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TIG Team Internet Group Plc

135.80
-0.60 (-0.44%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Team Internet Group Plc LSE:TIG London Ordinary Share GB00BCCW4X83 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.60 -0.44% 135.80 243,308 16:35:17
Bid Price Offer Price High Price Low Price Open Price
135.40 136.00 141.80 134.00 141.80
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Business Consulting Svcs,nec USD 728.24M USD -2.08M USD -0.0076 -178.16 369.16M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:46:06 O 10,280 136.121 GBX

Team Internet (TIG) Latest News

Team Internet (TIG) Discussions and Chat

Team Internet Forums and Chat

Date Time Title Posts
26/4/202416:25Team Internet Group366
05/12/201509:27The all new Innnovation Group Thread (with charts and dancing girls)1,674
08/5/201314:55Innovation Group - 1p soon??30
01/5/201313:45RED HOT BUY - (TIG) - INNOVATION GROUP5,189
08/5/200522:57DOWN 70% Is this worth buying?40

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Team Internet (TIG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
16:46:06136.1210,28013,993.24O
16:46:06135.61502680.78O
16:39:40135.513,4594,687.43O
16:20:35135.4011.35O
16:12:55135.807,53710,235.17O

Team Internet (TIG) Top Chat Posts

Top Posts
Posted at 26/4/2024 09:20 by Team Internet Daily Update
Team Internet Group Plc is listed in the Business Consulting Svcs,nec sector of the London Stock Exchange with ticker TIG. The last closing price for Team Internet was 136.40p.
Team Internet currently has 272,645,318 shares in issue. The market capitalisation of Team Internet is £369,707,051.
Team Internet has a price to earnings ratio (PE ratio) of -178.42.
This morning TIG shares opened at 141.80p
Posted at 21/3/2024 13:31 by rivaldo
TIG restarted the buybacks last year when the share price was around 111p. This hasn't stopped the share price advancing to the current 138p.

If there's an institutional buyer or two out there, and/or any material sellers run out of stock - as is hopefully now happening - then the share price will continue to climb, with or without buybacks. And of course news flow will further determine the course of the share price.
Posted at 20/3/2024 17:58 by davebowler
Master Investor-Team Internet Group (LON:TIG) – Back On The M&A TrailJust under 500,000 shares still left to be bought back, is my back of the envelope computation – which would take only another week or so before completion.On Monday morning the global internet company declared its results for its year to end December 2023.They showed revenues up at $836.9m ($728.2m), adjusted EBITDA was 12% better at $96.4m ($86.0m), generating a 32% improvement in earnings at 23.22c (17.56c) and enabling the 'hefty' doubling of the final dividend to 2.0c (1.0c) per share.Disappointingly, the group's net debt was 31% higher at $74.1m ($56.6m), which was after several different payments including the $39.7m cash spent by the end of 2023 on share buybacks.Analysts Bob Liao and Carl Smith are obviously impressed by these record results, stating that in their view –"The company's strong track record, cash generation and growth opportunities, both organic and inorganic, are not reflected in its 4.8 times 2024 EV/EBITDA multiple."They look for $868.9m revenues this year and $98.3m adjusted EBITDA, taking earnings up to 25.4c per share.For the 2025 year they see $921.2m revenues, adjusted EBITDA of $104.5m, lifting earnings to 27.3c per share.Max Hayes a Edison Investment Research is looking for $103.0m adjusted EBITDA this year and $106.1m next year, lifting earnings up to 25.8c then 27.1c respectively.Following the latest acquisition Hayes, reckons that its benefits combined with continued operationally geared organic growth, could help to drive the stock's upside.Apparently, the market was none too impressed with the group's performance, after hitting a high for the day at 138.71p before knocking the shares down 11.40p to 125.20p, they closed that day at 134.80p, off only 1.60p on the day.However, yesterday the group came out with the bolt-on acquisition of the Shinez I.O. online marketing business for an initial $42m consideration, being paid for out of cash reserves and revolving credit.Last night, perhaps hardly reflecting the market's view of the latest acquisition, the shares closed at 135.40p.Hold tight, hoping for market stock and share price appreciation
Posted at 29/1/2024 12:35 by rivaldo
Most of the buybacks have been transacted at anywhere from 114p to the 120p's from memory, with some in the low 130p's and a few at the start in the 150p's. So overall this can be deemed to have been a winning strategy at the current share price, particularly as the odds are for the share price to advance nicely from here given the trading ahead of expectations once again.

