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somebody appears to be loading up on the dip
06-Feb-23 09:03:29 36.494 500,000 Buy* 36.38 36.54 182.47k
06-Feb-23 09:03:21 36.494 1,569,040 Buy* 36.38 36.54 572.61k
06-Feb-23 09:03:12 36.50 1,000,000 Buy* 36.38 36.54 365.00k
Closed period confirmed, and next statement is FY in "Early march". I would expect a steady rise from now on in accelerating toward expected FY release date.
Not long now ... TICK TICK
I feel that we are defo in the closed period up to FY now. So taken some modest profits out of RR and I've added a few more on todays drop.
At this rate I'll need a TR-1 !
I agree spades. But I think that bodes well. Had earnings be so-so they would have got them out. Still : I’d have preferred to know : maybe tomorrow is the day
Its now 59 days to March the 31st.
Its disappointing we haven't had a trading update, and it is extremely unlikely now if we are to go by last years dates.
Wagamamas look very busy everywhere and menus are popular. Frankie & Bennys always looks like the weak link that needs a revamp or selling on, not so busy and menu is terrible compared to how it used to be years ago.
Waga looks busy in London. Ate at Camden on Thursday lateish : still 2/3 full. Has anyone seen anywhere that’s doing badly? (looking for a countersign). Else I’m impatient for a rerate.
Might come out on Tues 31st. Last reasonable time to do a Q4 trading update. IMO
Updates in the drink trade upto now seem fairly positive with trading over Christmas robust.Still no January update or planned but always seem to have one could there be a nice surprise for us?
Frankly and Bennys is just an embarrassment. It’s like something out of the 1990s and the quality of the food is terrible. I’d turn every one of those into a Waga - save for those already next to a Waga. I’d burn those (making sure no staff, customers or others are inside of course).
Vodafone was probably too big of a juggernaut to turn around. Some excellent points made below re extracting value. The most likely, as pointed out, is a sale of Franky and Benny's, and a rebranding of Chiquito to take it up more up market. Sale of leases on underperforming sites and a greater expansion via franchising overseas. We are not going to see seven quid here again, but a pound (If the recession isn't too hard) could be achievable by year-end. I'm in for 5K (not life changing, but this is the most risky share in my portfolio) at 35 after The Sunday Times article. Good luck all.
I think F&B will be difficult to offload a its most probably heavy loss making. Better off just selling the licence to Iceland and farm foods and closing the restaurants down. Chiquito is tired but decent and will probably be re-branded and freshened up as BAR & Burrito, cant see the point in having two Mexican brands
I'm expecting a significant rise in valuation in the coming months. Hopefully back to the 1bill Market cap
Maybe Oasis would like to see the company offload Frankie and Benny's? It's certainly not as popular as Wagamama. Maybe the company would be better off selling it and investing the proceeds into expanding Wagamama and the pub estate? If Oasis manage some kind of shake up, I suspect the share price would respond positively.
To some extent I hope oasis are patient. Exec team heading in right direction as it is.
* I was going to post the link regards Oasis/Vodafone but can no longer find it. I'm certain i read about it somewhere, possibly it was another hedge fund. Not that important anyway.
Oasis target companies they believe are particularly undervalued and have a lot of upside potential. It's what they do, it's how they make their money. For them to have taken a position, they will presumably have spotted a means of increasing shareholder value here in a really big way - certainly enough to interest them and want to get involved. What that is, I have no idea. But I suspect they'll have some kind of plan for the company that they'd like to see happen - and we'll probably hear about it over the coming weeks and months. They might even increase their position further. They're activist investors and I think that can on occasion involve ruffling a few feathers in order to get the company in a better place. So we might see a bit of that along the way (or not). They took a position in Vodafone but were unable to bring about the changes they wanted to see - ended up giving up and selling out. So it doesn't always work out for them, but they did a good job of turning around premier foods - they do have quite few success stories and as their primary goal is turning around the company's fortunes in order to greatly increase shareholder value, they're on the side of shareholders and should be seen as a force of good.
Let’s see. Not sure how re-rate arrives. Probably a shift after Q4 results (though these could be done in Y/E?). But just a ‘shift’ the re-rate -read +100% rise is probably following buyout rumour etc. or significant stake building. Though whopping airport results might help.
Oasis have a track record of investing in companies they believe have a lot of upside potential. They typically target companies that have a low share price which they feel could/should be much higher. They usually target companies they feel could be run better in some way - they often have ideas they feel could add a lot of shareholder value, ideas about the direction they'd like to see the company take. They are activist investors. Typically, once they've taken a position they work on bringing about change or moving the company in a particular direction in order to improve the company's prospects, which in turn leads to a higher share price. They have a good track record - premier foods, for example, saw a huge share price increase following oasis taking a position. Once a much higher share price has been achieved, they typically reduce their position or sell out altogether. From what ive seen, they appear to be a force of good for shareholders - their ultimate goal being to substantially increase the share price by introducing some kind of change or course of action that they feel is necessary to make the company better.
At giant squid : if your numbers a broadly right : you could take out RTN at current price a sell on in parts for about x5 current SP. Waiting for Q4 update and hopeful of a re-rate.
Reuters
Hedge Fund Oasis Takes 5% Stake In The Restaurant Group - FT .I see now
Where’s the info on this from?
Hedge Fund Oasis takes a 5% stake in RTN
Not sure when the next update is due, but the company is clearly doing pretty well or they wouldn't be opening new sites left, right and centre like they are.
There in a strong position to be able to invest in there estate and new developments as smaller groups close down.The amount off bars and restaurants decreased again last year giving people less choice where to go the bigger well run groups will start to do well especially as food wage utilities slow down over the coming years.This is a long term play here same as others in this sector but buying in now could reap very good rewards.
Wagamama is worth at least £600-£700 million (or more) - RTN have opened what looks like many new stores during 2022 and it's clearly a hugely popular restaurant chain. Also a fair few new pubs have been opened recently from what I've seen online. The freehold pubs are worth £160 million+ and the company has nearly £200m net cash. And yet market cap is just £270 million! At these prices this is a steal.