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Whoops I was looking at one of the other transactions
How do we know that ones a buy?
Q4 and year end results are just round the corner. Last year the SP jumped 24% on news. With all the new acquisitions now settled in and all the latest contract wins, I’m hoping for a rocket launch at this bargain price :)
Makes you wonder if the SP was taken down to fill that order as part of a negotiated buy…
Perhaps they’re waiting to release a bumper quarterly announcement and as you’ve noted, fireworks shall fill the skies :)
Agree. Expecting fireworks. The longer this bases the harder it goes up (or down).
I know, it’s frustrating as 260 sites for total FM must be worth hundreds of £millions. It’s like the SP is being deliberately held down IMO. Makes me think even bigger news is in the pipeline. Someone is obviously loading as every night big UT’s go through in the hundreds of thousands and even millions.
Why don't the RNS these wins
On a roll with another amazing win, delivering total FM services for over 260 sites throughout the UK to National Grid!
https://www.fmj.co.uk/mitie-scoops-two-multi-million-pound-fm-deals-with-national-grid/
Another contract renewal, this time a 3 year extension with Eurostar:
https://www.fmj.co.uk/mitie-renews-security-contract-with-eurostar/
Their accounts were given the okay following the inspection a few years ago but I guess there was some negative sentiment and it was a tough sector at the time, glad to see both the former CEO and current CEO are well regarded.
The share price was £3 a pop when Phil Bentley took over as CEO.
The share price tanked after a detailed inspection of the accounts that Phil inherited from Baroness Ruby McGregor-Smith.
Phil has substantial skin in the game which he will not get back unless the SP gets back to £3.
Rights issue a few years ago.
I have held shares since 2012 and remember when they were £3+, but when I look at historic charts over the same period I see a high of around £1.60, am I missing something?
It seems they have not been able to buy back much shares over the last few days as the price is 5% higher than previous 5 days average. So, any pull back should allow the buyback to restart and support the price.
Good strong Q1 update & with £43.7m of the "initial" share buyback still to be undertaken we should see a nice steady rise in the sp going forward.
BC
Consecutive daily rises at last..hopefully can close in on the £1.00 mark..can’t believe that the SP dropped so low given the fundamentals are sound..Averaging 58p per share so smiling today!
Bought half my holding back after 12% drop not to be sniffed at.
Share price never hit the top purchase price buyback today
Someone making good cash on the buyback ??
Yes sold out early this morning could see chance of pull back before moving higher.See how we open in the morning .
Looks like the sell on a news / rise brigade are doing just that. No problem...with todays news, company buy back and likely good press and institutional buying we should see a sustained rise from here. Just might not be today, but you never know.
I wouldn't t count on iot the markets at the moment just Random walk..no logic to some of the recent movements across the board ridiculous logic as gone to share pricing thanks to covid and DIY traders.
Nice 6p head start .... hopeful it will climb today & the acquisition of Custom Solar... exciting times
Outstanding results. Good dividend and share buyback should see Mitie fly today