Member Info for Pianista

Oh well, that's today's excitement...

By the way, if anyone still had concerns about HSBC, this RNS should allay them.

dc2 - not a real purchase, granted, but still a positive. Every little helps!

Obviously the buy backs were done at artificially low values, so it makes the trade data look bad - for the uninitiated at least.

Just on the 50% figure I quoted from memory for Clipper, that actually related to Nov and Dec '20.

There she is, right on cue!

Interesting to compare DX with Clipper.

Clipper has an impressive list of retail clients from which, by chance, it has benefited hugely (e-commerce sales up this year by 50% I believe).

Compared to say Clipper the benefit to DX from e-commerce has been limited, because it didn’t happen to have the right mix of clients at the outset. In fact, DX management have indicated that coronavirus has been a drag overall, due to the adverse effect on B2B. Despite that, DX has done incredibly well this year: it’s resilience in the face of such adversity is a feather in its cap.

So the end of lockdown should be a worry for Clipper investors, but not for DX investors - something that is reflected in recent PDMR trades (DX – decent buy, Clipper – very big sell).

As our CEO said when reporting the recent interims:
“We see a healthy pipeline of opportunities in the parcels market. Given…anticipated levels of new business, we expect the Group to make further strong progress”.

However, I believe DX is currently being tarred with the same brush as the likes of Clipper, hence the current SP weakness.

By the way, the PE ratio for Clipper is 36. Adjusted EPS for DX for the current year is forecast to be 1.5p, which implies an SP of 54p. So there would appear to be plenty of headroom, and it should only be a matter of time before the market wakes up and sends the SP back towards 40p+.

There was an RNS last time on the following day, so I agree we should see one tomorrow.

Furber and wife did the same on 6/1/20 - at around 22p! So I agree, it's almost certainly them again. Let's hope it goes better for them this time!

4 big identical "sells" just now, that obviously weren't all sells.

Almost certainly "bed and ISAs". But done by whom? Hopefully PDMRs, because that would show they expected gains from here on in.

Can't remember if PDMR bed and ISAs are reported by RNS - maybe not since the net change in beneficial holding is nil.

They're probably not restricted by close period rules either.

50,000 "sell" at 8:18 was my buy.

Ah, yes - I should have read the RNS properly! So the shares - or a maximum of 3.3M of the 4.9m total in the RNS - weren't bought on the market, they were consideration shares issued as part of the acquisition. Maybe they bought at least 1.6m in the market therefore? If so, not much effect on the SP!

I wonder why CRU issued shares, rather than paying from its now plentiful cash resources? To finesse the vendors' tax position, I suppose. But it also means the vendors' are well-incentivised, through both the earn-out and their ownership of CRU shares.

I'm no chartist , but I too can see this gravitating back to mid 30s over the coming weeks/months. Ultimately though what is keeping me going is my faith in the management. They've done a brilliant job so far with the turnaround, and I can't see them allowing this to fall short of 40p by end 2021.

New 5%+ holder disclosed. They must have bought at least 619k shares to take them above 5%, but as usual the relevant buys do not appear to be amongst the trade data listed on this site.

The market must be waiting to learn of the result of their "review to determine the most advantageous route to deliver shareholder value and apply the net proceeds from the Disposal".

“No one is buying”. But no one in selling either, including the ex-FD who still has 5% of the company (as at Oct 20).

I always like to ask myself, with any share I own, would I now buy if I weren’t already a holder?

Knowing what I know about Trak’s recent history, I certainly would be happy to buy 100,000 shares right now: the risk/reward profile is too good. Just look at how the SP reacts to the slightest bit of good news (eg the Raza top-up, half year results last Nov).

Chances are, though, that Trak wouldn’t be on my radar because I couldn’t be bothered to do the research. I suspect this is true of many potential investors. However, PDMRs don’t have that excuse, which is why it seems strange that they aren’t buying at the moment, though there could be personal reasons…

Meanwhile the BOD have a big incentive to get the SP moving this year: they have a whole load of options to buy shares at 34p as from Mar 22, but only once the SP exceeds 50p.

If the £4.5m debt were a real problem, it could get a £5m CBILS.

Modest adjusted loss for the year should be "only" around £0.2m, as last year.

Potentially an excellent recovery play due to high operational gearing. I haven't looked recently, but I think QTX makes very decent profits on broadly similar overheads by having a sufficient, but not astronomical, turnover. Trak has recently been focusing on sales, with 82 employees vs QTX's 65, so far without much success.

I don't know much about the management, but from what I've seen of them (results presentations) they seem quite impressive. I think the company's had some bad luck (eg Iran); could this be the year its fortunes change, eg Smart Breakdown breakthrough?

Microlise's significant interest in the company is reassuring - they saw value in Trak when they paid 20pps odd for 20% - and may hold the key to unlocking Trak's full value. They must be currently nursing a loss on their investment of c£0.5m (ouch!).

Port - I'll keep you posted. Can't promise it'll be good news next time though!

Confirms everything is tickety-boo. Weak dollar could reduce its c£60m operating profit by just c£2m, and yet Sharecast News makes this the headline. These journos can't see further than their own noses!

Broker PT upped to 42p apparently, based on interims, giving 40% upside.

What did I tell yer?