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Good to see Harwood Capital buying more and increasing to over 13% with a total of 6.04m shares: Https://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/holding-s--in-company/201804040806567597J/ Their last holdings RNS was in December, when they held 5.125m, so they've bought more than 900,000 shares since then.
The company appears to be on a recruitment drive, suggesting business conditions are favourable. The following jobs have been advertised in he last two weeks: Facilities and admin team leader Building manager Property managers (different grades) Receptionist
Seems to have picked up nicely here. Still think this is undervalued based on EPS and with regulations tightening, these guys should see more business coming their way.
HMLH may be dull as dishwater, but it's surely doing better than this! It made 1.9p EPS in H1 alone and only 13 days ago said: "We are pleased to report a 25% growth in revenue for the period and the on-going successful integration of our recent acquisitions. While we have incurred additional one-off costs during the reorganisation of the offices associated with acquisitions and have made further investment in building capacity for further growth, we are also pleased to report both a 10% growth in half-year earnings before interest, amortisation, share based payment charges and taxation and substantial growth in our new business pipeline." Boredom and low liquidity is winning out methinks. I've just bought a small amount more with spare funds and may add again if these levels pertain.
The H1 results are pretty underwhelming. I do consider that HMLH are substantially undervalued - and have good upside potential. But once again there's no catalyst for a re-rating, and once again integration and other investment/costs are the apparent reason for the masking of decent revenue and operating profit growth. However....a glimmer of hope from today's Finncap update. They retain their Buy and 45p target. And they have upgraded their revenue forecast for the year by 6% to �25.5m, whilst conservatively leaving their EBITDA and PBT forecasts unchanged at �2.6m and �2.2m. In particular, the "record pipeline of 17,000 units, compared with 8,000 the previous year, is very encouraging". Given forecast 4.1p EPS for this year - with a 0.4p dividend - HMLH remains cheap imo, especially with pretty high revenue visibility. A 45p-50p share price is justifiable, but how long it will take to get there is another matter.
Someone is quietly accumulating here...
RNS - City Asset Management have bought another 406,000 shares and are now above 4% with 1.875m shares.... Http://uk.advfn.com/stock-market/london/hml-holdings-HMLH/share-news/HML-Holdings-PLC-Holdings-in-Company/75558668
Yesterday's RNS shows the CFO transferring £24,000 of shares into his SIPP. Logically one can infer this means he believes the share price will increase and he wants to protect any gains. Let's hope so. Especially as the AGM statement is coming up soon on 19th September. Only a month away now.
I note Finncap have 4.3p EPS pencilled in for this year (with a 0.4p dividend). With a following wind and decent performance by the acquisitions we could see a 55p share price at some point if that forecast is met or slightly bettered.
3.9p EPS is actually a tad ahead of expectations (which were 3.8p)! With a 0.37p dividend too. The big acquisitions will benefit this year, which will hopefully be extremely exciting by HML's standards :o))
Moving up again - I wonder if there's a little interest coming in due to the prior post re Grenfell House below and to the health and safety/fire inspection building services HMLH provide: Http://www.thehmlgroup.co.uk/our-services/health-safety/
Good to see a keen 24k buy at 42p this morning - that's 2p above this morning's 40p offer price. Interesting comment on the HMLH web site regarding the appalling Grenfell House fire, which reinforces the need for professional and properly organised property managers: Http://www.thehmlgroup.co.uk/fire-safety/ "Fire Safety The dreadful events at Grenfell Tower on the 14th June remind us all how critically important it is that we as property managers fulfil our duties in advising our clients on the fire risks inherent in blocks of flats. As the circumstances that gave rise to this tragic event are revealed in the coming weeks and months, we anticipate they will reflect mostly on the safety design and fabric of the building. There is however so much that can be done procedurally and organisationally to reduce fire risks. HML as professional managing agents will re-double our efforts to ensure that fire risk is professionally assessed and mitigated wherever possible. Our thoughts and prayers are with the victims and their friends and families who have so unfairly been affected by this tragedy."
