Hardboy
22 May 2018
Re: FD sells He sold about 10% of his holding, so he's still got a fair holding. Can't be bothered to check what he has had in the way of awards recently, but he may be only re-establishing his core holding.
Muzzletoff
22 May 2018
FD sells and the other shoe has dropped.Not entirely surprising that what is good for the CEO is good for the FD. He has sold much less but has grossed around £140,000 on this sale.I can't say I am surprised. I presume the market readily absorbed these as there is not much liquidity out there.I suppose he had to sell either now before the close period sensitivities come in, but I would like to think if he had sold after results release he may have got a better price?
Muzzletoff
30 Apr 2018
Re: Pushing on Hi valuemanI think I made out the case for discounting a placing. However, there aren't that many profitable acquisitions to be made, and those that are out there tend to be expensive. Buying low profit acquisitions is a model for future low profits usually. Accordingly it seems Tracsis have switched to an mixed 'investment' & acquisition model.A company making £3m profit wants more than £20m (assuming a 7x multiple for earnings) to buy them out, so you end in the more marginally profitable areas, unless you are prepared to whack up the price, or have been lucky enough to discover a gem.Tracsis likes an acquisition model that defers a decent back-end payment subject to results, but if a target business is decently profitable already they won't bite for that. It really only works for quite low profit or entry-level companies, such as the recent acquisition. But these represent more risk.So, if they loose patience with their own criteria for acquiring, it is not impossible that Tracsis may convince themselves that a placing makes sense in order to be able to afford something bigger. I hope they stick to their knitting.
valuemanbuyer
28 Apr 2018
Re: Pushing on Forget a placing - they’ve got £20m in cash . They have only ever raised £4.5m in the early days and turned it into £175m . Small niche acquisitions at good prices ismore Likely .
Muzzletoff
27 Apr 2018
Re: Pushing on Hi HardboyI think that buyers are coming up against a big squeeze on supply of shares. I am guessing that markets markers will run this up so far, and then try to shake out more buyers by making a dramatic price drop at some point, but its a hard grind to get a decent amount of shares going, without really driving up the price.Fulfilling a decent size institutional order must be pretty hard work, if most holders are prepared to sit on their hands, given that Tracsis is in reasonable shape. Even a decent share price wouldn't I think tempt the board to do a placing, in order to allow them go for bigger acquisition targets, whilst also put some extra shares and share liquidity into the market. £8 a share on a 10% placing would still only raise circa £18-20m by my reckoning. So in the meantime the most effective mechanism is to drive the price up, and excite sellers.Any way, I have convinced myself!
Hardboy
27 Apr 2018
Re: Pushing on Nice to see but usually the big rises come after announcements, and the immediate reaction to the interims was relatively muted. No high volumes or institution taking a big stake. I'm guessing somewhere there has been a tip in the press. Long may it continue.
Muzzletoff
27 Apr 2018
Pushing on New high of over £6 reach today. Maybe this could push on to £6.50?Not big volumes though, so vulnerable to a bigger seller, and price crash.
Muzzletoff
23 Apr 2018
Minutes later it goes to £5.79! NM nm
Muzzletoff
23 Apr 2018
Trying to get back its old high of £5.8, but there's always a bit of a sell off after a price rally, so I suspect this is mainly Market makers trying to fill buy orders, by shaking the price. But what do I know?!Pretty hard to make short-term trading profits in Tracsis given the price spread and low liquidity.Stockopedia has its PE ratio at about 22x future earnings, so reasonably average for a tech company, which so far has managed to avoid a formal profits warning.I can see this heading up to £5.8, on a slow grind basis. However, unless an interesting contract arrangement is announced, or an earnings enhancing deal is mooted, suspect it will not push past £6 for a while. I would Love to be proved wrong though!
Muzzletoff
10 Apr 2018
Re: Moving nicely In the ideal world the Company should tell us why they have changed advisor, so that it is transparent.As you say Hardboy, sometimes they believe there is more 'prestige' attached to a particular NOMDAD/broker. But in real terms that usually means greater exposure to bigger institutional investor reach, or perhaps there is perceived to be stronger analyst coverage.Of course people move on in brokerages, and that may mean less personal connection/attachment to a broker. Sometimes, given the fees that are paid, Companies may not feel they get the 'love' they deserve, particularly at CEO level. Can be ego driven.But I think the Tracsis team are fairly sensible, and level-headed (so far), so hopefully good motives are behind it.
Hardboy
09 Apr 2018
Re: Moving nicely A nice steady rise in the run up to the interims, and since then a gradual inching forward. Presumably any brokers or commentators may have upped their target price in the wake of the interims. Of course it could just be Income hunters buying in for the HUGE interim dividend. I'm always a bit uneasy when companies, especially AIM stocks change advisers. Often with young companies it is purely just upping the status to more respected advisers; but occasionally it's due to them getting a little too close to the family skeletons. Once bitten and all that. But from all the known knowns I've more than happy with the direction it's going.
Muzzletoff
09 Apr 2018
Moving nicely Share price seems to be making a lurch upwards. Still not at the old heights of circa £5.8 but creeping up over time, with some decent volume today.Notice that the company has changed adviser today. No doubt they are hoping that it will bring new institutions in, or help widen its base of shareholders.Would be nice to get some more updated contract news to move it along further, which is what excites private investors who usually move the dial on the share price on a daily basis
Muzzletoff
12 Mar 2018
Large Drop This is a pretty illiquid share, often reflected in the price spread.It could be that the market maker is trying to shake the tree to induce a few sellers to panic and sell out, to give him some stock for his book, or if he has got a buyer at certain prices.Pure guesswork on my part, given the recently positive trading statement. CEO share sales never help of course.
Hardboy
09 Mar 2018
Large drop Today on v small volume and no news. Any suggestions?
Muzzletoff
23 Feb 2018
Re: McArthur Sells No-one likes to see Director sells, and it is almost impossible if you are an executive in an acquisitive outfit to sell at reasonable time, as you have two close periods per year ( interim, and final accounts announcements) plus the financial sensitivity which prevents you around acquisitions.But only the CEO is selling which is a bit odd, and something he has never been commented on to my knowledge (he sold a tranche about two years ago).Will the FD be next?Its always a bit unnerving. Looks like he's made about £500,000 on this sale. Nice bit of padding for his personal bank account.Makes the positive trading statement as a bit of a counter-balance, more understandable.
