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Update being well received by the looks of it. The two departing main men are also major shareholders, hopefully they'll remain that way in the foreseeable. Given the size and power of this group, and the extremely low gearing, the current price significantly undervalues it IMHO
Having sold earlier this year admittedly a few pence too early I was interested to see today’s results and the markets reaction. Whilst the company puts a good spin on achieving a full year profit and reduction in net debt the outlook for the current year is not so clear cut. The current share price seems to reflect a return to 2019 profitability but I am not so sure. The comment, Trading in the first quarter of FY21 is on track with Group's expectations does not tell much about expected profitability for 2021. Whilst headline EPS OF 1p reported EPS after acquisition and exceptional costs resulted in a loss of 2.3p. One to keep an eye on for me at the moment.
Sorry to see the CFO leave his position. He has done an outstanding job over the 10 years I've been involved in this company's shares. Risk was quite high at the time of the refinancing, in comparison to today's strong financial position , with debt almost vanished.
Big thanks, and all best wishes to Peter, and the other departing director
That would be a nice range for now I agree. Got a few more in the dip, for the divi alone they were a no brainer. It's an industry where those that don't expand get swallowed by bigger outfits, so it'll be interesting to see what strategy prevails in the next couple of years.
Results out next week, which we pretty much have the details of from the trading update. If they tell us Q1 has been particularly good , then I can see the re-rating continuing. If not, it might tread water for a bit.
In my head, unless things change one way or the other in the next 12 months or so, I see 120p as the upper end of fair value.
BB
Superb rally here lately, I'd hope to break the pound barrier before too long.
Oldtramp. Sorry, I don't do the twitter stuff. Must be my age !!
Hi alfista are you on twitter oldtrampus ?
It shows that the share price of a stock can rise without lse and twitter sentiment!
Not much of a free float, decent amount of buying, that's about it.
The breakout will surely come if this sort of appetite continues IMHO. Too many comments about how undervalued this share is to leave it in this range for much longer.
Has it been tipped somewhere?
Yes still here although I sold my shares at 84p for a nice profit. Watching everyday as I would like to get back in but always wanting a few pence cheaper than the current price. Story of my investing life, always looking for a lower entry point and then missing out on a subsequent rise.
Anyone still here?
Yes this will re-rate as we become a debt-free company and start increasing dividends/acquisitions. They nearly paid of 4 million pounds of debt last year which is staggering. They can expand by getting more credit and buy a significantly bigger company or just grow organically. As long as the economy does not collapse, short term (this summer) I see this at 120-130 and long term 300p
The best way to improve liquidity would be to properly reflect value in the share price. Nothing beats an investor judging that they have made a good gain and are happy to pass on their holding to the next person. Pre covid we saw the sp reaching better levels, but surely there has to be a step change ar some point.
As my previous message. This sale by directors might meet institutional demand but does nothing to improve liquidity contrary to The Mission Group RNS statement.
One day after 2M shares bought by institutional buyer wow. Can’t be much stock around which bodes well for the share price
anyone there?
This has happened before, and I believe it's genuine. Shares here have always been tightly held, therefore something has to give if II's want to increase. The next step change should be when the company is debt free, hopefully in the near future. Also, of course, when society is free to do what it likes with retail and leisure time.
To meet institutional demand and improve liquidity. Really or just taking advantage of the current share price for directors to sell their shares from the Group's Growth Share Scheme. Call me sceptical but are their sales really going to improve liquidity in a share that does not attract much institutional interest. I cannot complain though as I sold at 82p for a reasonable profit and await the pull back to buy again.
Nearly 2.5% of shares in issue sold by directors which is huge. They have put a spin on it by saying institutions want to buy shares. Although we do know a institutional investor bought a huge chunk recently.
Don't fall for the MM games, this will be over 110p as we head into summer
Will be interesting to see if there is a drop on ex-Dividend date which is tomorrow. I have to say very good momentum so far.
Good momentum
Another great Friday isn't it. This returns us to last week's high, can it push beyond this time. There is recognition that there's a lot more value here, will buyers reflect it?
Looking good. Anyone know the reason for todays uptick? Sounds like its mentioned somewhere in the media.