Finncap retain their Buy and 48p price target. I suspect this may be increased after the results are out: "HML Holdings* (CORP) Positive trading update Ticker: HMLH Market Cap: £18.3m Price: 40.5p Target Price: 48.0p The group has issued a positive trading update for the year to March 2017 confirming earnings in line with market expectations. The group has a very high visibility to revenue and a predictable cash flow profile. We believe its strategic mix of organic and acquisitive expansion is capable of sustaining double-digit unit annual growth in a large and fragmented market. We retain our 48p target price, implying potential share price upside of 19%."
Pleased to see the trading in line with historic 3.8p EPS forecasts. HMLH now enter a year with forecast 4.3p EPS - with more acquisitions likely - which makes a 40.5p share price pretty cheap imo. I did a double-take when I saw the word "exciting" as regards prospects for 2018 :o)) Hopefully this signals HMLH is finally entering a step-change in prospects after the 3 recent acquisitions.
City Asset Management have been buying more and now have well over 3% with 1.47m shares. Good news: Http://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/holding-s--in-company/201704211618540389D/
A 100,000 share institutional (OK trade) buy at 42p was only shown late in the day........
A tick up on a 5k buy. We should get a year end trading update in the next 3-4 weeks hopefully confirming a minimum of 3.8p EPS (with 4.3p EPS forecast this year).
RNS late last night - City Asset Management have gone above 3%, with 1.36m shares, having bought another 124,000 shares. Good to see another institution on board. Here's their web site: Http://www.city-asset.co.uk/ "What We Invest In As our investment approach is flexible, it gives us the freedom to use a range of different asset classes and investment strategies throughout the economic cycle. We specialise in finding the best fund managers across a range of different asset classes and sectors. Our dedicated investment management team create a diversified portfolio which will aim to generate the best risk adjusted return for your portfolio. Our in-house research team assess all investments prior to purchase. Investments are usually, but are not confined to, collective investment vehicles, both on and offshore."
Finncap have today raised their price target to 48p, and their forecast for this year starting on Saturday to 4.3p EPS. Finncap themselves say their forecasts are conservative. 48p represents 20% upside from here, which is fine by me for the moment. It's good to have some slow and steady stocks in the portfolio - though the volatility is such that if HMLH ever gets any press/tip attention then it usually moves up 2p-3p at a time. At the current 40p HMLH looks like pretty good value to me. It's also possible that with 2.1p EPS in the bag from H1, this year's forecasts of 3.8p EPS may also be beaten.
It's a biggie as predicted, with £2.3m paid for £0.4m PBT and immediately earnings-enhancing. London-based too - looks a good one to me: Http://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/acquisition/201703290700248186A/ I imagine forecasts will have to be increased now.
Another acquisition today - this time for £1m in cash. Earnings-enhancing once integrated, and still more acquisition news likely soon if the third of the three mooted acquisitions comes through: Http://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/acquisition/201703020700082857Y/
Finncap today point out that this is just the first of three potential acquisitions referred to in the December statement. Their forecasts are unchanged at 3.8p EPS for the year ending next month, and 4p EPS for the coming year, with 0.4p dividends in each year.
Good to see another earnings-enhancing acquisition today - small, but they all count in bulking up the business and there are likely to be decent synergies in terms of admin cost-cutting: Http://www.investegate.co.uk/hml-holdings-plc--hmlh-/rns/acquisition/201702020700088052V/
Five small buy trades today have widened the published spread to a ridiculous 5p. But online you can sell at least 30,000 at a premium at 39p, whilst you can only buy a maximum 3k at 43p, so I think any buying would cause a further decent move upwards.
why I was getting HMLH alerts on my OIG investment - bought in because of Nexus interest, but HMLH looks like another winner...on we go. GL holders, spectators.