Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Game Digital (LON:GMD)‘s stock had its “buy” rating reaffirmed by investment analysts at Liberum Capital in a research note issued on Tuesday. They currently have a GBX 65 ($0.91) price objective on the stock. Liberum Capital’s price target points to a potential upside of 98.17% from the company’s current price.
Latest investment from Church House investment, the deep value specialist which looks at buying stocks trading at a discount to NAV. Game currently trading at a discount to cash, giving pretty much nil value to the rest of the business.
http://www.ch-investments.co.uk/our-funds/deep-value-investment-fund
Industry is a mess - Grainger Games gone, Gameseek, Gone, and Games Centre in Scotland. Very quiet for this time of year and has been for most of this year, apart from Feb. Prices on the site are all high, not doing sell offs like anyone else. If you are in, time to move on. Going to happen very soon.
Has any one got new shared replaced for GAME shares which when into administration?
Is this the same old GAME share company?
GMD is gonna go pop next week, 50 day moving average just broke the 200 day moving average shame im not in it, all my eggs are over in val...
No worries rugs Miton wouldn't worry about today's fall, free float is still pretty small and it goes up and down with big swings all the time. I suspect we have an overhang of someone wanting to get rid of shares so will be under short term pressure. Hopefully you're patient and not i it to trade short term. It will take a couple of years to watch the Belong story unfold. The sellers were out from 8am this morning which is why its falling today.
Thanks for yours ragnor. Much appreciated. I have followed Mitons purchases over the past few years buying those that interested me.On the whole have done pretty well although DKL looking a bit down in the dumps at the moment. Have no idea what has caused todays fall.
Haha yes isn't that the way? You will need patience with this one rugs, twice it fell well below NAV but both times swiftly bounced back again. Its ranged between 20 and 60p over the last year, that is some volatility. Getting rid of Elliot isn't a bad thing for the share price, they didn't seem to add anything, especially with a few decent fund managers replacing them. You would have to assume they did some due diligence and liked what they saw which is positive. Institutional demand is rarely negative. I'm surprised Elliot weren't more active given they are activist investors but they have bigger fish to fry with Whitbread, Mcro etc I guess. But not sure where all Elliot's shares went. Miton took 13.1%, Cannacord 11.8, and Hambro 5.1. That makes 30%. Yet Elliot sold 37%. Who has the remaining 7%? That could influence the ST direction of the share price. Miton and Hambro will be around for a few years but Canaccord have flogged the shares to their clients so who knows what they will do with them... Keep on eye on volumes for an indicator, today was pretty measly
As I bought in doubtless the price will go down....rgds
What do you think that will do to the share price in the short/medium term?
Miton, Canaccord, Hambro and, on a much much smaller scale ,me.....
That explains it. Eliot is gone. I wonder who picked up the shares...We will soon find out.
Have a look at the chart. The only other time there was a spike in volume like that was when SD bought a stake from Invesco and Woodford, when Mr Patient Capital managed to get out right at the very bottom
nothing unusual about this mate , maybe the seller is gone and now is the time get the true value of GMD.
62m shares sold today, out of 170m issued - only 1 shareholder has that many shares. Eliot must have just shifted between funds?
I would prefer a lot of people over Mike Ashley but SD has deep pockets and beggars cant be choosers. I can't see anything so far that would suggest he is a hugely successful investor, Goals Soccer, Debenhams, although he bought Game at the bottom
Yes agree. Management need to continue with reshaping the business and speed is the essence. Mike Ashley is not one to waste money...although he did get a good deal out of the Belong partnership!
Yeah totally agree facester. It's a patient gamble on management's ability to execute Belong. The market scepticism is reflected in the SP discount discount to net tangible asset value, and the ,measly �3.2m they received for 50% of Belong. But maybe they decided they really needed the SD strategic alliance for further funding, floor space, cuddles etc Like most I'm bearish on the retail side (to be polite), but that business at least seems to be cash neutral. So I'm holding a few shares because I see it as a cheap option on Belong. They have funding and early signs are encouraging. Its a large and growing market and they seem to have first mover advantage. But they need to get their act together or Amazon will find a way to muscle in. So maybe, just maybe, in 3 years time they WILL have 100 Belong arenas up and running, generating �70m in revenue, with Game taking a 23% operating share.
You seemed bullish not bearish on your last but one posting? Not disagreeing with your view...just confused. I think it is an each way bet....emphasis on the last word!
Loads of leases are about to expire, I don't think it would take that much to shut this business down. Talking about cash I just read in their presentation that they have facilities over the peak season of �169m, plus �85m in cash. I know these guys got burned once running out of cash, and they are keen to demonstrate to suppliers and credit insurers that they can meet their obligations, but that seems excessive? http://www.gamedigitalplc.com/~/media/Files/G/Game-Corp-V2/documents/results-reports-presentations/2018/2017-18-interim-results-presentation.pdf
Maybe MA is chasing all that cash tied up in the business and forget about the rest
Not many shares around facester. 62% between Elliot and SD. It moves like a rocket both ways. At these levels I would say its risk is limited when its cash alone is worth 50p+ per share. You are buying at the lows here. It was 60p not long ago and not much has changed about the market since then, if anything its improved slightly
Revenue higher but WAFER thin EBITDA margins as guided of 4%, little margin for error. Cash generation was strong adding to the growing pile again. The start to the second half is promising but the second half is always weak and will probably write off the H1 profit and then some. PBT loss of �27m in H2 last year. Full year break-even at PBT level would be an outstanding result. Too soon to see where Belong will go but as always the business is substantially de-risked by the cash and facility. Here is Edison's update, they are bullish on the longer term but its hard to see why when you look at the 2020 forecast http://www.edisoninvestmentresearch.com/research/report/game-digital657470/preview/
with momentum gaining