Mitie Share Discussion Threads

[bones] 28/9/2016 11:01

The main issue here is that with the contracts impacted by structural changes (living wage, govt finance cuts), future impairments of goodwill seem possible. As intangibles in the balance sheet (>£500m) exceed net assets (£400m and change) already (at last balance sheet date), that is a major concern.

[grabster] 28/9/2016 09:33

Some of the negative factors listed in their Sept 19 update are ongoing ones, not just one-off historic ones. These will surely have a dulling effect over the coming months as the company attempts to extricate itsef from contracts which, because of changes in legislation, will cease to generate the profit levels envisaged when signed. In most cases the company will only be able to get out of such contracts when they become due for renewal. Personally I think the share price is unlikely to do better than flatline over the next 12 months.

[essentialinvestor] 27/9/2016 11:00

If you chase ambulances you eventually end up in A&E imv.

None of us know what is going to happen, however the sector has cost
some investors dearly over the past few years.

No director buying.

[spoole5] 27/9/2016 10:55

Still no end to the decline. 1.50 coming

[bones] 26/9/2016 18:49

Let the battle commence Stonefold :)

Strong bid on closing auction today so may see a bounce of sorts tomorrow?

[stonefold] 26/9/2016 11:53

“You can be sure” Short positions continue to close as fear of a share price rally spreads. ;-)

BlackRock Investment Management (UK) Limited 1.89 % 2016-09-21

Marshall Wace LLP 0.49 % 2016-09-21

[bones] 23/9/2016 19:07

Shorters who trade in large blocks have to reduce or cover into the herd when it stampedes otherwise they could not achieve a good price (low) in such large volumes. That does not make them bullish but is just sensible trading. You can be sure they are still happy with the prospects for their remaining shorts.This still looks like a 100p share to me given the carnage in the report.

[stonefold] 23/9/2016 14:51

If a broker had an umbrella maker as a paying client then the broker's target would be rain.

[sh1984] 23/9/2016 12:18

Brokers target seems like there is more bad news to come?

[stonefold] 22/9/2016 18:03

More indications of support

reducing short positions

BlackRock Investment Management (UK) Limited
From 2.20 % 2016-09-15
To 1.93% 2016-09-20


SFM UK Management LLP
From 1.21 % 2016-06-20
To 0.92 % 2016-09-19


===

Increasing long position

Today’s RNS:

Harris Associates L.P.

Bought a few on the dip bringing their total

From 17,910,282 on 15-09-2016
To 18,393,003 on 19-09-2016

[deanroberthunt] 22/9/2016 13:01

once the sellers are done 20-30% in short time, I'm accumulating down here boyz....now in well oversold territory

[mike24] 22/9/2016 09:06

could recover from 186ish
seems limited downside from here,
nai

[stonefold] 21/9/2016 19:23

First of the shorters (wise enough) to bank a profit (before they lose it) and close out:

Threadneedle Asset Management Limited
from 0.56 % 2016-08-17
to 0.26 % 2016-09-19

[essentialinvestor] 21/9/2016 17:41

Only chimp traders long imv, those who bought in expecting a bounce
and now getting badly burnt, all IMV only.

[spoole5] 21/9/2016 13:36

Yep, they will smell blood, and until there is evidence of a turnaround this will keep falling. Hard to see how current management can do this. The thing is there are some decent businesses in there but there needs to be a complete reorganisation. Will keep a close eye on this as a potential turnaround play, the catalyst being a new ceo. Timing an entry is like catching a falling knife though. Dividend cut now a certainty.

[412069] 21/9/2016 13:19

This will be shorted to deaths door now.

[blueball] 21/9/2016 12:31

Next leg down to 120p level imo.

[stonefold] 21/9/2016 12:30

If the pre 19th Sept shorters are wondering what to do with their 25% paper profit (before it dwindles away)And if they don't mind the risk they could try going long with JKX for a couple of weeks.

[spoole5] 21/9/2016 10:45

Another connaught?http://www.bbc.co.uk/news/business-11228059

[spoole5] 21/9/2016 10:44

1.50 on the cards here. The cupboard is open now, how many more skeletons?

[deanroberthunt] 21/9/2016 07:39

meanwhile there's a trading op to be had

[dazzaa] 20/9/2016 22:12

Indeed they do a veritable catalogue of them but who will be brave enough to short so soon ?

[bones] 20/9/2016 21:41

This has the makings of a further profit warning in the next update. The catalogue of reasons for things going wrong all at once seem fundamental in nature and a kitchen sink full of write-downs and goodwill impairments must be odds-on in a few months' time? These situations often come in instalments, do they not?

[bombadil79] 20/9/2016 16:10

So much BS and spin in the trading update. The company is blaming anything else but their mismanagement. Naturally.