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Keep waiing for another dip, but hasn't really been one, so have bought in today.
Still keeps on quietly rising. More Monday I’d think
These still in play….
flying now
shorts befuddled
https://reporter.am/2022/10/24/gb-group-plc-longbg-receives-gbx-945-consensus-pt-from-analysts.html
Thanks APD708. Thing is though, all this was known before the Trading Update, yet this share price dropped after. Therefore what was in that Update that spooked the markets? Damned if I can find anything...
Re the debt repayments: they don't break it down by quarter but simply said in the update that "repayments of $45 million have now been made" against the $210m Acuant purchase debt. I think they bought Acuant around a year ago - at least judging by the successful placing of shares at 725p per share to part fund the deal on 19/11/21.
Thanks, yes I will try to look on the bright side and was rather hoping for another bid... but who knows, they rejected one recently....
Hi unhooked, is the debt on fixed rate/term? How much debt are they paying every quarter?
Reasons for the share price action may be following:
- Market knows the inflation will remain high for the next couple of years pushing up the interest rate which will increase the interests on the debt payment?
- reduced revenue and profits due to supressed macro environment over the next couple of years
- present market sentiment
Look on the bright side for you, another take over bid if it comes will send the SP higher...
Flummoxed by the share price reaction.
The Acuant acquisition risk, the debt denominated in dollars (despite their revenue also being denominated in dollars) - all of it was known before the Half Year Trading Update. The update simply informed of growing revenue, profit picture improving, debt getting paid down.... and the share price tanks 25% over the next 3 days. What the heck am I missing?
the debt's a red herring...insignificant, and daft to hedge given natural hedge from op profits
EV of barely bover US$1bn puts this on low rev multiples...or EBITA
looking to buy seriously somewhere around here...but may get sub £3
Fwiw, Edison Research's view:
https://www.edisongroup.com/publication/fy23-outlook-maintained/D5052/
The_Observer "GTCR first announced it was considering a possible cash offer for the Company on 6 September 2022, in response to media speculation. The GBG Board had early-stage discussions with GTCR in respect of a possible offer for the Company, but agreement could not be reached on terms."
I read that to mean that the GBG board would not recommend the level of offer from GTCR to shareholders. Pretty certain it would have been way north of current levels!
Absolutely spot on. GBG got a new CEO about 3 years ago and he has wrecklessly bought Acuant and having no hedge on the debt is plain stupid. GBG won’t be considered as investible until he goes,
We know for sure that GBG have overpaid for Acuant. Had they waited a longer would have most likely got them around 50% less. To rub salt in those wounds, the loan to buy is in dollars and there is obviously no hedge. If a US company were to buy GBG, not as cheap as looks because of the $165m loan outstanding. Fortunately they have US$ income but market confidence in the GBG board must be low.
What do you mean? No offer was made.
Another example of should have taken the money!
Wow, make that down 20% - 345p to sell - ridiculous!
I've put my money where my mouth is: topped up at 367p.
Can't see anything wrong with it but, I suppose predictably, the share price drops 10%.
Cyclical value, secular growth, investing-wise nothing works atm.
Nobody wants to buy this company any more? It's cheaper now!
Drawn to this thread by Mezza who like myself took a hit on LAM .
They are indeed good posts from Checkmate
Thanks to both of you .
"I do appreciate your very in depth reply to my question on GBG."
I notice that another successful cyber security company, that also boasts offices in the states, & have purchased a company that will enable them to grow their profits more - 'Intercede' - IGP has seen a lot of trades this morning & the company is posting regular updates too. Viewing their graph it's a company on the recovery now. They have grown their cash reserves too. Post in November. Been 30% up today in price. Under 50p is still good.
It's a mad old market, but at least it keeps giving good opportunities and I've taken advantage of today's price weakness to get my position up to a more meaningful level.
I keep selling non-UK to buy more UK and I'm now maxed out on Blighty, so I hope to God that "things can only get better"!
Am surprised the "yanks" passed up a bargain. Pleased they have and would be adding to my holding if i had any money to spare. Good luck Shanny80
Disappointing with regards to the current share price but it gave me the opportunity to buy some more. Time will tell if that was a good decision or not.
Alasdair Young, an analyst with broker Panmure Gordon, said GB Group is now an attractive Buy stock: “With the shares now only seven per cent higher than they were before press speculation about the bid emerged, we see this as an attractive entry point for one of the UK’s best software assets.
“Moreover, we highlight that in the absence of a sale, current holders will benefit from the anticipated acceleration/expansion of growth and margins as Acuant becomes fully integrated and the revenue base becomes increasingly US-weighted.”
You did well there Sustain, I hovered over £5.38 at that time!
Wall Street opening later on might effect ?