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PS and a market cap of £467m vs £722m!
Tellworth Investments LLP 0.48% 4 Apr 2023
Even the shorters are using this opportunity to close their positions
I genuinely this this price is a reflection of sentiment and very low volume due to fear of the unknown
its definitely not based on fundementals or technical analysis (heavily oversold now for 9 days!!)
Strangely enough I stumbled over an old CMC article about "Splitting up CMC is ‘bleeding obvious’, says founder Cruddas" - "he believed the £722 million business was “absolutely” undervalued by the stock market and that separating its two main divisions was a “no-brainer”.
I appreciate the review is long gone, but those statements were made at a price of @ 243
Thanks Pan that's helpful (i'd missed s11), but im more suspicious of the timing?
>12 minutes after you posted it is 247.6, phahah wrong so quickly
lol I wasnt talking about the share price (which hit 199 31/1?)
I was talking about YOU generally
Cruddas increases his holding???
AI you cant be that stupid?
Surely you are simply short most stocks ?(confirmed by reading your negative post history on everything!)
I agree threeputt..bring it forwarded, releasing it intra day???, including march's number when march aint finished??
I also said previously that it "feels" like an ulterior motive"
If im being ultra cynical Cruddas is 70 soon and a £2.50 bid would have been rebuffed..would it now??
Hi Freedom
Its not the revenue, its reduction is profit due to expansion which personally I feel justified :-
FY 2023 net operating income is expected to be between £280-290 million
FY 2022 net operating income guidance reiterated at £250-280 million.
FY 2023 operating costs circa £230m
FY 2022 operating costs circa £180m
Hence they can still point to growth whilst reflecting a transient increase in costs:- "These strategic objectives underpin the expected 30% growth in net operating income based on the 2022 results over the next three years."
Brokers
Jefferies downgrade to Hold, cut PT to 190p.
CMC Markets Plc : Peel Hunt buy cuts target price to 355p from 462p
CMC Markets Plc : RBC buy cuts target price to 310p from 350p
"The 6 analysts offering 12 month price targets for CMC Markets Plc have a median target of 242.00, with a high estimate of 355.00 and a low estimate of 190.00. The median estimate represents a 37.97% increase from the last price of 175.40."
Jefferies have always been the lowest of all brokers and yet its still 20% above current
Here is the full set for clarity:-
Share price forecast in GBX
The 6 analysts offering 12 month price targets for CMC Markets Plc have a median target of 242.00, with a high estimate of 355.00 and a low estimate of 190.00. The median estimate represents a 37.97% increase from the last price of 175.40.
Definitely
The yield is now close on 6% and from a Technical Analysis perspective its way oversold on multiple indicators
Lets not forget this is a no debt company, making decent a profit (operating margin is 31%!) , that's sat on 33% of its market cap in free cash flow!
Sellers drying up on the SETS order book
Close on the lowest price for 3 years
Just bought some for the SIPP even though im already overweight in my DMA account
Still top rated Super Stock on Stockopedia
Jimbo is this the other downgrade?
CMC Markets Plc : Peel Hunt cuts target price to 355p from 462p
So downgraded to DOUBLE the current share price?
Jimbo deffo short, lets be clear
CMC Markets Plc : RBC cuts target price to 310p from 350p
Whats the other?
Shares Mag said there was an update today as well
Alliance News says its all
"As a result, CMC forecast financial year 2023 net operating income between GBP280 million and GBP290 million, with operating costs expected to be in the range of GBP215 million and GBP220 million.
In the year to March 31, 2022, CMC reported net operating income of GBP281.9 million, so at worst, it forecasts a 0.7% decline.
Shares in the company closed 21% lower at 184.20 pence each in London on Monday."
Wouldnt be surprised to see a large director buy or even an offer now (I know the Cruddas's holds 62%)
Cant help but think there's an ulterior motive
Will also be interesting to see what Tellworth do. I cant see them sitting still. Will they increase or close out?
Is it just me or does it seem odd they put this out when march hasnt even finished?
OK thanks for that Karl
fyi those are HSBC Analysts not bankers and its the reason the price has held thus far today
This morning HSBC put a BUY on DARK
>I tried dummy trades to come up with findings. If you look here on the trades tab there is a 7.5k trade gone through in one hit.. there’s also another +7.5k trade, 5k, 4k etc on the LSE site
Yea they will be off book trades but not @ 460!