Frp Advisory Share Discussion Threads

[buffetteer] 06/10/2016 08:13

The market is pricing them for a life expectancy of less than 5 years - really ?
The issue is the nasty surprises they keep dumping on us . Seems the business they're in a volatile and not predictable ( soft conveyancing,personal injury new regs) . That's my main problem How can you trust any forecasts ? That's my issue . The management have little skin in the game but seem honest and competent.If I could believe them I would pile in . I'll see if they buy lots of shares themselves first.

[hybrasil] 05/10/2016 08:15

As a lawyer I looked back through their acquisitions. In my book they paid a crazy price. Wafer thin profit margins for a law firm. Remember law firms are a people business and people can move.Yes its not a bad business model. Value at about 30p

[bench2] 04/10/2016 17:31

In freefall on a strong day in the market . Is the remaining business this bad ?

[value hound] 04/10/2016 16:36

crazily good value imo.

[az4hr] 04/10/2016 10:48

6.5% on 50k volume go figure

[carcosa] 04/10/2016 08:14

It's the future impairments that are of concern. However, now that people are selling out at a low (recently historical) share price and mentioning so on BB's then perhaps that's a buy indication ;-)

[az4hr] 03/10/2016 21:14

Even at 10p eps it's on a pe of less than 8

[gostevie63] 29/9/2016 09:26

I sold out this morning. Good luck to all who continue to hold.

[buffetteer] 29/9/2016 09:13

If you believe they will achieve 13.7p earnings this year then they're trading on less than 6x . Clearly the market doesn't trust/ believe this company. However, we do know that the legal business is pretty steady,has some unique value in its low cost process ability , debt will fall as IVA receipts come in and the cash generative legal business pays off the debt . As Buffett always says you make money when you buy and now seems a good time as no- one else is . I reckon it's at least 50% undervalued and we will see it rise as the debt reduces and the legal business becomes the only subsidiary.

[qvg] 29/9/2016 06:35

topvest,
"If Simon Thompson says sell why do people react"
i would ask how should people react? i sometimes think his Sell recommendations are a good Buy signal. they tend to identify the point of maximum pessimism

[imranawan] 28/9/2016 21:24

I know what you mean Gostevie, but I don't see the logic in selling out once it goes xd, as the share price will drop by the amount of the interim divi. If you were going to sell out I would have done so sooner.

[topvest] 28/9/2016 20:29

If Simon Thompson says sell why do people react. He seems to get quite a few companies totally wrong.

[gostevie63] 28/9/2016 15:16

Still holding but quite tempted to get out after they go xd tomorrow. There is still value here IMHO but how long will it take to come out?

[qvg] 28/9/2016 14:48

holding - yes, buying too

[imranawan] 28/9/2016 13:47

Is anyone still holding? Price grinding down slowly but surely.

Is there a timelimit for issuing RNSs re: Directors shareholding/dealing. For example the purchase was made on the 16th September, which was 12 days ago.

[speedsgh] 28/9/2016 13:24

They have now also notified the purchase of 1,117 shares at 99.85p on 16/9 by Mark Fuller, Managing Director of Clear Start Partnerships Limited, a wholly owned subsidiary of Fairpoint Group Plc.

Notification of Transactions of Directors / Persons Discharging Managerial Responsibility and Connected Persons -

Chicken feed but he would have been better off waiting all the same!

[speedsgh] 28/9/2016 11:26

Spouse of Peter Watson, Managing Director of Simpson Millar LLP, a wholly owned subsidiary of Fairpoint Group Plc, has sold 13,889 shares at 89.4p.

Notification of Transactions of Directors / Persons Discharging Managerial Responsibility and Connected Persons -

Whilst not the largest amount, it's certainly not the best vote of confidence in view of where the share price currently languishes! Would expect notification rns from larger instis in due course as would seem to be a large seller in the background continually forcing the price down.

[gostevie63] 20/9/2016 13:42

Webinar video available here:

hxxps://www.equitydevelopment.co.uk/index.php?p=videoshow&v=1532

[joan of arc] 19/9/2016 15:20

mctmct, they sound absolutely diabolical. How come none of the investors have picked up on this here and grilled them at an AGM. Maybe they are losing conveyancing business due to their utter incompetence and not due to Brexit excuses.

And to think I was just on the point of buying some of these!

[gostevie63] 19/9/2016 14:25

I topped up on these. A 10% fall on the base of a Simon Thompson downgrade seems very overdone to me.

[mctmct] 19/9/2016 14:08

Nothing negative in the webinar, but online reviews here hxxp://www.solicitor.info/solicitors/simpson-millar-llp/1645/1 are poor.

[speedsgh] 19/9/2016 13:46

Simon Thompson previously (27/7/16) had a HOLD recommendation on Fairpoint. He has released an update today moving to a SELL recommendation. He concludes:

"The issue now is that Fairpoint's legal services business is suffering from lower conveyancing volumes post the EU Referendum, a segment of the business which accounts for 6 per cent of its turnover. Given the impact of this lost revenue on the bottom line house broker Shore Capital has cut its full-year adjusted pre-tax profit estimates by 12 per cent to £8m, down from £10.5m in 2015. True, an annual payout of 6.8p is covered two times over by downgraded adjusted EPS estimates of 13.6p and Fairpoint has £8.6m of headroom on debt facilities, so the dividend looks safe. However, I just can't see a catalyst to spark a higher rating and upside looks limited. Panmure cut its target price from 130p to 115p. Sell."

The release of his update is doubtless the trigger for today's sell off. How much it will recover once the supply of lemmings has been exhausted is anyone's guess but will probably depend on any additional info that may be provided during this pm's webinar. Investor confidence appears shot on FRP at present + is liable to remain so until the next scheduled trading update which isn't until Jan.

The brave can of course lock into a 7.5% yield at the current 91p offer.

[imranawan] 19/9/2016 13:36

Can anyone summarise his reasons for selling £FRP. Would be interested to learn of the reasons as historically he's been quite positive.

[sportbilly1976] 19/9/2016 13:26

I've not seen the article from Simon, but a quick Google seems to indicate he has historically been positive on the stock...

[spob] 19/9/2016 13:06

SELL SELL SELL !