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And look at today's price action on double the Buys and Sells. One can be done on US Technology, but isn't this a bit mad?
Afternoon Polarites, seems like a good entry point so I've joined the party ;)
The exceptionally low P/E ratio suggests that a certain amount of risk has been priced in. Quite a lot of risk. The management are also aware that they can’t afford to look like a one-truck pony and are diversifying.
Agree that 2022 is a bit of a darkened room at the moment and no sign of the lights being turned on but business will go on.
They know what is coming down the pipeline - yes in terms of operationally and with the company to an extent. Do they know how fast rates will rise, how big a pullback in technology shares there will be, if there will be a war in the Ukraine - I would argue they don't know any better than a well read man on the street. It's not possible to predict these things and all could have an impact. This (to me and in my opinion) is a good company, but the overall profitability is heavily dependant upon performance fees and hence market performance. I believe this is likely to be somewhat more subdued this year, potentially even negative in the technology space. The share price where it is reflects this.
Bought more at 653. Bargain basement.
Topped up at 690. It's better than Gavin's deal anyway.
another director purchase today. 20,000 shares for Gavin Rocheson at full market value: 699.8p
Surely they know what is coming down the pipeline, and it looks good to them. They aren't spending this kind of cash just to bolster the share price.
too many recommendations for Polar's ITs in media...so bought this instead. Missed Friday's price but happy to give it a go this afternoon....
Also a vote in relation to general market conditions. Makes this quite a leveraged play coming off quite a slump in the share price.
They're not small buys either are they? 30,000 & 45,000 shares respectively. If that's not a vote of confidence from a couple of NED's (one of whom is the Chairman) I don't know what is!
Double bubble!
All it takes is a director to buy a bunch of shares to stop the rot
I'm back in here on that RNS. Good luck all.
Misguided sentiment. RNS should put a stop to that.
Ok why all the selling, who knows something the rest of us don’t???
#POLR Good news from Polar Capital with AUM reaching £24.3bn by end Dec 21. Their strong investment performance continued and they remain on track to meet FY AUM expectations. Our fair value of 1400p is double today's share price, and their PE is a 1/3 of competitors. https://www.equitydevelopment.co.uk/research/on-track-to-meet-full-year-aum-forecast
All pretty rosy!! Well done Polar!
Rather bizarrely my buys show as sells!???
Yep just bought a sackful myself. Seems a very sensible switch imo.
Took some LGEN profits to buy more POLR today. I had too many LGEN and think POLR's potential is equal to or greater than LGEN's.
Richard Leonard buys back into POLR with a price target of 900. (PIWORLD interview)
13m17s
Https://www.piworld.co.uk/education-videos/piworld-interview-with-richard-leonard-winners-and-losers-of-2021/
Gavin Rochussen, CEO of Polar Capital Holdings plc, and Samir Ayub, CFO, discussed their interim results including the ongoing strong inflows, coupled with their new strategies which are attracting good initial interest. They touch on the good capacity they have going forward, their culture which steers away from star fund managers towards building a broader and more resilient base, and their ability to grow without recourse to M&A.
The full video recording of the Investor Presentation we hosted is available here:
https://www.equitydevelopment.co.uk/research/polar-capital-25nov-interims-presentation
....playing around today. I expect a big gain after the presentation on Thursday but long term these are a lock-up on divi alone.
We knew momentum was strong on an absolute basis in H1 22 with AUM reaching £23.4bn on 30 Sep 21, 12% up over H1 (31 Mar 21: £20.9bn) and 43% up y-o-y (30 Sep 20: £16.4bn). Now, with most asset managers and platforms having reported AUM for the July-Sept quarter, growth looks impressive compared to peers too. Polar had the 4th highest organic AUM growth (out of 15) in the 6 months to 30 Sep, and the 3rd highest over 12 months. Growth has continued in H2 with AUM reaching £25.0bn on 12 Nov.
We increase our fundamental value from 1305p to 1400p, 70% above the current share price. We had previously forecast AUM of £23.4bn on 31 Mar 22, but it is already £25.0bn. If we assume no growth from market movements or investment performance for the remainder of the FY, with net inflows continuing at the average of H1 (just over £100m per month), our revised estimate is £25.5bn.
We also note the continuing discount in valuation compared to peers. Polar’s PE ratio of 12.2 is less than half of the peer group median of 30.0, which seems strange given its growth and profitability profile. We maintain that there are sound reasons for a significant change in rating. https://www.equitydevelopment.co.uk/research/strong-h1-aum-growth-continues-post-results
...and more to come at the Presentation.