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I can’t disclose where I used to work, but every time the BODS bought it wasn’t long before the ‘good’ news came. And sometimes it was in the closed period!
I think they're aware something good is coming!
AIM rules dictate they can't buy before good news, but if the market drops them for decent interims they have every right to buy in. I'm not clear on them, but maybe?
Ah! Didn't see the RNS was tucking into my bread and butter pudding with some creamy thick custard! GLA
Yes, they mopping up these shares for good reason along with PIs.
Director added again today. See rns
Oh dear I know the BOD aren't it short term but they must be gutted as they could have got the shares cheaper! But then I bet they didn't think they'd drop lower...
Sp not responding to volume, 3 days on the bounce. Nonetheless sturdy support of 126 established, looks like this will be a slow roast, happy to hold!
FT article out today. Nothing we don't already know. This is definitely to cheap.
In the interims, pre-tax profit rose 58 per cent to £8.7m from £5.5m the year before. Revenue for the period increased to £126m from £117m. Full-year earnings before nasties should be £34m, up from £31m. This sp will rise in coming weeks imo
Kenj, By no means am I suggesting it's a positive rns because it's not. It's a UK driven company first and foremost and escrow numbers are down yet again, along with the cash conversion ratio which you highlighted. Not been involved with the company prior to this drop but it seems there's an everlingering dark cloud over leadership too since two years ago. Nonetheless the above does not warrant a 32% drop in SP, especially when you factor in the positives of the RNS. I'm not a long term investor but in my judgment expect 10-20% from here in coming week/weeks, more than happy to hold at these levels.
Bricks92,
I am no accountant, but not all of the figures posted look good. The report highlights sterling gross profits and margins in red, while less impressive net figures are given less prominence.
"Net cash flow from operations of £6.6m (H1 2018: £14.7m) with the decline largely resulting from working capital impact of short term increase in trade receivables, together with a reduction in trade payables, which is expected to reverse by the year end."
Not totally clear what that actually means, and the second explanation is not much better.
"The Group generated £6.6m of net cash from operating activities (H1 2018 £14.7m). Working capital deteriorated during the period, owing to a reduction in trade payables, mainly arising from the normalisation of payment terms, together with an increase in trade receivables caused by the temporary impact of credit control team turnover as a consequence of senior management change. We expect this position to reverse in the second half as a result of sales and finance team strengthening and the implementation of a new credit control system."
However, I do agree with you that the sp fall looks overdone.
Having read and re-read the RNS, still can't fathom the justification for the dramatic drop in SP. With news of director buys coming in after close and buys heavily outstripping sells on both Thurs and Fri, fully expect a healthy tick up this coming week, happy to hold. GLA!!
Put it like this, IF anyone knows the potential of the company... it's the BOD...If they didn't feel it had great future prospects they wouldn't have taken an advantage of the drop in sp and piled in. As far as they're concerned they put out a decent RNS and the market dropped their SP, so why not reap the benefits if the PI's don't want to..
There's absolutely no way the Directors would buy that many, and at that price if THEY didn't think NCC are great value for money. And yes Bladey it's simply a 'nonsense drop' That's been proved by the Director buys..... GLA
NCC upgraded to “buy” at Citigroup;
It's simply a 'nonsense drop'. Well over-done, and if the price is under 1.30 on open Monday i'll be topping up more. At current price it's an excellent investment!
Some significant Buys, shows confidence. This drop in share price is unjustified. Strong Buy imo
Kenj many thanks for your explanation and your precious time!! Much appreciated:)))
NewDayToday,
Shorting is basically borrowing shares, selling them, then buying them back at a cheaper price later. The shorter then pockets any gain and hands the shares back to the original owner. Basically the shorter is betting that the share price will fall. Selling millions of shares that you do not own usually drops the share price, so the first part is relatively easy. The trickier part is buying them back without causing the share price to rise.
Anyone who is shorting 0.5% or above of a company stock has to declare this, and this may be viewed on certain websites. The actual short figure may be higher, as there may be some shorters holding undisclosed positions up to 0.49% each.
http://shorttracker.co.uk/company/GB00B01QGK86/
The above site is the one most often referred to. It is free any easy to use.
If you want to view another company's short position, click on the blue Companies >>> link before NCC, then enter the company tag you require.
Just noticed that the short increase by Coltrane was on 26th Jan 2018 - ie one year ago.
So shorters certainly are not back.
Hi Kenji still learning here what does that exactly mean! Thanks in advance.
"Ah, shorters are back for more.."
Correction - shorter in this case is singular.
Coltrane Asset Management have increased their short position from 0.52% to 0.91%.
No other companies have a recorded position (above 0.5%).
And confident Director buys restores confidence too!!! How high does a cat bounce? GLA
Quarter mil Cash bud....
Hi Bladey, was that monetary value or volume?