Edison have now issued a new note, and make some interesting points:

(1) They "see scope for upside, particularly in Online Marketing, where we believe that click or revenue per 1,000 session rates are starting to stabilise while volumes continue to grow"

(2) Major events such as the upcoming US presidential election could drive advertising spend and upside to our forecasts"

(3) Team Internet reports launching more products than ever before and signing up a record number of new demand and supply side partners during FY23, which should also support growth"

They summarise:

"29 January 2024

Team Internet’s FY23 trading update confirmed that trading has remained robust with double-digit sales growth across Online Marketing and Online Presence. The total revenue and EBITDA margin were slightly ahead of market consensus and our forecasts, both of which were upgraded in November 2023. Estimated FY23 net debt of US$74m was lower than our US$80.9m forecast, with operating cash conversion reverting to close to 100%. We maintain our FY24 estimates, but these could prove
conservative, especially if advertising spend recovers. At 4.8x FY24e EV/EBITDA and 6.4x FY24e P/E, Team Internet's rating looks low given the company’s growth profile, diversity and growing track record."
Posted at 29/1/2024 10:17 by adamb1978
Redwing

So much to disagree with there:

"One thing I don't like is use of the cashflow to buy back shares....The market had already expressed its dislike of their high levels of debt"

How do you know what 'the market' disliked? Did the market tell you?


"Instead they go down the route of trying to prop up the share price with a huge share buyback (and look how well that worked!)"

How do you know where the share price would have been without the buyback? What we do know is that without the buy back there wouldnt have been one very large buyer in the market for the last year, so the balance of sellers/buyers different and would have meant a lower share price


"The fact that they didn't makes me suspicious."

Can you comment on what you think they are buying shares back with if they're not generating cash?


Adam
Posted at 28/1/2024 10:57 by adamb1978
As posted before, with any share there will a certain % of the register which will sell at different price levels, though its obviously impossible to know what that is. Therefore the recent firming of the price reflects the consistent buying back of shares and at some point you need to pay a higher price. THe day after day buying of shares by the company eventually exhausts the volume of wiling sellers.

So to the question about, yes I think another large buyback will force the price higher. You could argue that, similar to what we've seen recently, the share price would go higher gradually though relentless buying of shares, or perhaps it could be quicker if the typical investor sees another, say, £30m buyback announced and says ok, now with that new buyback my view of fair value is [x]% higher.

