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Now that would be nice.
Former Lookers insider takes a 20 per cent stake
Constellation Automotive Holdings has snapped up 78mn shares in Lookers (LOOK) representing approximately a 19.9 per cent holding in the auto retailer. The bulk of the shares were purchased by Tony Bramall (and associates), who stepped down from the Lookers Board in December 2020 after a lengthy tenure. Shares in Lookers have gained 23.4 per cent in value over the past five trading days. MR
Glad to see it recovering in the last week. Was getting a but concerned.
Yep.
Meanwhile in other parts of the distribution sector, both wholesalers and motor traders reported sales above seasonal norms – and expect this trend to continue next month.
https://www.proactiveinvestors.co.uk/companies/news/972322/ftse-100-to-slam-into-reverse-as-fed-chair-turns-hawkish-972322.html
Maybe when NT does his update we'll see he has sold.
Just can't get my head around what is happening to the share price. i know markets had a bad day but this is a good company
The market cap is £233m and the forecast profit is not less as than £70m which is a PE of a little over 3. That does seem low. What the PE is when the market returns to normal is the big question. You would think the present fall is just a blip caused by profit taking at 75p followed closely by a general market fall. Is anyone aware of any other reason for the fall?
They seem to have made a mistake in the diary page. If you click through to the company details https://www.sharesmagazine.co.uk/shares/share/VTU/fundamentals and scroll down to Dividends, they have it correct there.
I wish I had some inkling into the recent price slide. VTU looks great value at these levels. Good assets, solid profits. What's not to like?
KrispyDuck your knowledge of this seems to better than the Market Diary section of Shares Magazine which is where I got my information from and definitely showing todays date as an ex dividend date for Vertu. Like yourself I am therefore at odds also in accounting for todays drop.
Point of order: Ex-dividend was 16 Dec. Today was just payment day so doesn't explain todays share price fall, unfortunately.
Another one banked
73.8p
Car price inflation is rampant as computer chip shortages still persist
When you take the freehold of 6m into account it doesn't seem like they have paid a significant price for this. Using the excess money for a combination of share buy back, acquisitions and dividends seems like a good balance.
Too many taking profits today
Top slicing I suppose
And yet it was impossible to sell 20,000 over 70p this morning
Vertu Motors (LON:VTU)
69p (last night’s close) - mkt cap £245m
Trading Update
Good grief, the car dealership sector is absolutely on fire at the moment. It’s yet another upgrade today -
Further upgrade of expected trading performance for FY22
My summary -
Oct & Nov 2021 trading ahead of plan (and prior year)
Shortage of new cars, but not as bad as expected, and sold at higher margins
Positive customer demand, with strong order book
Used car also supply constrained, values high, but have plateaued - “starting to follow more normalised seasonal trends”
Abnormally high margins in used cars continue
Staff being paid more, to address vacancies, reduced but still above historic levels
Cautious re outlook
Profit guidance raised -
the Board now anticipates that the Group's adjusted profit before tax for the year ending 28 February 2022 will be no less than £70m (previously not less than £65.0m).
My opinion - this bonanza won’t last, as everyone knows, but it will be filling the coffers with cash, and strengthening the balance sheet.
I continue to see VTU as a prime candidate for a takeover bid, due to its sector-leading balance sheet strength, including lots of freehold property, which could be leveraged by a buyer.
Marshall Motor Holdings (LON:MMH) received a takeover bid recently, so the sector looks in play.
"Group's adjusted profit before tax for the year ending 28 February 2022 will be no less than £70m (previously not less than £65.0m)."
This company did the right thing did a buy back before the dividend let’s see what happens to the price in January
@ 69.2p
Coming soon judging by the increasing price
probably as I sold for a 50% profit two weeks ago , GLA
Marshall Motor (MMH) 400p trade offer, a 41% premium. 64.4% holder will accept. [SP=277.83 Cap=217m]
are we next ?????
Unfortunately, for all of Roberts chat and desires to change the world he puts dictatorial management in place that are so old school and non collaborative that vertu doesn’t benefit from its scale.
Innovation is talked about but not acted on.
So in summary they will rise and fall with the rest of the sector (which is fall as the likes of Tesla get a grip)