Cenkos Securities Share Discussion Threads

[salpara111] 12/4/2016 12:45

Well, when you strip out the regulatory capital they hold the enterprise value is about £26M so little value is being ascribed to the business.

[keith95] 12/4/2016 12:19

.... shares are being sold late morning .. a few nominal buys later on in the day .... on a regular basis now .. smells of shorting activity.

I've got enough and will wait for the rally before buying more :)

[jbat] 12/4/2016 12:03

Thanks Gary. The effect of sentiment on this is just plain silly. What people are basically doing is dumping a profitable company that has historically paid a double digit dividend yield because they're spooked at a bit of non-specific bad news. If Cenkos ends up declaring a whopper of a deal in H2 and a 15p final dividend then we'll be back to euphoria again and the share price will probably double, but it's all still the same company. Even if the news is mediocre, we're still probably looking at a dividend of at least 5%.

I shall be loading up while these are cheap.

[keith95] 12/4/2016 07:43

imranawan - This share has exceedingly small trading volumes as the norm .. so when you see ~100K of shares pass through the order book as happened on last friday afternoon at an intra-day low it is not unreasonable to ask who has been dumping shares ....

.... someone who needs the money, wants to invest elsewhere .... close a short .. who knows.

[garycook] 12/4/2016 03:35

Fair comment Jbat,totally agree.

[keith2006] 11/4/2016 12:38

Without being too negative this looks to a death of a thousand cuts, have we not had 2 share buybacks also some cash in the bank, is the business worth so little
Keep our spirits speedsgh find some good news because the company does not seem to be coming to the rescue

[speedsgh] 11/4/2016 09:28

GARY - I would expect div payments to revert to their usual schedule (i.e. interim payable Nov, final payable May) now that the govt's tax changes have come into force. The 2nd interim payment in March this yr merely brought forward payment of the majority of the final payment in order to help shareholders (of which Cenkos directors/PDMRs form a significant part) to avoid the negative tax changes which came into force on 6 April. Aimho.

[imranawan] 10/4/2016 19:21

keith95 - where did you see that shorts were closing. I've checked the Shorttracker website and can't see any funds are short of Cenkos?

[garycook] 10/4/2016 04:01

Does anyone think there could be another Dividend issued,in the second half of the year around October as per previous years,or will there be one issued earlier as we were Apr/Oct ? Also has anyone calculated the full year Dividend for the next 12 Months ? It was 17p for 2014/15 now 14p for 2015/16 and for 2016/17,will depend on results.

[keith95] 09/4/2016 12:05

Agreed Gary ... largish trades late yesterday suggestive of shorts closing ... but maybe not ...

... I wonder what numpty takes the trouble to down rate a couple of innocuous posts ;)

[keith95] 08/4/2016 14:27

Grabbed my last bunch at 119.15 this morning.

GLA :)

[keith95] 06/4/2016 10:44

.... wait and buy (more) ;)

[jbat] 05/4/2016 09:41

Sounds like cheap shares - what's not to like? Buy and hold, as long as you don't overpay for them. They either get consolidated if a merger happens, or they are the ones doing the consolidating.

Declining fees is a bummer, but I don't see anybody going bust, so let's keep some perspective.

[robsy2] 01/4/2016 10:48

sounds like a sell message.I'm out.
R2

[speedsgh] 01/4/2016 10:43

Sounds like a recipe for consolidation then.

[quepassa] 01/4/2016 10:37

Panmure came out with some poor figures yesterday.

The Lex column on page 14 of today's FT makes some salutary reading about the sector and talks of perhaps too many brokers chasing the available business.

Quote

" .... and it is hard for any of them to grow when so many of them are around. A partial list: Panmure Gordon, Numis, Cenkos, Zeus Capital, Liberum, Shore Capital. Peel Hunt. Some £5.4bn was raised ointhe small-cap Alternative Investment in 2015, equating to a banking fee pool ( at a very rough estimate) of under £200m. That is not enough to go around at a time when broking margins are declining."

Unquote


The sector in my opinion is distinctly ex-growth and with too much competition at this point in the economic cycle.



ALL IMO. DYOR.
QP

[speedsgh] 01/4/2016 10:15

Loss of mandate. Cenkos being replaced as Nomad to Kennedy Ventures (KENV) by Grant Thornton. Cenkos were previously also joint broker alongside Shore Capital; no mention in rns on change of broker so assume they retain that position for now.

Change of Nominated Adviser -

[speedsgh] 01/4/2016 10:08

Cenkos conducting £3.2m placing for Medaphor Group (MED)...

Placing to raise £3.2 million -

[speedsgh] 31/3/2016 11:49

New mandate. Cenkos have been appointed as Corporate Broker to Salt Lake Potash Limited...

Completion of Placement and Appointment of Broker -

"Salt Lake Potash Limited also advises that it has appointed Cenkos Securities plc as its Broker with immediate effect."

[speedsgh] 31/3/2016 11:42

Gary - yes, 14/133 = 10.5%. However that yield is now largely historical (1p final payment goes XD on 28/4). The market is presumably looking forward + predicting that Cenkos will not be able to match 14p in the current FY.

[garycook] 31/3/2016 11:31

Coming off 125 Low.A few buyers.Can someone confirm the present Yield at 133 to Buy,with a 14p full year Dividend.I make it 10.52% Yield.Hargreaves Lansdown showing 6% ?

[speedsgh] 31/3/2016 11:21

imran - Yes. Have reduced by c50% over past 12 months but currently happy to hold for the long term. Management have considerable skin in the game so am guessing that they will be keen to continue distributions where funds permit, although I fully expect these to vary considerably depending on where they are in the market cycle. Unrealistic to expect a progressive dividend policy in such a cyclical sector imo.

[jbat] 31/3/2016 11:19

I tend to think that people are getting all lathered up over nothing here. Yes, the earnings for CNKS are very intermittent, but the fact that the overall market is not rotten, as proven by the NUM update, suggests that we should just sit tight and wait to see what comes of CNKS.

It's a good business, and the shares are cheap - what's the problem? Buy more!