Only question about another large programme is that will need shareholder approval if they've exhausted the current authority. AGM might not be til April, in which case they could announce their intention to do another buyback, but wouldnt be able to begin it til the AGM (unless they snuck another general meeting in before)
Posted at 18/1/2024 18:05 by tole
https://masterinvestor.co.uk/equities/is-the-price-decline-about-to-stop/Is The Price Decline About To Stop?By Mark Watson-Mitchell 18 January 2024 7 mins. to readIs The Price Decline About To Stop?Considering its massive store of recurring revenues, its global services on offer and its incredible potential, Team Internet Group (LON:TIG) has been a dismal performer over the last year. This time last year the group's shares were trading at around 155p, since when they have been down to as low as 112p. Today they are fractionally better at 124.60p – but could they be offering an excellent upside, especially if you follow the dealings of 'insiders' in the group's equity. The Business The group creates meaningful and successful connections from businesses to domains, brands to consumers, publishers to advertisers, enabling everyone to realise their digital ambitions. It is a leading global internet solutions company that operates in two highly attractive markets: high-growth digital advertising (Online Marketing segment) and domain name management solutions (Online Presence segment). The company's Online Marketing segment creates privacy-safe and AI-generated online consumer journeys that convert general interest online media users into confident high conviction consumers through advertorial and review websites. The Online Presence segment is a critical constituent of the global online presence and productivity tool ecosystem, where the company serves as the primary distribution channel for a wide range of digital products. The company's high-quality earnings come from subscription recurring revenues in the Online Presence segment and revenue share on rolling utility-style contracts in the Online Marketing segment. Sales By Business And Region In the group's 2022 trading year it turned over $728.2m. The Online Marketing side was some 78.9% of the total, while Online Presence represented 21.1%. Europe accounted for 83.5% of the total, North America 9.0%, Rest of the World was 6.5%, while the UK was just 1.0%. Share Buybacks Not Helpful On 30th December 2022 it commenced its first £4m Share Buyback programme, for a maximum 28,866,000 shares, or 10% of the equity. That spend was completed on 18th January last year. On 15th May it announced another £4m programme: "The Board considers the Buyback Programme to be in the best interests of all shareholders, given the cash generative nature of the business and the performance at least in line with current market expectations. It reflects the Group's renewed capital allocation policy geared towards greater returns to shareholders." On 3rd July the group announced a material £30m increase to that second programme, since when the company has been spending around £100,000 a day on buying its stock back, for either being cancelled or being held in 'Treasury' to be used for any future acquisition. It is now close to completing that increased 'Share Buyback Programme' – which has actually enriched no-one other than the brokers handling the business each day. As of yesterday morning, it is noted that the group had repurchased a total of 23,279,377 of its shares. Compared to a previous average dealing volume of around 400,000 shares being transacted daily, there now seems to be a sudden build-up of interest in the company. In the first twelve trading days of this month some 9,983,149 shares changed hands. Perhaps we should now be paying the group some attention. Trading Update Due Before The End Of The Month This international internet solutions company, which rebranded itself from CentralNic last September, is due to be announcing on Monday 29th January a 'comprehensive' Trading Update covering its 2023 financial year. Already TIG is clearly stating that the Update will feature its record performance in the final quarter of last year and for the full year too. Brokers' View Analysts Bob Liao and Carl Smith at Zeus Capital consider that the group is capable of 'outperformance' following a good final quarter. Their estimates are for revenues for the year to end December 2023 to have grown from $728.2m to $825.3m, lifting adjusted pre-tax profits to $79.2m ($70.0m) and earnings up to 21.3c (20.0c) per share. For the year now underway they look for $868.9m turnover, $84.7m profits and 25.1c in earnings per share. In an early October Tech Sector Review, analyst Michael Hill at Cavendish Capital had a 350p Price Objective on the shares, looking for the group's strong growth to be powered by its Online Marketing business. His estimates for 2023 were for $815.3m revenues, $79.8m profits and 22.4c per share in earnings. For this year he goes for $888.8m revenues, $91.1m profits and 24.4c per share in earnings. Over at Edison Investment Research, analyst Max Hayes has put out estimates that the group in 2023 will have turned over $833.7m, with profits of $80.7m, and earnings of 21.1c per share. For the current year his figures indicate $909.6m sale, $89.3m profits and earnings of 24.7c per share. Edison considers that the rating of the group's shares does not fully reflect the impact of the share buybacks and its growth prospects. Max Risk PlaysFormer army officer and stockbroker, Max Royde has been back into the market again this year, picking up TIG stock. 51-year-old Royde, who established Kestrel Investment Partners with Oliver Scott way back in 2009, was previously a Managing Director at brokers Peel Hunt, where he focussed upon the Technology sector. Kestrel is a very interesting business in itself.Together with their colleagues, Scott and Royde source the best investment ideas and structure the most suitable vehicles for new investments, whilst also driving the strategic improvement at investee companies, both as a minority investor and board member. Kestrel aims to achieve long-term capital appreciation by investing in a concentrated portfolio of quoted small and micro-cap companies. Each of its core investment holdings meet strict investment criteria. The strategy is to identify, access and invest in companies that are undervalued and offer significant growth potential. It then works closely with management teams to unlock latent value and deliver long-term capital growth and liquidity. Royde, who was a director of Gresham Technologies and Aferian, holds a number of board positions, including IQGeo Group which on Monday of this week guided results ahead of expectations, with its shares soaring in response. Back Into The Market, Follow The 'Insiders' After a near two-month break in its dealing activity, on behalf of discretionary client accounts, Kestrel Partners has this month acquired more shares. Kestrel Opportunities, in which Royde has a beneficial interest, now holds 17,926,535 shares in TIG. Together with the 48,876,324 shares that Kestrel clients hold in the internet company, that adds up to a significant stake of 66,802,859 shares, representing 25.12% of its equity. Oh, and by the way, since 2021 Max Royde has also been a non-executive director of Team Internet Group, so we should perhaps pay attention to his market movements, especially ahead of the Trading Update at the end of this month. The Equity There are around 265,380,707 shares in issue, apart from those 23,279,377 shares held in Treasury. Amongst the larger holders Kestrel Partners is the biggest (25.12%), while others include Inter.services (12.01%), Slate Investments (9.54%), Erin Invest & Finance (5.20%), Chelverton Asset Management ((4.60%), Schroder Investment Management (4.28%), Maitland Asset Management (4.26%), CentralNic Employee Benefit Trust (4.23%), JTC (Private Banking) (3.81%) and Herald Investment Management (2.79%). My View – Setting A New Target Price For The Shares Yes, I have been really disappointed with this 'money machine' and its share price performance over the last year but I have not, yet, given up hope that it will recover its upward path. As for the reason of the share buyback programmes, as a way to give greater returns to group shareholders – well I have not seen any evidence of that happening over the last year, especially with the shares being down 28% at one stage and off over 19% in that time frame and still no dividend from the cash generative business. The shares closed last night at 124.60p, at which level the company is valued at £331m. Trading on a mere 6.82 times estimated historic and on just a multiple of 5.79 for current year earnings, these shares represent an excellent participant in any growth 'undervalue' portfolio. The 'comprehensive' Trading Update on Monday 29th January could well prove a significant turning point for the group's shares, which hopefully will see the market giving it a far, far better rating. In the hope that good news could be forthcoming, I am now setting a new Target Price for the shares of 156p in 2024, while having a certain confidence that a major re-rating could help to boost them to well over the 200p level before the year is out.
Posted at 16/1/2024 12:58 by 1watty
About 6 months' ago on the CNIC BB, it was mentioned that there was a large seller and it was felt that the seller held 30+m shares at the time. I seem to recall that it was said that the seller was intending to withdraw all his shareholding over a period of time for another business venture. Since that time there seem to have been many withdrawals at any price holding the share price down. Obviously, I do not know if the withdrawals have been made by the seller referred to nor do I know how many shares the seller has now or what his future intentions are which I feel, might be having some inpact on the share price.
Posted at 04/1/2024 18:50 by adamb1978
Hi Boadica

