Blanketstacker
23 May 2016
Re: Blanketstacker Hi JackoWe may not use the same methodology, and we may not be looking for exactly the same thing, but we do have an awful lot in common! I think the main difference is that you are a lot braver than me though.I used to hold AVG, HAYT and PRES but sold out way too early in each case. I still have VLK, PEN, and HYDG and am happy to hold them despite the latter two are showing losses. In each case I can see 20% plus to be had. Patience is the key!BVM, NAR and AUK I have liked for a while. All seem under-rated companies; but they are so tiny in each case that I have held back from buying. CMH could go either way, but again it is a company I really like the look of if things stabilise. RTN should be a takeover target. Paul Scott is very enthusiastic and I very much respect his analysis(@paulypilot and on Stockopedia). I think taking on oil-related services is a good move for the long term. HTG (which I again sold too early!!) is still a good punt if it falls a wee bit more, and how about GTC? It is a tiddler but has money in the bank and a progressive dividend policy (these I hold, and possibly have done for too long!!!)I need to get my head down now, but intend to check out SL. and AUK over the next few days. Thank you.b
Another Jacko
23 May 2016
Re: Blanketstacker Hi BlanketstackerThanks for the detailed response. I've had a quick look at all those companies on your list and found a couple that are interesting to me. and large I look for things that are out of favour or suffering a blip in earnings or are cheap on a sum of the parts basis. I also value balance sheet strength, low debt etc.I'm currently holding:BVMDRSHYDG NARODX OMGPENSL.SUHVLKI'm actually sitting on a loss on half of them, but those ones all have the chance to recover and none of them look in imminent danger of going broke so I'm hanging on.In my SIPP I have taken a bit of a punt on the oil price, but not by buying oilers, but by buying companies with partial exposure (with the exception of NTQ which is a pure asset play) to the oil price but which look goodish value without the oil and gas profits (with the exception of PRES which I went in to too early).I am holdingAUKAVGNTQGOALHAYTHYDGPRESRTNSNXTRTThere's not much I'm actively watching. I was watching IND but felt that SNX was better value on an earnings basis (I bought for 125p) and I have recently been researching CMH but the balance sheet is not great and I'm waiting for imminent results.
Blanketstacker
23 May 2016
Re: Blanketstacker Hi Jacko, we meet again!I tend to have a look for companies with assets or little debt, and a decent record of profitability. If bumps have occurred in the road and brought the price down accordingly, that is ok by me, provided there is at least a tiny hint of a glimmer at the end of the tunnel. In a way I suppose I am looking for value, but often end up bottom fishing. Sometimes I do OK, other times not. I certainly couldn't make a living at it! At the mo I am watching: AMOBON (update due 10 June)SHOE (update 8 June)WJG (very early days)EMGWTMRM.LIOSOMCTOIND CGSLVDITE (not for any particular reason in this case!)As you probably realised I have holdings here and in HYDG, the latter for quite a time, but here I am recently back in after selling out last year with a small profit.Recently I have bought RGUSFRALUSAGRECPENNUMHVNGFRDDRVQP.except the last two I think these may still offer some value. My very basic screening also throws up all the decent builders and a fair chunk of consultancy firms. It is not that discriminating!!How about you? Anything interesting? Do you have a set of criteria you work to? I filter on PER, PEG and yield. (Apologies if this is a bit abrupt. I am just off a week of nights, and I am too old for that game now!)b
Another Jacko
21 May 2016
Blanketstacker Hi BlanketstackerI notice we've come across each other on a couple of these types of stock which makes me wonder if we're similar types of investors. I have a small holding in this (a mistake as it transpires) and a larger one in HYDG (where I still have high hopes).Do you know of any more situations of that nature that might be of interest?
Another Jacko
19 May 2016
Re: A recovery play? But did they sign off on that other large contract which they said had been won and which 2016 and 2017 revenues were dependant on AIUI. There's been no RNS which I can see so I'm doubtful.
Blanketstacker
19 May 2016
A recovery play? The chairman went today. I am not surprised given the results published in March:Revenue down 40%Loss per share 8.7pDividend suspendedBUT, there is still money in the bank and unrelieved tax losses that together add up to 45% of the market cap. The order book for 2016 and 2017 is also allegedly 'healthy', and new contracts are still being won.You can currently buy at 29.5, a four year low. Interims are due in September.
