||EPS - Basic
||Market Cap (m)
Morses Club Share Discussion Threads
Showing 51 to 72 of 75 messages
|Good to see Panmure retain their buy stance with an increased target price of 150. Ex divi 2.1p today.|
|I've taken a few here, good cash flow , progressive dividend and consolidating in the sector.|
|Davro check the company admission document. All figures are there. Looks positive.|
|Anyone have any revenue, profit and debt figures for this company?|
|interesting business. does anyone else have comments a month into the IPO?|
|"High returns, low leverage and new products Morses Club’s business model differs to most lenders in that it lends short and borrows long, and so has no duration mismatch or liquidity concerns. In FY16A, the revenue yield was 166%, and the risk adjusted margin was 131% (revenue less impairments as a proportion of the net loan book). As the interest margin and impairments are both very high, the risk adjusted margin is a key indicator... The company is aiming to reduce the duration of the loan book further, and this will have the effect of increasing the revenue yield and decreasing impairments. In addition to the core door step lending business, Morses has several new products and services that it is aiming to launch over the next 24 months."
|"Morses Club is the second largest Home Collected Credit (“HCC”) company by market share, and is the only listed pure play in this niche lending market. We like the shares because of; (1) The structural changes creating opportunities in the HCC market and its resilience to negative changes in the UK economy (2) the high quality of the business (RoAE above 25%, RoAA 19%, and only 1.3x geared) and (3) the compelling valuation (7.1% yield, 8.5x PE and 2.2x PB)."
Panmure - High sustainable returns, low leverage
|What Investment - 15/6/16:
The small cap stock he bought shares in is Morses Group, a £126 million market cap company.
Beagles remarked, ‘With 200,000 customers, Morses has the second largest market share in the UK home collected credit market (Provident Financial is the market leader). The company operates under a long-established brand and is building a market-leading UK non-standard consumer finance business. The group is well-capitalised with very low financial leverage, has invested wisely in technology and is actively consolidating the market (where smaller players are being driven out by greater regulatory pressures). The stock was a new issue at a very attractive valuation that was based on prudent forecasts (a combination unfortunately not normally associated with IPOs).’
|They seem to be making the right moves again although they've had a few serious 'hiccups' too. As you pointed out, they are well below NAV and given that Redstones' prospects appear to be improving these could soon be rerated.|
|Good to see the rise today. Still a long way to go to NAV, and much of the value in cash.
Also good to see directors buying.
|I sold out today at 77p once RED was going south. I dont really follow why RED has been hit so hard but it must impact on this stock.|
|Today our friends the MMs opened the stock lower - why?
If it is to encourage sellers, to date all they have got is one buy order.|
|I bought 5000 of these at 65p with no premium. There is not generally a lot of stock available and when MM's are short of stock it can be difficult to get it at the price. Suggest you try to buy on down days. This one may get sqeezed higher fast if a large number of people turn bullish. Makes up for my losses on RED,|
|Up another 6% today, perhaps on the back of the following:
Mountcashel PLC 6 June 2001
Mountcashel plc (the "Company") today confirms that Phaseone Investments
Limited has increased its holding in the Company to 328,750 ordinary shares of
50p each, which equates to 3.64 per cent. of the Company's issued share
optimist at large
|OAL - thanks for that.
I bought in following the results comment in IC which I thought made the share a bit of an obvious buy. They have gone up a third since then. I wonder if any of the interest could stem from IC readers.
Why buy 5000 then when you can buy 2 * 2500?|
The price of 85p for 5,000 shares is because the NMS (normal market size) is only 1,000 shares. I have found that usually there is no problem, buying or selling, up to 2,500 shares but for larger quantities a premium is normally required unless the MMs have excess stock.
I think a major factor in the recent share price rise has been an increase in interest following the fairly significant directors' purchases. The share is somewhat illiquid which tends to make it very responsive to changes in demand.
The market cap at today's close is still only about £7M. which is less than the current value of their known investments and cash even after excluding RED.
I spoke to the FD today to try to find out if their RED shareholding had decreased but, as expected, got nowhere. However he sounded bullish and thought shareholders would be pleased with current developments in due course.|
optimist at large
|A buy trade at 85p - miles above the spread. Any comments?
Optimist - its the cash in the portfolio pumping up the share, yes?|
|Yet another director buy today even though RED is further down.
In the 'good old days' a MCL share used to be about 80% of the value
of a RED share, its now about300% !|
optimist at large
|Director buying today - noone spot it ?|
|Mountcashel is up 17% since Friday morning on the largest volumes I can remember, has anyone any information ?.|
optimist at large
|Bought some more at mid of 61 (see RED post), but this is rather a solitary habit, to judge from volumes. Figured MCL had about 40 - 50% gearing to RED's price, although it's too simplistic to assume cap rise from RED will drop stright onto MCL's price.
Oh well, we'll see what happens
Max the Pauper|
|Why no volumes this am ? Trades have gone through you know !|