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Further to my previous post, fortunately took up Rights in the dark days at circa 9p, so at least averaged down. Nevertheless the market still treads cautiously with this one and 40p and beyond, seems to be a very big ask. With a Mkt Cap of just £547m currently, this is either an absolute bargain or a complete sitting duck for takeover. Any thoughts please?
As a long-standing Pendragon shareholder (bought sizable holding for pension @82p 2007ish) I remain disappointed that this share remains an enigma. I appreciate that it has risen circa 20% since the start of the year, but this share remains in a cloud of dust behind Inchcape and Lookers. And indeed on a Mkt Cap basis the former could have us for breakfast and Lookers has a Mkt Cap comfortably in excess of this one. The figures are good, Mr Finn must be one of the best in this industry and the debt is down (and yes I appreciate Vardy purchase nearly crippled business).My own real hope is seeing a takeover happen perhaps a Inchcape/Lookers combined bid to break up this business? I try to convince myself that it should be worth at least 60p a share, but given this board is now very quiet, presume there is limited interest in this particular stock. Only dividend is keeping me in. GLA. Brian
What a shame Pendragon hasn't finished the year on a flourish. Nevertheless 200% plus gain over the year emphasises that this is back as a recognised stock. I was hoping for 45p, but would have accepted 40p as a year end position. Still beggars and all that! Let's hope we get off to a brisk start in 2014 with a good set of final half results and an increase in the dividend. 60p by the year of 2014 is my target. Happy Christmas to fellow PDG enthusiasts.
to soon!!! Here on the seller's again.
Let's hope the beginnings of a pre Xmas uplift after a pretty miserable 5 weeks since year high. My end of year target remains 40p.
More interesting facts - thank you. I pencilled in 45p for the end of the year and when it went to 41.75p at the end of Oct, thought 50p was potentially likely. However in recent weeks there has been a lot of trades and limited upside so would settle for 40p by year end. PDG has a knack of disappointing so I hope your comments come to fruition - if so my next car is through you!
Interesting comments Buzzzy. Presumably PDGs profits come from a range of sources -New/Used/Repairs/Finance/USA/Chatfields? I assume therefore all areas are "motoring"?! I assume VWs are the obvious brand from a sellability prospective? Your comments on share price obviously reflect a large degree of confidence. Nice to hear something from the grass roots! Good Luck!
Yes agreed entirely. They were nervy times and it felt as if the comp would fall into the hands of the Banks. Now capitalisation just covers Reg Vardy purchase price. However Trevor Finn is a superb MD and he has kept his head down and battled on. He deserves his multi million pound holding. Hopefully we are out of the worst and better times will yield a higher share price. Must be close to one of the Best Performing Shares of the Year.
New on here, so hello to all. Large PDG holding bought through SIPP. Bought holding some years back at around 80p - ouch!! Remember the days of 7p and phoning Nottingham to see if they were going bust!!!! Fortunately topped up with Rights at 9p. Don't understand yesterday. 6m shares bought net of sales if I recall, now all yesterdays gains lost, but buy and sells today balanced. This share is pausing for breath, but with a good set of results early half of next year would envisage 60p as being a realistic price target.