘mixed’ rating means it’s marmite with limited length of enjoyment. £50 minimum for a failing game?!
They have missed this sale event completely. Next one will be the biggest sale of the year, Winter Holiday Sale. If they try to sell the game for anything over £25 they will struggle again.
The chairman leaving isn’t going to solve these wide-ranging problems …
Someone needs to step up and tell PI’s how they’re going to stop haemorrhaging share value.
Highly doubt they are F1M games, I would expect an announcement soon to say they are dropping F1M24 but continuing support on existing releases (F1M 23).
Can see this being a roller coaster until announcement of new game next FY.
I expect Jonny to be in the office 6 days a week getting this sorry ship back on track and kicking a lot of asses to make a good game that gets good reviews and actually makes some money.
I can’t see myself ever getting back in here - I was tempted at £2, and now look what they did to the price.
It’s like playing Russian roulet.
They’ve been treating the company finances like it’s one of their CMS games, with no consequences. Like they finish playing it, say “oh well never mind”, and then just press New Game.
I lost a fortune on this share and I suspect other PI’s still are.
The 25/26/27 CMS releases … are they F1 Manager games?! It’s really unclear if it is or if it’s something no new, or rehashes of old IP.
Beginning to look interesting.
Nothing like a hostile takeover couldn't solve
What happened is horrendous failure of what FDEV promoted as "our biggest game ever". Lanched last week. Presently at 931 in the Steam global sales chart, and dropping.
A good recovery started last month but now we are back below 200p. What happened?
Taken it off games console? It's designed for console, that's one of the main problems for PC users, it's fruitless and the UI is horrendous.
Imo, they chose the wrong games engine for this title, potential for improvement & added content is seriously restricted. FD would need to spend a similar budget as F1M22 to bring in the required fixes, the game needs redesigning from scratch but we already know that's not going to happen.
CEO needs removing from position.
Worst thing they did was take it off games console, someone should step down
Ripe for take over imo
Did they went out due to too many shorters? Or had enough of AIM behaviour?
Hmm, your digging does bring up some questionable behaviour. Have you thought about taking action yourself, or just posting about it? What is your position on FDEV? Would it be easier if you just posted under YH?
Berenberg reinitiates Frontier Developments with ’hold’ - price target 210 pence
Good advice, but I do suspect anyone waiting for the last Holdings RNS will be waiting a very long time. Invesco's own statutory filings show it has made major divestment of FDEV since the calamitious trading update of January, yet Frontier has issued none of the many expected Holdings RNSes on this. Frontier's NOMAD should be asking questions as a matter of utmost urgency.
It would have been a reason to celebrate, he was awful. However, reviews for new Warhammer sing a similar song to F1M, the problem is much deeper than just community managers, CEO is out of his depth imo.
Would not touch this until major restructuring, then maybe sit on it for a few years as a gamble.
Nobody touch this until last holding RNS...
Elite Dangerous Community Manager too.
It does seem logical. These are the two worst performing franchises.
F1 Manager Community Manager has been let go, what does that say for the future of that franchise?
Keep digging YH!
Working Capital Partners, Ltd. Overview
Fund Type: hedge Working Capital Partners, Ltd. is a hedge fund
Private Fund ID: 805-5352520038 Working Capital Partners, Ltd. has a private fund ID of 805-5352520038
Fund Manager: Working Capital Management (Crd# 285121)
Registered Location: Cayman Islands
Total Assets: $66.3 million
Minimum Investment: $100000
Private Funds Managed by Working Capital Management (2): High Street Partners Ltd , Working Capital Partners Ltd
Who is the buyer indeed.
Frontier's most recent TR-1 purchase notification identifies High Street Partners, Ltd and Working Capital Parners, Ltd. as aquiring 5% of the company - the largest acquisition since 2017.
Yet both entities are recorded at Companies House as having been dissolved prior to the purchase.
The interesting thing is that Swedbank have sold quite a few shares without pushing the SP down. So who is the buyer? Maybe we'll get a TR1 shortly?