I believe it was TIG which said on an investor call last year that they were seeing selling from a couple core institutions as a result of them performing well but other small cap holdings falling, meaning that the fund became too overweight in TIG.

So perversely, performing well relative to the market meant their shareholders had to lighten up a bit.

Very content with my TIG holding. They're throwing off cash and have stopped frittering it, so that should feed through to a higher share price at some point.

Adam
Posted at 13/11/2023 09:41 by ggrantsu
This was unfortunately predictable off the back of these numbers...good numbers but much slower growth vs. last year when the share price would still sell off.

As I mentioned a few weeks back...clear market perception issues about what the business does. Feel vindicated in that view given the share price performance of other cylical advertising/technology focused names I am heavily invested in e.g. Future + Next 15...these share prices have rallied and rallied hard off the back of a slight bear market bounce. However...TIG simply has not followed that, even in by an inch. Yet they have posted some very impressive numbers on the face of it today...I commend the team...OP performance was astounding...20% organic growth. Reminds me a little of Future in terms of SOTP argument, Future have GoCompare (worth at least 20x vs. group multiple of 6x)...OP for TIG is clearly worth a much higher multiple vs. OM.

All one can do is sit it out and wait for a potential bid I think here...struggle to envisage the market awarding this a much higher multiple.
Posted at 25/10/2023 07:54 by adamb1978
Crikey ggrantsu!

Your posts are usually quite balanced and unemotional...the ones in the last day or two make me think someone has nicked your advfn log-in!!!

"the market already knows the upcoming results should be fine, while the company buys back a considerable amount of stock...that tells you that there is a wider lack of interest in this company because of fundamental risks with the business."

There' a wide lack of interest in small-caps as an asset class as a whole! If you think TIG's share price has performed poorly, have a look at the rest of the market!

Your closing comment in the above part doesnt flow - you're taking an effect (weak share price) and making up a cause (risks) despite not being able to link one with the other. I repeat what I said above: the market is very weak at the moment - TIG's share price is doing well on a relative basis.

"am slightly confounded to the lack of 1) Michael buying and 2) the sudden ceasing of Max Royde buying. Bit odd but I'm not convinced its suspicious...just an observation."

Riedl owns about 2m shares plus has another 1.5m options - think he's quite nicely incentivised to get the share price up

Royde is the investment director at Kestrel as you well know. Its perfectly possible taht the rest of their fund is underwater given they invest in small-caps and tech and therefore that they can't commit more capital to TIG (they'll have rules which they need to stick to re exposure to any one company) - need to consider the bigger picture!!
Team Internet share price data is direct from the London Stock Exchange

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