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Anyone seen the rns today re the Coltrane asset managers holding ?
They are a hedge fund based in NYC that have caused issues with other companies in the past, run by an ex trader from Deutsche Bank.
Oddly the share price is virtually unchanged.
barchid, just seen after my post. I think as a hedge fund, they are shorting..Not good news if correct.
Do wonder what is coming with the presentation? Is there a leaky ship?
"are they shorting"?
The announcement indicates a holding of 3.73% which indicates they have recently upped their holding to above a notifiable level . Hedge funds do not just go short on shares
GreyMonk
Sorry I thought I made it clear in my post that they were a purchase by Coltrane because I described it as a "holding".
Coltrane most certainly do have many long holdings, C(r)apita has been one & they were one of the shorters of Carrillion on the other side of the coin.
The point I was trying to make is that they are no mugs & they clearly have a reason to buy in.
Interesting to see if they take it over 5% (or indeed if any other nominees in similar tax havens as thr Cayman's show holdings as well).
Barchid, when you mentioned Carillion, who I seem to remember had it's HQ in Wolverhampton. Mere co-incidence! However I had to smile when seeing the defunct company's name. At the time I consistently warned PI's it was going down the plug-hole. The abuse I received was incredible. The rest is history. At least one opponent had the decency to apologise when the Company went under.
No PI should think the same will occur here, we are a long way from Carey Street.
Coltrane had zero holding until the latest statement, unless the RNS is incorrect.
FD/Trent
Yes we do seem to still be suffering from the highly questionable leadership of RF and it is nice to see the SP is now above yesterdays close, if only by a whisker.
Coltrane has certainly thrown curve ball into the mix though.
apologies but my response was to the post asking if they were shorting
Well as I posted on Wednesday it would be interesting to see if any other nominees pop up as holders, lo& behold there is a Fort Lauderde office of a NYC company in todays rns as holders of 5.07%, Clearbridge who claim 190billion $ under management. I think they have something to do with Franklin Templeton who are tax haven based in Cayman & Bahamas with a large office in Fort Lauderdale.
Who will be the next to declare I wonder ?
Perhaps the SP might finally start to rise ?
Yanks think uk economy is basket case ; it seems more likely that they will loan out the shares in short strategy.
Sorry but I'm not sure I understand you, are you saying that they will buy shares to lend to a short seller so that the value of the share they own will go down & they then lose money ?
How was the Pedigree this afternoon, any good ?
That would appear a strange scenario. Maybe they have money to burn or know some convoluted mechanism best known to the Americans.
I have seen US Investors loading up heavily on UK stocks and then pulling the plug, creating big drops in Sp's. Stranger things do seem to happen in Markets these days.
Where has sound money gone??
Not that strange. A technique to hold price in a given range while nominees are building below declaration threshold stakes.
All has to unwind at sometime and it is definitely not market manipulation.
Lending shares generates an income while the shares are on loan. Widely acknowledged practice. If they’ve gone long they’re off to a bad start; -6% already.
lots of O buy trades today in good numbers. More than twice as many buys as sells. @900000 to 4000000 at 15:25
Amir
Of course lending out shares creates an income for the lender, but the fee for an easy borrow such as Marstons is would be exceedingly cheap, worthwhile if you are a bona fide holder but surely not worth buying for cash & then receiving a miniscule fee for the trouble of doing that. Furthermore there is no indication of there being any sizeable shorting of MARS, either by the FT which is usually good for this nor from short tracker web site.
As the FT shows that less than 29% of Mars is held by holders of a significant amount (1.8% & up) I respectfully suggest that with so many smaller shareholders sitting with a stock which has gone from being a high yielder to a zero dividend paying stock over covid period that the buyers have probably had no difficulty in accumulating their positions just by sitting in the market with a bid price, mopping it up from small sellers.
Volume Change (%)
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