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Looks like the future is not going to plan, so its not managements fault, its the virus, or that's what they would like you to believe.
Bailed out some time ago despite the business fundamentals looking ok. Today the price looks so low I wonder if it will attract a bid?
I’m hoping that the results put an end to this constant decline, regardless of all the cv doomsday scenario’s.
Full year update tomorrow looking at buys/sells today there seems to be more buys even though sp is down 5% ish so no mass sell off in anticipation of poor results maybe stops being hit and tomorrow hopefully a bounce on news that future is going to plan.
I invested a small amount at 350. On-line gamblers facing stake reductions/maximum stakes, I will buy again at 315, should it get there.
When I look at PTEC I always expect to find something wrong with it because it looks too good to be true. So far I've trusted my research and made money buying the dips. I've gone in harder this time so hope I don't get caught out!
Thanks Rax. I already hold and surprised how far they’ve fallen. I know a lot of stocks are down in this market but this seems to have taken quite a hit and I was trying to find out why
You will find no reason other than unloved, the tide will turn here with results hopefully they will be sound without any caveats like extra taxes for past actions, they have paid a heavy price for the competition in Asia and therefore reduced revenues Snaitech was purchased to combat that decline imo, it's possibly down to market confidence so perhaps now is a good time to invest while sentiment is low.
Good luck with whatever you choose to do.
has now dropped another 23p since I posted a few weeks ago on looking into this. I will be looking into the Bloomberg today to see if I can see any reason for this, but I am starting to get itchy fingers. I still think the FTSE will drop to 7000 over the next few weeks, and that should hopefully throw up some value.
Have I missed a RNS or something which may explain why this keeps sliding. I didn’t expect to see it down here.
Regards
Housebound Chinese playing online poker could be a surprise win for PTEC
Any excuse to move PTEC down and down she goes, value territory around here though, moving in band between 350-400p 500p out of reach until results suggest otherwise.
Struggling to understand a near 4% drop here when general market is down due to fears over Coronavirus.... or all the companies a pandemic could effect I think Ptec would not be high on the list... Makes no sense.
I expect it to be significant as they cut it considerably to effect a buyback in lieu. https://www.hl.co.uk/shares/shares-search-results/p/playtech-plc-ord-npv/dividends
Thanks for the response lads. Interesting opinions. I need to check the dividend cover as well.
Nothing due until 2023 https://www.lse.co.uk/rns/PTEC/playtech-plc-playtech-prices-new-eur350m-7-year-bond-at-425-px7i3f4w9xxz1hd.html
Hello f15,
Pleased you mentioned the bonds because I am not sure what PTEC intends to do here regarding paying them off, I would of thought something along the lines of issuing more bonds and some repayment from cash reserves to reduce overall debt,
hopefully they will sell Tradetech as its non core and strengthen the balance sheet.
All the debt is in the form of bonds. Bank debt is available to the company but is at the moment completely undrawn so liquidity is certainly not an issue. Perhaps no fireworks but last trading update was OK, very good value and a very good dividend. A poor update priced in at this level IMO but rest of sector is doing OK. Wouldn't be surprised if they sold Tradetech.
I can't see significant sp growth here should go up a bit with results, I can't see significant downside from here either, but no fireworks going forward the business is still in transition and fighting media backlash against betting and probably more regulation as a lth here there are better places to park to your stash.
I was just thinking the exact same thing myself. Going to have a look into it, but any SH'ers that have any insights it would be much appreciated.
Noticed another modest drop today yet a healthy number of share trades and many buys. Is it time to bottom feed on PTEC? What are the current levels of debt, income statement, profit and loss etc? What is the present net asset value per share? What more bad news is lurking?
£6m UT whats that all about - from 6p down to 3p up on the day
Sold this morning and threw most of it into IMM when it was up 70%. I already held IMM but was down until the good news but am now very nicely up even after accounting for my losses here and I bought in at 600p or less!.
Might I come back? Maybe if I saw a flow of good financial data and news from PTEC.
https://www.playtech.com/news/playtech-extends-casinobarcelonaes-partnership-live-dealer-services
Deutsche Bank today reaffirms its hold investment rating on Playtech Ltd (LON:PTEC) and cut its price target to 425p (from 435p).
All other brokers are stating numbers above theirs, so can you take this recommendation seriously? looks to me like a buying opportunity, wouldn't surprise me if DB are buying up the cheap shares on offer when they brought about the situation.