Member Info for gulfharbour

This is more like it.

Half average daily volume traded in first 45 mins

Great rns.

Up you Oleary

Good point wiscos.

Apologies for being lazy (I'm on holiday), but what is the sp needed for us to qualify for ftse350?

I pressed send too quick.

I meant to say I would sell another small tranche over 120p, then hold balance mid term for income and growth.

I'm pleasantly surprised there hasn't been profit taking that might drop the sp, but let's see how the rest of the week unfolds.

Just sold 10% of my holding at just over 113p to lock in some profits and to slightly reduce my exposure on CARD.

My plan is to sell another small tranche at

Ffs Teleios, bloody spellchecker

Trellis were previously the largest shareholder and have been selling for months.

Anytime CARD got some SP momentum it was killed by the constant sell orders they were placing, so now they're gone that removes the proverbial millstone from CARD SP.

Great news, and good riddance!

As for who bought the Teleios shares in not convinced it was a single institutional investor because they've been selling small amounts for so long.

It will be very interesting to see how the SP settles over the next week or so, and this places even more emphasis on the next CARD red announcement

Topped up at 448p.

It would be rude not to at those prices!

I've been monitoring MNG for a couple of months and I also took the plunge yesterday to but £10k.

Looking forward to that 9.4% yield.

And to counter that JP Morgan today issued an overweight reiteration with a price target of 285p which is 60p over current SP!

I'm not sure there will be an update in August although last year they did issue an unscheduled trading statement on 7th August to notify the market they were trading ahead of market expectations.

It would be great if they needed to do the same this year!

Yet JP Morgan recent broker note showed EZJ as Overweight i.e. buy, with target SP of 640p which is 110p higher than HSBC.

Not that I particularly rate broker notes, but how can 2 relatively reputable brokers give such a range of valuation only a couple of weeks apart?

Are these guys embarrassed by some of these disparities?

Muppets!!!!

Glowacki,

I think there is a lot of truth in what you say as evidenced by recent CARD SP performance despite good results and reinstatement of the divi.

I particularly agree your comment about poor sentiment and it's effect on the mid-cap sector, however I differentiate CARD short term prospects from most other mid caps on a number of aspects not necessarily shared across most other mid caps.

1. Great fundamentals and very cash generative

2. Net Debt dramatically reduced - down from >£140m in 2020 to "just" £34m last year which is circa £24m p.a. reduction p.a. At next res maybe we can see net debt sub £10m?

3. Divi reinstatement at an initial level of nearly 4.5% and with div cover of 3.2x, and next res should also reinstate the interim which will boost this yield further. Also CARD has history of distributing specials as last seen in 2018 and 2019 prior to covid.

4. CARD has previously definitely felt "unloved" and under the radar for many investors, but that could gradually change as it gets positive exposure in press and in broker notes as seen this past week or so. Maybe it is just a coincidence, but the SP has risen from circa 93p to 101p in past 8 days since that first broker upgrade, or maybe Teleios are no longer selling which would be even better.

Finally, as we head closer to interest rate reductions, those companies with high and secure divi will become much more attractive

Apart from great fundamentals, after the recent shares mag article and 2 broker buy recommendations, are we finally on the long expected move upwards?

Its a good question but I believe the big reduction in debt (albeit with a large outstanding balance) is a strong positive for MARS.

We need to see the detail of the agreement to see if this now removes the previous requirement for MARS to retain at least 50% of the pub estate, but assuming this restriction that was previously a condition of the JV agreement is no longer in force, that would free MARS up to make additional disposals if they choose to further accelerate debt reduction.

Also the annual reduction interest payments of £19m goes straight to the bottom line.

I honestly can't see anything like a 50% increase however as interest rates fall and the high divi paying shares become more sought after I can absolutely see 15-20% uplift from here.

Broker ratings often rightly get some flack, but they can be helpful to raise the profile of mid caps like CARD which are often under the radar of many investors.

Another similar upgrade would be nice too!

Roll on September Q2 res

I much prefer to receive dividends directly as cash, then I can decide what to buy, and the timing of those purchases.

My CARD divi was received on time on the 28th, rather than having reinvestment pre-arranged at a future date.

The delay in reinvestment till 11th July (mentioned by some on here) is really taking the p1ss as far as I'm concerned.

Thanks for that LWHL, but 102p is an extremely low target price.

Also if he really does think a debt position of £34m is a "huge debt pile" there is something wrong with him tbh.

That debt was reduced £23m from previous year, and £109m down from the 2020 figure, so he must be looking at historical numbers surely?

Hi LWHL,

What was his target SP?