The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
That may explain the drop in share price yesterday. Marshall Wace take out a new short position at 0.5%. Brave Souls. Some are putting money in and some are taking money out. That explains the shaking it all about with respect to the share price.
Well, they stand at 4.86 so far (from marketscreener) and they lended some shares out according the RNS. But FTSE and Sp500 are down today but our SP held up nicely!
Liontrust Asset Management acquire a 5% stake in Future. What do you think to that then? Out of the blue and into the black? The market seems to like it.
Mark Slater has nearly 11 million quid invested in this and only recently upped his stake again. Do you think a guy with this much experience would do that without good reason. Always a risk but one willing I am happy to sit on. Give it time as shorters wont be here much longer.
I remember the glory days here a few years back when this ONLY went north.
Sad to it’s fallen SO far:(
Shorters seem to be holding strong at the moment. I thought that they would be selling up to pay for their Christmas presents: https://www.burgessyachts.com/en/buy-a-yacht/yachts-for-sale/pelorus-00000967
Apologies to holders if my previous comments about the Go.compare website helped to push this down. Needless to say, the company has not taken action on these, so I will not be registering with them for the time being. Apart from that, I love the appearance of the website in general, so well done for that. However, please get a grip on my issues Jon. Happy Christmas to all at Future and to all holders here and look forward to fair sailing in the New Year. ♥ Love, Hank.
Bought in today at 689p. Debt is high but PE just looks too low for cash generated. Hope got a bargain.
Shorters keep fighting against gravity. They bet against Fidelity, Slater and Norges and FED now. Brave or desperate?
I think that is good news for Future, stimulating demand always a positive. Given where this is priced on about 5 times fwd earnings, I would say shorts are about to get crumpled here
Fidelity takes 5% stake, wonder who is selling, 10% of shares changed hands at institutional level..but reassuring to see the demand here at low prices
Imo at the first sight of recovery of their tradings or cut of interest rates people will rush to get in. This is still a cash cow, the valuation is out of touch with reality right now. A potential buyer should have a deep pocket to buy this company. What is the EBIDTA multiple in this sector 10-15x? Our EBIDTA is 250m+...
I hope you are right that this share is undervalued. I need the share back above 720 to breakeven. A good reverse today though and encouraging. I initially set a target of 850, but that is probably unrealistic but I live in hope.
I'll jump in here as been over on ADVFN mostly for Future. Investor here who bought in the 6's earlier in the year, convinced we would never see anything like it again. Proceeded to make a ton of money and was close to selling on the day we reached 10 quid...took off a minor amount and loss most of what I'd made.
This has been a very interesting opportunity...most incredible because the trading update in September which confirmed a good outturn saw such a hard rally...and then the actual numbers were actually ahead slightly vs. the guidance given in September. Cash generation was also much stronger...quite extraordinary...the business has lost almost half its value in 2 weeks off the back of good numbers.
I was very emotional on the drop...but am starting to see clearly again now. A lot is being made of the US organic growth driven by tech/gaming...not sure what anyone would expect here...we are in the middle of a very deep aggressive tech hardware cycle...plus the broader macro picture is weak. It just comes with the territory I'm afraid and might be a while before green shoots appear.
while the company has its issues...this is far too undervalued now. By my estimate, GoCo on an EBIT basis is throwing of MINIMUM £32mm...Moneysupermarket is trading on a 13/14x EV / EBITA...so right there you have effectively nearly half the total enterprise value. it simply cannot be that the rest of the business, chucking off as it does more than £200mm in operating profit, is worth max 3x EBIT. there are issues with the business, but opportunities as well. might take a while to recover but I think this is a rare opp.
The sector is very interesting from a value investor perspective...I was in S4 capital but decided this dip in a Future sp was a better play for my ad sector exposure on the basis again that cash is king in this environment...S4 is unproven in terms of converting to bottom line profit whereas Future plc has a proven and pretty robust core cash generating model...I was very surprised at the drop off as excluding the CFO departure news...there was nothing the market didn't already know in my view..it rallied hard on the trading update that conveyed the same results as the full year release, so yeah, it really did stand out as a buy. Interesting to see Shore Capital also mention it has takeover potential too..all in all there are worse places to park cash awaiting market recovery in 2024 and beyond
I totally agree Thunder, a company with a forecasted 230-240 EBIT should be worth north 13-14 per share easily. Not mentioning that the debt and the number of shares will decrease substantially. Crazy markets imo.
Also noted the following dated today:
"Stifel cuts Future price target to 1,550 (1,650) pence - 'buy'"
I notice that Qube have reduced their short position: I'd imagine they now face the issue of reducing their position without driving the price up too much. Or would they just hold their positions to keep their hands on the interest income? Any other thoughts about this: I've not followed anyone in this extreme situation before so will be interesting to see how things go.
The strongest point about this share is the very strong cash profit...all advertising and media stocks have been hit hard but not many with free cashflow as strong as here, I think if they can stabilise the revenue decline in US it's on a string enough footing to warrant a buy at this level, the P/E ratio is low and I am still working out if that is temporary or a sign of things to come but I feel this is one of the better opportunities in a strange market at the moment -100% upside possible
Indeed. Two RNSs on the subject today. Key for me is the one stating that Slater Investments now own 5.15%. No idea if all 5.15% is a recent purchase or if they had some shares (below 3%) before. Either way, a good sign, and I'm in (again).
A lot of dosh flying about - by institutions and punters....
( >Д<;)
No much explanation was given regarding the loss of revenue in the US, apart from the "challenging environment", which says pretty much nothing.
Not much was so said about why they need to invest 30 millions in their GAS program. What has changed to require such a capital investment?
The growth strategy relies a lot on M&A, which is okay but suboptimal.
Lots of questions unanswered and a degree of uncertainty. I expect more weakness of the share price till the next trading update.
A fifth of the business was lost in the US. Not much to understand for the layman.
"US revenue declined by (19)% on an organic basis with softness in Media revenue as a result of greater concentration in the consumer technology verticals as well being less advanced on the execution of the strategy in comparison to the UK business."
What caused the drop in revenue in the US?
"US revenue declined by (19)% on an organic basis with softness in Media revenue as a result of greater concentration in the consumer technology verticals as well being less advanced on the execution of the strategy in comparison to the UK business."
What does this mean to the layman? That's a loss of a fifth of the US business. That's quite savage
Will be very surprised not to see a few large purchases from the directors at these levels. We will see how confidence is at the senior levels? gla
I'm impressed with the management team on this webcast. Jon Steinberg seems to have his $h1t together, and the investment in new sales heads in the US should impact forward revenues. Their investment in social strategies seems like the right thing to be doing as well. Seems well thought out strategy. I'm invested, so maybe I just have happy ears...