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Share Name | Share Symbol | Market | Stock Type |
---|---|---|---|
Game Digital Plc | GMD | London | Ordinary Share |
Open Price | Low Price | High Price | Close Price | Previous Close |
---|---|---|---|---|
29.75 | 29.75 |
Top Posts |
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Posted at 05/6/2019 17:45 by site manager I don`t see MA getting this for 30p.It`s a smart move from him as a way to increase his stake at a cheap price. I guess we will have to wait and see what GMD management have to say. |
Posted at 18/4/2019 12:27 by john henry Imho MA will acquire GMD for around 40-45p |
Posted at 27/3/2019 20:31 by cf456 Cash and cash equivalents £95.5m, nearly 2x the £50m mcap.He'll have to bid much higher than the current price. |
Posted at 17/1/2019 11:44 by spob I notice the Church House Deep Value fund has been building a stake here.Personally I do not consider this a worthy deep value investment. This company trades at around half tangible book value. However it holds £78m in inventory. If you mark that down by 50% the discount disappears. The company loses money and does not pay a dividend. Surely this is more of a punt than an investment. |
Posted at 05/1/2019 11:23 by hugepants GMD look interesting at 22p |
Posted at 11/9/2018 17:28 by supercity Let's hope it starts to realize it's true valueGAME Digital PLC11 September 2018London, UK, 11 September 2018Edison issues outlook on Game Digital (GMD)Even as Game Digital (GMD) faces short-term trading pressure, its developing BELONG gaming arena concept is arguably part of the answer of what to do with the UK's high streets and shopping centres. The first BELONG sites under the February 2018 agreement with Sports Direct are now opening. With GMD's share price still less than net cash of 32p, neither the existing business, which currently contributes GBP10m of EBITDA, nor BELONG which we value at 23p, are attributed any value by the market. Our total valuation is 75p.GMD trades at a discount to its net cash of 32p per share. We value the shares on three metrics: peer comparison, DCF and sum of the parts (SOTP). Our peer valuation of 93p is an average between US operator GameStop, whose valuation points to a GMD value of 59p, and UK special interest operators, indicating 126p. Our DCF valuation using a high 15% WACC is 61p. Our SOTP metric adds the BELONG roll-out valued as a project, net cash and the existing business conservatively treated as a perpetuity at 30%, totalling 71p. Our blended valuation between these three metrics is 75p (previously 74p). However, we note that our SOTP indicates that BELONG and cash alone are worth 55p per share. |
Posted at 10/8/2018 17:25 by paulypilot Mike Ashley has loads of under-utilised space in the newly-acquired House of Fraser stores - especially on upper floors, where space is very cheaply rented. So that seems to me an ideal space to sublet cheaply to the BELONG JV between Sports Direct and GMD.PP. |
Posted at 10/8/2018 10:54 by daburd Yesterday GMD broke through the first of four resistance points. It is now close to the second which is at 32.95. Let's see if and when that occurs. |
Posted at 10/5/2018 08:13 by zoolook michaeljames1These recent reports give useful background: hxxps://www.stockope hxxps://www.stockope |
Posted at 11/1/2018 10:11 by gersemi Edited version:Game Digital Good seasonal trading 11 January 2018 | Retail, Game Digital, Update Game Digital (GMD) has posted good sales growth over its first 23 weeks and even better results over the Christmas peak. While sales have been led by hardware, management is confident of covering any mix issue through cost savings, and we retain our forecast. With net cash at 35p, the market is valuing this business at 3.5x FY18e EBITDA, which looks misplaced. 23-week trading update Retail 11 January 2018 Price 60.40p Market cap £103m Net cash* (£m) at end July 2017 *Adjusted for £17.1m completion proceeds of Multiplay Digital disposal 59.7 Shares in issue 170.9m Free float 25% Business description Game Digital is the leading omni-channel specialist retailer of video games in the UK and Spain, with 304 stores in the UK, 268 stores in Spain and over 30% market share. Next events Interim results 27 March 2018 Strong headline trading for 23 weeks Group GTV for the 9.5-week peak trading period (1 November to 6 January) was up by 5.2%, and for the full 23-week period 3.8%. That is a good result in the context of the current retail landscape, and consistent with our forecast GTV growth total for FY18. It also indicates that trading was strong for the period as a whole, as the earlier period averages growth close to 3%, we estimate. Growth was driven by hardware, particularly the Nintendo Switch and the Xbox One X, where GMD has been stocked to satisfy demand throughout the year to date, unlike FY17. Forecast unchanged despite mix GMD reports that the mix bias to hardware has a negative margin effect of c 1%. Although new models attract the best hardware margins, these are lower than GMD’s overall margin. The company expects to cover the mix issue through further cost savings. It is extending its existing FY18 cost savings programme of c £4m, and plans additional savings. We retain our forecast. Experiential progress The experiential change strategy is on track. BELONG gaming arenas have grown utilisation levels from 21.3% in Q4 last year to 28.2%. There were no redevelopments over the busy Christmas period, but further openings are planned from February. In addition, the latest gaming festival, Insomnia 62, is scheduled for the Easter weekend, to include Call of Duty World League: Birmingham Open, GMD’s largest esports event to date. Insomnia attracts audiences of up to 155,000. Valuation: 3.5x EBITDA looks wrong Cash benefited from the £17m (90%) completion proceeds from the November sale of the Multiplay Digital business, which is the main factor in a £24m year-on-year increase in cash to £67m at end December 2017. Net cash at year end plus the full proceeds of Multiplay Digital is 35p per share. On this basis the market values the business at only 3.5x FY18e EBITDA, which we feel is misplaced, even taking into account the execution risks ahead. As we are not changing our forecast, we retain our 80p valuation, which is a blend of DCF, peer comparison and sum-of-the-parts. |
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