||EPS - Basic
||Market Cap (m)
|Arden Partners Daily Update: Arden Partners is listed in the General Financial sector of the London Stock Exchange with ticker ARDN. The last closing price for Arden Partners was 32.50p.|
Arden Partners has a 4 week average price of 31.25p and a 12 week average price of 27.97p.
The 1 year high share price is 41.50p while the 1 year low share price is currently 20.50p.
There are currently 20,272,959 shares in issue and the average daily traded volume is 2,695 shares. The market capitalisation of Arden Partners is £6,588,711.68.
|profdoc: I'm fairly new to this company, but I spent some time analysing it, following which I wrote a 4,000 word report. Obviously I cannot post the whole thing here, but I would appreciate your views on the first section - is there anything I've missed?:
Arden Partners, a stockbroking firm hailing from the Midlands, has a market capitalisation of £8.1m (share price 42.2p) but a net current asset value, NCAV, of £8.86m.
It has £5.90m in cash, plus a bunch of shares it holds allowing it to act as market maker; these had a market value of £1.66m in April. So taking cash and easily marketable securities together we have £7.56m.
On top of that are “Available for sale investments” of £0.51m which are longer-term holdings of securities and a “corporation tax asset” of £0.25m.
Total liabilities are £4.21m, but the vast majority of this is “market payables”. That is, in its division which buys and sells shares for institutional investment funds, it has purchased securities and therefore has a legal obligation to settle the transactions (pay for them), but at the accounting date (30th April 2015) it has not yet done so.
However, it has also entered into transactions just before the half-year end in which it sold shares and is awaiting payment from the buyers.
Information on the amount outstanding for these “market receivables” at 30th April 2015 is not available, but I can see that “Trade and other receivables” are £4.75m, I can also see that over the past five years “market receivables” generally account for 80% – 90% of these.
Thus it is reasonable to conclude that share transactions Arden has not yet paid for (the bulk of its liabilities) are offset by share transaction other people have not paid Arden for. Thus the liability amount shown on the BS is, in rough terms, wiped out.
So, to all intents and purposes Arden has liquid assets (after deducting all liabilities) about the same as its MCap.
I’ll look at the balance sheet in a later Newsletter (http://newsletters.advfn.com/deepvalueshares). First, I’d better explain what the company does.|
|clocktower: The share price seems to have slumped since my last post on this thread.
It could be that certain investors are concerned that ther board of arden could recommend de-listing, as has occured at WTV.|
Arden Partners share price data is direct from the London Stock Exchange