Member Info for Batfasted

Thank you Cxs1 and Fourier. I now need to work out how to use this information. Did they change their mind about it in the 3 days from 18/06 to 21/06 or was this deliberate to make a quick gain?

Hi Cxs1. I am trying to learn. Please could you tell me where to see the information about the recent shorter? I clicked the tab above “Saga Short Positions” and didn’t see this info.

Ask them. You are right that they haven’t disclosed important information to individual shareholders.

It is probably best to ask them directly for a response. They might then issue a statement on the subject.

The Woodford problem is not helping but is not the only reason for the falling share price.

As a shareholder, you could email the PFG Investor Services and ask for their view of the reasons for the falling share price. I have done this and, in a series of correspondence, I have received some helpful replies. However, I am still not sure what to do about my share holding.

TheBorn
Totally agree but there will be a lot of 200K share sales to offload about 60M shares. The price will probably stay very low whilst the offloading continues.

Theborn.
You are right that it is outrageously underpriced and eventually will have been a good price to buy at but the price may drop a lot further due a probable glut of shares on the market at the moment.

Pokerchips: Very good thoughts you posted and I totally agree.

Volume bought and sold are almost equal today whereas there were a lot more bought than sold yesterday and a lot more total trades. Does this mean we are getting back to a normal market where supply and demand will dictate the price? If so, we should see a gradual increase in the price from here until the interim announcement in September.

Hi Deos. A lot of people including me will have done similar to you in chasing the average price down but it appears you have gone a bit further than most. I have about 110,000 shares at average 46P.
Professional investors are still saying that this price is far too low and so it should recover based on that sentiment alone. On Sunday one top investor said would not be happy for the Company to be sold at less than 80P to 100P per share. The price has been marked down to panic shareholders like us into selling or in advance of a sale of the Company or parts of it.
However there are some concerns that there is too much in terms of intangibles on the balance sheet and if the Directors decide to keep reducing it then they could post losses again in the future. In the long term the intangible assets should not make a difference but if they write them down then there would probably be no dividend in those periods. However eventually the shares will be worth far more than current market price. All in my opinion

Harry. It isn’t me that is suggesting that Saga is and will continue to make profit. They have given projections of minimum £105M and this has not been changed by the statement today. They have also stated that improvements are on the way for next year in that there new strategy is improving prospects and they will have new revenue streams next year. The fact that they wrote down some intangible assets is not a loss. It is the operating profit that matters to an investor. So I ignore the write down in my belief that Saga make profits. Don’t you think they are making a profit Harry?

Pearls. This is nothing like Debenhams which I understand was making a massive loss whereas Saga is making and a substantial profit and is projected to keep making a substantial profit.

Seems like a lot of small trades and total purchase 11.7M shares and sales 6.6M shares. I assume this is today’s volumes so SP should be going up based on there being more purchases. I think that there is something wrong with the trading as it is not behaving like a normal market. Does anyone know what is causing this?

Professional investors believe Saga is massively under-valued. Remember the Telegraph article this week:
Saga's biggest investors fear the troubled over-50s insurer and tour operator is at risk of being sold “on the cheap” as its shares continue a long slide.
One top five investor told The Sunday Telegraph that he fears private equity firms are circling in the hope they might be able to capitalise on its recent woes and grab a bargain. He said his biggest concern is that it gets sold “on the cheap”.
“I wouldn’t want to see it sold for anything less than 80-100p [per share],” the fund manager said. “It’s really, really cheap value stock. Profits will rise, the strategy now is good.”

Hi SJ.1313.
Totally agree that SP is an absolute bargain. I would buy more shares if I had the funds. Also in response to Maestros, the price was also a bargain at 57P and 40P. The reason for the share price falling is unrelated to the actual value based on fundamentals.

I am going to sit tight and wait for the upturn in the share price. It wasn’t an inspiring update but they say trading in line which I suppose means minimum £105M profit which will bring a very good yield. What do you experts think?

Telegraph.co.uk today:
Saga's biggest investors fear the troubled over-50s insurer and tour operator is at risk of being sold “on the cheap” as its shares continue a long slide.

One top five investor told The Sunday Telegraph that he fears private equity firms are circling in the hope they might be able to capitalise on its recent woes and grab a bargain. He said his biggest concern is that it gets sold “on the cheap”.

...proud of the journey we have taken...
From 2.5bn market cap to 0.43bn market cap in 2 years and he is proud.
Funny he didn’t mention the above but only. ...to modernise and refocus...
Yes thanks for that LB. we are pleased you are proud of your journey.

Hi Pokerchips
Yes. You are right. I thought it was useful to show who were big buyers in that period after the big price drop but when the price was much higher than now. It seems that professional investors must think this share is well under-valued.