Member Info for JSB1989

It would appear that Finncap have a budget of £425-450,000 to spend each day on the buybacks.

The only ‘positive’ of the recent drop is that they are buying back 20% more stock than last week at around 115,000 compared to 95,000 shares.

It is pretty mad. Nasdaq up nearly 3% and peers between 3-7% and we finish down in the states.

Given a day in which the Nasdaq is up 1.3% too and we continue to rot away another 5%.

Gdog - any thoughts on potential acquisitions in the CTV space? Ofer seemed keen on near term M&A in the Q1 results webcast.

I think it’s a waiting game to get us as cheap as possible and the macro climate is driving that down nicely for them. There is no point trying to aggressively take us out when the SP was at 800p as the offer would have needed to be north of 1200p. Now the SP is under 400p, a 700-800p offer would look tempting and in the process has saved the bidders £500-600 million.

Qwertyii - you have a growth business here which has £300 million in cash and could realistically have this market cap of £570 million covered within 2 years.

I’m not saying that the SP won’t fall further but it is undervalued and becoming more so everyday. I remain of the opinion that there will be an offer in 2022. That offer will naturally be lower given the SP is at 18 month lows.

How low does this go before a low ball offer lands? The share price was 545p five days ago and has taken a near 30% haircut. 650-700p which is far too cheap could be offered and might look appetising in this market and 200p would be covered by cash on the balance sheet.

It’s shocking the amount which they are compensating themselves following the listing on NASDAQ which simply hasn’t increased shareholder value.

All the $75 million buyback programme is doing is feeding their SBC scheme. The free float is not tightening up one bit.

They have $375 million so they need to start doing something with it. Either an acquisition, an increased buyback programme to actually reduce shares in issue or a special dividend.

Onwards and upwards for PETS.

Those results are very strong. The outlook ahead for the next year reads really well too. Should be pushing back over 300p today!

It’s very difficult to know how the FY results will be received in this market. Take two FTSE250 examples last week, PFD was up 15% and RMG down 15% on FY results.

We should hit top end of the profit guidance. The key points which will determine the direction of the SP are the forward guidances and potential impact on inflation, supply chains etc. PETS have done some great work on mitigating these additional costs so good luck for tomorrow all.

Agreed Krgesu. I have a friend who bred their dog and had a litter of six during lockdown. The pups fetched £1500 each and went within hours of posting. Dogs aren’t cheap to keep and these owners will continue to spend for the next 5-10 years for these animals.

That’s a brilliant thread Cirl. Thanks for sharing. Overall it has to be bullish from me on the company. They are net cash and I take a view that pet care will rank highly in a families household budget during a cost of living crisis.

I haven’t heard a case to say we are overvalued by anybody. In the current climate you wouldn’t get close to 1700p but a bid at 1000-1100p could well be enough for the big boys to part with their shares.

The share price is certainly testing patience considering we are in the middle of a buyback and the SP erodes on a daily basis. After final results we went from 480p to 620p and now down over 30% in 3 months.

They seem keen on an acquisition so it could well be a busy period for TRMR. Failing any meaningful M&A they should go super aggressive in my opinion on the buyback and throw in a further $75 million and acquire at 200,000 shares a day instead of 75,000-100,000 a day. The cash balance would still be at $400 million FY22 end with that additional buyback.

I haven’t listened in yet gdog. On my list to do today though.

The SBC puts a real dampener on cash flow but once that’s clear, the fcf is immense and we are loaded up with a much stronger second half of the year. Sentiment in ad-tech is very low so now is our chance to capitalise on bargain prices. It’s also comforting knowing that we are now at 50% cash to the market cap.

Locked and loaded for the results! It would help if the NASDAQ had a good week too. I’m expecting very strong results but this market isn’t always reflecting that in the share price!

Best of luck.

It’s really grim out there on the US markets. The UK markets are holding up for the most part and get dropped every time the US opens.

Low PE and cash rich tech stocks are the place to be if you are brave enough to invest at all right now. TRMR has virtually half its cap covered by cash could buy back itself in 3-4 years at this rate.

I thought 500p was the floor but that’s been hammered. 450p looks shaky in the next couple of weeks and then we will be upon our trading update. I’m hoping a more aggressive buyback or dividend is announced to help steady the ship as the positive results haven’t exactly been received well in this market.

Another day on the US markets. Dragged us back down again. This buyback really isn’t having the desired effect. Doesn’t help when the board are selling off their options.

The trading statement has knocked £125 million off the market cap. I’m scratching my head at that one! PE is now less than 4 and interim dividend of 4.4p up for grabs next week.

The level of manipulation of the SP here is ridiculous. The A trades sells are following any buyback purchase and depressing the SP further. It’s allowing Tosca to buy cheaper and the company to buy more shares on the cheap. If that’s the case I’d rather Finncap act more aggressively ahead of the Q1 update. We all know the figures will be very good and at some point this manipulation has to end.

I still maintain a buyout will happen in 2022.