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Sold half as much as planed last week for 146p.
Last week a tiny partial went through at 144.5p
The Company is an information technology (IT) managed service provider offering cloud, cyber security.
Good rise last 10 days now 145p.
22/2/19 they were cheaper then my buys at 69p
3/9/20 the 3 year high 158p
https://www.barchart.com/stocks/quotes/RCN.LN/overview
Barchart Technical Opinion
STRONG BUY
The Barchart Technical Opinion rating is a 100% Buy with a Strongest short term outlook on maintaining the current direction.
Long term indicators fully support a continuation of the trend.
The market is in highly overbought territory. Beware of a trend reversal.
Some chunky buys and good tick up in price today - how come?
Former CFO of Redcentric (Cooked the Books) who?
Looking for an opportunity in the tech industry check out CLCO plenty of upside potential. IMHO DYOR
Nice rise here , still looks cheap to me
The mid period acquisitions, structure of the acquisitions and phasing of costs makes these interim accounts a bit of a nightmare to get to grips with, even for existing investors who know the situation quite well.
However, I remain a happy holder who sees good value that will one day start to come out.
RNS Large interest increases holding again , clearly they see value here . Buying on very low volume , perfect .
Took 10%, FTSE looking weak, very weak. Still think this is a takeover target mind, I'm just risk off right now, holding more cash. Hope you all do well from here, will keep on the watchlist.
All weak hands out , no trades yet today , lombard odier increased position . could get interesting.
Great volume again today, will it test supply again at 102p, who knows. Looks good to 112p (little resistance there) then onto 120p. Usual caveats apply.
I would be looking more 150, stall for a while then 200 .
Plenty of volume today too. Took a position @ 102p last week. Looks good for a move to 112p initial target, wider economic factors may scupper things though……We’ll see.
Got the flush down to £1.00 as predicted , see what happens here , hopefully little supply available and pushes up to next level , a nice rns should do it . if its going lower turn out the lights on way out please.
GLA
As a long-term investor, happy with this piece of business.
Daisy recently took a large chunk of the Sungard Data Centre estate from the administrators on a similar deal (i.e. customers need to contract with them on new terms), so was glad 3 have been picked up by Redcentric, it seemed a good opportunity to get a decent set of clients.
RCN strategy makes sense, management are credible - not sure why it is trading on a pretty low EBITDA multiple for something generating so much cash. I guess organic growth is a bit low but personally it's the cashflow that attracts me as they can get a blend of low steady organic + acquired growth via cash and debt at sensible leverage.
Good returns for shareholders.
Long term hold for me with the dividend in the meantime.
Like the chart here and presence of large interests , would welcome a shake out spike to £1 to take out stops , supply must be nearly exhausted .
Worth looking on the results slide pack on the website, some useful comments there about a thoughtful acquisition strategy and latest cash position (even before the second tranche of proceeds from Thales).
Appreciate the insights Appleby. Maybe it has been the former Mrs Bezos selling to give to charity. Seems to be attempting a breakout very recently.
Zarro, have a look at amazon share price , near perfect example of price being held in a range for over a year , someone is either selling or buying in that range , once the campaign is finished it will move very quickly either up or down .
This is not a fair game mate.
It does however show that several large players are taking big chunks of this business .
You must ask yourself why , will take a while to play out.
I Have tucked a few away .
Thx Appleby - i learn something every day. Although, being a simple soul, it does not seem right to me that someone can accumulate or divest holdings of more than 3-5% but not have to disclose it until some future date.
IT was purchased over weeks and months prior , only when the order is filled does it become reportable . The large positions taken can take years to get into and out of , think of it more as buying campaigns , buying on the lows of the range each time it hit the lower level they buy more.
Perhaps someone can explain to me how this outfit acquired 17m shares on 29 June when there were only c400k shares reported as traded on that day and the share price saw no meaningful movement.
Very good reduction in debt, be clear by the end of this current financial year. Have the money from the sale also due, around £5 million so after debt is gone where does it go?
Back to shareholders or to buy something else?
i used to own and i sold luckily before the disaster period for this business and have now come back in. they obviously don't hold many shares as i have to wait for them to find enough this morning which helped with the sp increase.
far more stable, focus and direction, debt not that high and coming down, divi in place. good luck all.