Another Jacko
05 Feb 2016
Is that all? I bought a few of these at around 67p because I foolishly believed the company when they said they expected a stronger second half so I thought they were potentially cheap.Then it turns out that the second half won't be better than the first but they are negotiating £15m worth of contracts which they expect to be signed.But it appears that only £7m were delivered.Today we get an announcement of a very small contract with the potential to become a modest sized contract and the shares rise substantially. I would have thought given the company's recent record the market would be a bit more cynical towards the shares.I guess when they rely on a relatively small number of large contracts for their profit the results are always going to be lumpy, but on recent form I don't trust the management enough o buy any more for recovery.
lambrini girl
21 Jan 2016
Re: Hmm... >>SELL84p.....40p target<<BANG ON!!
Honest Herbie
29 Sep 2015
Share price 'over-cooked' Can't quite believe the fall in share price, particularly as the record contract win will obviously boost it's future sales and turnover figures. At the current price level this stock must be rated quite a strong buy.
r21442
15 Sep 2015
IC buy as part of a Zweig screen Pennant International - High YieldTraining, information services and software group Pennant (PEN) is not a company that courts much market attention. Indeed, its results can be a major share price moving event given their habit of reawakening investors to the merits of Pennant's diverse operations, which range from graphic design to producing training simulators. From this perspective, it is worth noting that the company should be releasing half-year numbers at any time. Last year the interims were published on 8 September.Pennant reported encouraging trading at the time of its full-year results in March with good progress being made across its three main divisions. The group also benefited from an upward property revaluation and a favourable tax ruling on its research and development spending. Broker WH Ireland is pencilling in solid growth, with EPS expected to be up 12 per cent this year to 9.6p and 8 per cent in 2016 to 10.2p. That is predicted to underpin a 3.1p dividend this year, rising to 3.3p next year - equivalent to a prospective yield of 4.4 per cent, rising to 4.6 per cent.
Techno Trousers
12 May 2015
Re: Worth a tickle? Same maths, same assessment as you Blanket, so I agree wholeheartedly. Looks to be a tad underpriced. If they achieve 9.6 then a PER of around 9-10 would seem appropriate, so mid 80's to low 90's.
Blanketstacker
12 May 2015
Worth a tickle? PER = 7.3PEG = 0.2Price to book = 2Potential yield = 4%Div cover = x3The company has c15% of its market cap in cash and some valuable freehold assets.Last year's results were flattered by a large tax rebate on R and D activities, while this year has been impacted by a slower first half. However the one EPS estimate I can find (by WHI) still suggest EPS of 9.6p for this year.You can currently buy at just under 71p, marginally above the annual low. Fair value here seems to me to be in high or mid 80s, so there is a potential upside of 20% here.Any views please?
sharegardener
15 Apr 2015
Re: recovering SP r21442 sorry to hear about FTO. ''Executive Chairman of the Board of Pennant International Group plc is a Chartered Accountant and is also chairman of Downing Distribution VCT 1 PLC. He is a Non Executive Director of The Great British Card Company PLC and Severn Glocon Group PLC'' ...from FT company profile.SG
r21442
14 Apr 2015
Re: recovering SP Worthwhile commentary SG. Of course it could also be a smokescreen of apparent good intentions that never materialise. Always wary of companies with such large concert party holdings. Screwed over on FTO this year already.
sharegardener
14 Apr 2015
recovering SP SP is climbing back up from the brief dip to 70p. Ex div on 16th for 2p final.Fortuitously I bought @73.9p on 7th April having watched these for a year or more.The chairman & family own 30% of the shares so free float relatively low. May explain the big movements on small volumes.The annual report mentions 1,400,000 B shares being issued as an incentive for the CEO. These shares only acquire a value if the company is sold above 100p share price with him receiving SP minus 91p per share. (P10 and more detail on P41)'' The B shares only acquire a value if the Company is sold at a price in excess of £1 per share or if the Company is liquidated and there is a capital distribution of more than £1 per share. In both cases they will be entitled to a sum per share equal to the amount paid per ordinary share less 91p per share.''Although AIM shares are free from inheritance tax and the family have been moving shares around in their pension scheme, I wonder if there is any longer term intention to sell up and release value?It seems a little odd to incentivise a CEO with a potential bonus that only comes into being upon the sale of the company!I dont recall having seen this with other companies. As the B shares can only be redeemed above 100p and with 91p per share removed it may be an incentive to get the SP north of 2 quid-ish. Anyone got any views or explanation?Pure speculation on my part on the M&A front; but since Babcock bought Avincis they are expanding military training & simulation. (I also hold BAB) but they are a large international player and unlikely to be interested in such a tiddler.Good luck all, SG
