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This would be funny if he had not done such a bad job as a CEO:

https://www.investorschronicle.co.uk/news/2024/04/16/saga-superdry-ag-barr-meausring-a-ceo-s-progress/

Mike Hazell is so much better, but is it too late?

Watched the presentation and the key thing is the 3 year policy damage due to rampant motor insurance cost inflation should be cleared out by the end of the year.

Hopefully this CEO can make a good deal unlike the previous one

Batfasted,

main reason is very low volume can swing this share plus they need to refinance and not use rogers money.

If they did a sale and leaseback on their cruise ships things would look a lot better on the balance sheet.

Late surge on tiny volume. This is just such a volatile share

Someone bought 100,000 shares today. Wonder if our UAE friend has started soaking up stock again??

Thanks Poker,

So when there is another writedown of the insurance the net equity will drop again. How much goodwill is in the books regarding insurance at the moment.

I suspect by May they will have done a sale and leaseback or maybe sold the underwriting business. Or Maybe generated enough cash to pay the bond outright as they currently have £135 to £145 million in cash at the moment.

still dont know which broker changed to hold and took out price target?

Hi Thomson,

The reason for the recent fall especially Friday is the fact that 1 of the 3 analysts has stopped setting a price target on Saga and moved to hold. If anyone has more details it would be greatfully received. I know that Peel Hunt has a price target of 145p (Hold) and Numis has reiterated a price target of 200p. Not sure about the one that has stopped placing targets.

All I can say is I wont be buying Irn-Bru anymore ... I am scottish and i love the stuff ... pity

Alnwick,

Awesome thank you. What was Walker Crips target price before may I ask?

Alnwick,

Which broker upgraded to 200p?

Https://www.sharecast.com/news/news-and-announcements/saga-says-annual-profit-set-to-more-than-double--15995692.html

https://www.cityam.com/saga-surges-towards-profit-in-stronger-than-expected-six-months/

https://www.proactiveinvestors.com/companies/news/1039638/saga-predicts-more-than-doubled-annual-profit-on-travel-upturn-1039638.html

.... next step broker upgrades ... what does Peel Hunt have to say!!!

Nice results ... year ahead should be even more profitable with extra loading on river and ocean cruises and improvement on underwriting and of course full benefit of cost reductions. iretail insurance not that good but again only short term pressures. Lets see how the market reacts.

Also movements dur to results tomorrow and to allow Eldose to soak up more float

Bolland07,

I think sale and leaseback is the best option as it instantly gets rid of the high cost loans of RDH and bond renegotiation. The supermarkets did it so makes sense. so technically Saga may not own the ships but they run and operate them take the profit and rent out the boats

From my point of view Bilzo made very good points in the past and I hope he continues to post and indeed the SP almost made his target. I think aspers was luck with his prediction in the end, not from any info he had but because Saga is way undervalued. This is simply proved by the fact if they do a bit of moving money around and rearrange a bit of financing the SP rockets

Peel Hunt raises target price from 115p to 145p.

Peel Hunt had the lowest target price by far.

Rogue,

Agree with everything you have said plus if motor insurence is looking foreward to higher premiums and underwriter profitability, then it instantly makes the motor insurance retail and underwriting side instantly more valuable. If they put AICL up for sale right now I am sure they can command a much higher price than £90M (what they were going to sell it for a year ago. I hope they do and reduce the debt which would instantly change the value of Saga

Passed 7%. regular as clockwork

Cheers Corry, very difficult to work out buy/sell split especially on a volatile share price that can change in seconds. For example on the big spike upwards many of the trades were marked as sells but could have been buys. Also note that the market does not have to report all trades /(especially large ones) on time which also means Eldose's buys maybe reported later

Somebody buying up stock today ... wonder who???

Is a 7% holding going to be announce in the next few days I wonder

Waiting for the inevitable rns that states Eldose Babu hits 7.x% Looks like he soaked up more shares today from late jump in price