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https://www.fool.co.uk/investing/2021/04/18/uk-shares-to-buy-now-how-id-invest-1k-today/
I’m starting to build a small position here where possible. This is no longer an estate agency business but a financial services business with an estate agents. They’ve recently made considerable investments into direct life and pension services and owning 100% of the assets of mortgage gym. MAB1 which currently has a P/E ratio of 51 (677m market cap)with approx 1600 advisers. LSL trading on 11 times earnings (330M Market Cap) with approx 2600 advisers. Ignoring all of the estate agency business, surveyors, new build, and Asset management sides of the business either LSL is fundamentally undervalued or MAB1 is substantially over valued. Interested to see what others views are.
Private equity will be looking for a home to take on Connells but maybe LSL is already punching up towards the top of its weight but shouldn't be discounted
Certainly a lot of jostling to take place
is this a takeover target? Seems EA is flavour of the day.Who else is there of size that could be ripe for takeover-what about private firms floating.Interesting sector for sure.
Very satisfactory update .£90m revolving credit facility kicked through to 2024 should see them safely navigate any headwinds
With a huge swathe of CWD money potentially being released into the sector by the Connells takeover of CWD looking for a home,TPFG swallowing Hunters and speculation surrounding Foxtons - Who's next?
Marsh & Parsons certainly give Foxtons a run for their money in the same patch .Both companies C. London offices barely covering costs but all dressed up and ready to go for any increase in activity.
With forecasts of 5-7% falls in prices in the centre might precipitate a burst of activity
Steady as she goes
Are you in this Troj? Just bought back in (had from around 210 to 265 end of last year)
Not legally but it's become the norm. I've not seen a company pay a dividend without repaying it in full.
do they have to pay he Cjrs back??
Sold out for 37% profit this morning. VAT payments will go against cash balance next year and they will probably repay the CJRS money. How much are the covid related costs they haven't included? SDLT extension might happen and be a tailwind and wouldn't be surprised to see a bid but risk/reward now looks balanced.
Very satisfactory update as we had into a few difficult months Cash position looks sweet
I wonder if they might be a late entrant in the race for CWD LOL
Interesting to see Brandes have been a net seller taking advantage of the SP increase during the last few months to jettison a few
Brandes heavily invested in Countrywide buying in at a more frothy time and reduced over the last 2 years incurring a heavy loss on their investment .They still hold 8.77% of Countrywide and have not declared their position with Connells
So what their intentions are is anyone's guess
If the Connells deal goes ahead that means a huge swathe of money coming back into the system looking for a home ,a good proportion of which should imagine heading for the listed estate agents sector
I wonder where it's going to go ?
Although market sentiment is on the wane .
https://propertyindustryeye.com/house-prices-set-to-fall-sharply-in-q1-2021/
https://propertyindustryeye.com/has-uk-housing-market-run-out-of-steam-momentum-slows-according-to-rics/
The bid for Countrywide was increased this morning. Seems to have given LSL another push.
Yeah I sold between about 255 and 267 - can see it going higher (possibly much) but 25%-30% in a few weeks suited me and have other places to put it. Well done on the patience before it got moving!
With Brexit coming to a head I decided to bank half my gains. I'd expect a deal to be beneficial to the shares. There is always the outside possibility that the clarity of no deal could be seen as a positive by the markets in general.
More M&A https://news.sky.com/story/estate-agency-deal-frenzy-grows-with-bid-approach-for-hunters-12150364
Hopefully give us another boost tomorrow.
such a strange one too, seems to only move in increments of several %
Thanks. Good day yesterday, well in the money :)
good call from you anyway
Might there be news on stamp duty in today's spending review? Shaes up 6% this morning and US institutions have been buying
fair, bought some
CWD gets a potential takeover offer at a 72% premium and LSL shares are trading down. You couldn't make it up!
Remember their profitability is not all down to sales in the estate agents. Financial services and their survey department is becoming more of an important income stream. Compare the mcap of lsl to MAB1 and this looks really undervalued (or mab1 is overvalued depending on your point of view) .