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Good to see some significant director buying today.
Again, buys far outweigh sells.
MMH has flown, Pendragon has stirred.
But Lookers always was by far the cheapest of the 3.
Nice to see some director buying today albeit not massive money (for them at least). Also todays SMMT figures for November showed more profitable private retail regs up 42% on prior year in the month which again should be a positive read through for Lookers…
Clearly not or the price would not be falling. Someone is selling into retail buying.
Buys constantly and vastly outweigh Sells at the moment.
PDG close within a whisker of its 52 week high. LOOK 25% off theirs.
Really I had hoped with Phil White gone things would have picked up but still sleepy valley.
We need to see a statement form he company on outlook and shareholder returns before the end of January
Market cap is going to be c. 60% of net assets. And net assets are freehold and a huge pile of cash.
I think this is easily the cheapest share on the market
Despite their previous antics Lookers current valuation is bonkers.
50m profit in H1 with 33m of next cash. PDG H1 35m with 9m net cash. PDG this morning say they will have better numbers in H2 than H1.
Let's assume Look cant replicate that and only get to 80m FY. This mornings market cap for Look is 224m and PDG is 275m. 60m discount t PDG despite having 25m more cash at the end of H1 and presumably a lot more at the end of the year.
Nuts
Car dealership Pendragon now expects 2021 underlying pretax profit to be GBP80.0 million, up from October's guidance of GBP70.0 million. This, in turn, had been raised from a prior guidance range of GBP55.0 million to GBP60.0 million.
Another profit upgrade from PDG this morning - wouldn’t be surprised to see the same from Lookers soon.
I would have sold them mine!
Easier to buy control at MMH plc - family owns 64% of the shares. Other plcs much more fragmented ownership
One way or another, this activity should start and shake the sector up for the better. There is a lot of consolidation still needed for the future to make this industry right to tie in with OEM moves, and direct selling on line.
Interesting that Constellation have targeted Marshall’s rather than Lookers despite the valuation gap being far bigger at Lookers. Maybe they know something we don’t.
Having said that I still think Look will be taken out. Massive consolidation coming to the sector. Wouldn’t be surprised to see Chesterman react by bidding for another listed retailer.
Marshall Motor Holdings PLC - Cambridge-based automotive retailer - Confirms that Marshall of Cambridge Holdings Ltd, which holds a 64% interest in Marshall Motor, is considering a possible sale of its entire stake in the company following a strategic review of Marshall of Cambridge's business interests.
Marshall Motor has taken no action to contact any potential suitors, but it has received a request from Constellation Automotive Group - the owner of BCA Marketplace - to take part should a sale process be initiated.
Marshall Motor said that there is no certainty that any formal offer for the company will be made.
Fool is the correct moniker. HTF does he know what the yield will be for next year. This type of trash should be outlawed by the FCA.
https://www.fool.co.uk/2021/11/23/2-dirt-cheap-uk-dividend-stocks-to-buy-for-2022/
This is going to take some patience - which is frustrating - and I agree that VTU is better managed. Nonetheless, on a 5 to 6 month view, the current share price is surely a bargain. 10% cheaper than the price when they announced a profit upgrade 7 weeks ago; trading on a circa 30% discount to the value of the property portfolio; cash generative and with cash in the bank; on a current year P/E of less than 4. IMO sub 60p is a great entry point.
Its chicken and egg. Low volume as no one is interested in a retailer that doesn't return cash to its shareholders. A dynamic BoD/CEO would take advantage of the SP now and create a virtuous circle. Instead we have csh piling up waiting until a date in the diary passes? Doesn't sound very entrepreneurial to me. Oh wait....
They are very range-bound on low volumes. The BoD are sitting on a cash pile with a pipeline of new car sales with guaranteed revenue stretching for a year. I think that a breakout depends on the resumption of a decent dividend. Hopefully an announcement early in January when they know what they earned in 2021 and estimates for 2022 earnings firm up.
Buying fivers for a pound is a remarkably accurate analogy, redwineday.
Its about time the BoD did something. Buy back at these prices is buying fivers for a pound.
VTU is a demonstrably a better managed company . No thieving, no accounting scandal, CEO with big stake on the business, Dividends, share buy backs and expanding the business at the same time. The market is right and its no joke....Lookers BOD were asleep at the wheel.
I smell a rat with the information of second hand car valuations based on my experience. I have seen valuations from We Buy Any Car go from £13750 earlier in the year to a peak of £15500 around August and now a price of £13850. Does appear to be quite a correction in the market, unless WBAC are just trying it on?