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Interesting profit boost (and Equity/NAV), although with recent challenges most businesses are faced - it might not hold over the longer term.
Yesterday at this time 8.45am 3i had plummeted £0.84 to £10.73 and recouped most of its losses to close down £0.16. A day later it’s up £0.37 at £11.76. These price movements are nothing to do with the underlying value of the business. Short sellers are hoping long term holders will capitulate. GLA.
Sold 3i infrastructure and added to 3i group which looks a good bet for the mid to long term growth.
..
Directors starting to buy significantly once again after a long barren spell.
Growing, growing, growing and then gone in an IPO..
part of the 3i stake only initially would think.
How much is Action going to be worth to 3i come IPO time...?
Action's market value was c. £11bn of which iii stake was worth c. £5.5bn at 30 June. Hopefully up a bit since then if trading has been in line with expectations. K
So if I'm looking at this correctly, 3i value
a circa 50% stake in Action at circa £5 billion??
Can anyone confirm if that is correct? - thanks.
It looks a steep valuation ?.
It was difficult very lately, from the usual outlets, to find information when this update was to happen. Convenient that they posted an update a day after Bridgepoint floated with the shares rising, in part, on the back of this succesful debut. Then rising again today on the strong update. Smart management or just a coincidence?
If you believe 3i's presentation from a few years ago then Action could well be achieving €10bn in sales well before long. Those amounts allow you to just keep growing.
action is going at at least double in size over the next few years. all things being equal this should take the 3i shares up towards 15-16 quid at a minimum. one of the best shares you can hold. add on weakness.
Once again there is a portfolio update. All seems well and the shares are in demand. Mr Market likes the numbers, too.
For a large cap with exposure to consumer goods, 3i is enjoying a great recovery run. Surprised there hasn't been more interest on LSE.
if price can hold above this 200 day moving average into the close, it's a positive signal for the next few trading days - often crossing this average to the upside induces buying.
Positive commentary in Shares Magazine (subscription) today in their occasional "Under the Bonnet" feature. Quotes include "Often overlooked by investors seeking growth opportunities, there’s a lot to like about this FTSE 100 member" and "This is a solid ‘buy’ for anyone who is patient and happy to tuck their money away for a long time."
They have been stuck in the low 8's for getting on for a month now. The latest results helped the share price just before that by the dividend being maintained.
A few ugly industries are in the portfolio at present, automotive, travel, gyms and airport support services. So this is a slow burner for the time being unless there is a near term significant take out premium offered to take Action out of the portfolio.
I keep looking to buy 3I but wonder why the shares have not bounced back like so many others have?
I cannot find any negative news ...
Am i missing something?
Anybody any thoughts why both are scheduled to report their Q3 results on the same day (30th January 2020, according to both websites)? Never occurred before. Interesting though.
NC
''if there can be much more left to come?''
They manage billions of pounds of investments in many companies and sectors in Europe UK and the US, so your question is an impossible one to answer.
Just a question of whether you believe that 3i can continue to seek out good new investments and capitalise on past ones.
NC
I have mentioned before that after buying at 188p I unfortunately sold half at 321p and half the remaining at 613p and so retaining just 25% of my original purchase.
I will be keep these permanently .
When you are PE and you own fifty per cent of one of your biggest investments (Action) which makes up thirty six percent of your entire portfolio then investors may think twice. But they shouldn't.
It's not surprising 3i stayed in and increased there investment in Action. It would have been relatively flagged up their intention to do so prior to the announcement and a four per cent share price drop that day means nothing in context. Another PE house taking a $1 billion stake supports the increased investment and raises awareness.
In the US two similar businesses compete in a similar space (lower end value propositions) and between them, Dollar Tree (under pressure today) and Dollar General with a combined value of $62 billion. They have 30,000 stores between them serving 325 million people.
Action has c.1,500 stores in a small number of targeted European countries. The entire population of Europe comes in at around 750 million. Is there room for further growth? Is a $11 billion valuation on the conservative side? Can they expand in to other areas of business in due course? You decide.
The share price nudging towards £10 presented an opportunity given the premium had dropped to fourteen percent but it has taken off again. Clearly, unexpected events come in to play and companies with a high valuation (is it high?) don't half hit the fan when it all turns.
Wouldn't be surprised if this goes down tomorrow, joke network!
Anybody any thoughts why this is regularly trading higher against an ever strenthening £? The reverse has nearly always been true.
£10 by the end of the month :)
Dollar Tree...
Just a matter of staying above & away it goes