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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mortgage Advice Bureau (holdings) Plc | MAB1 | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 20.00 | 2.35% | 870.00 | 16:35:19 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 870.00 | 870.00 | 870.00 | 870.00 | 850.00 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Top Posts |
|---|
Posted at 02/6/2021 16:29 by spann_703 Agreed, gsbmba99. I wonder how many investors [like myself] own shares in both companies. They both exhibit similarly-good quality metrics - I think BLV still looks decent value too, despite the recent appreciation in share price. |
Posted at 22/4/2021 23:06 by gsbmba99 I was encouraged to hear Dorian Gonsalves, CEO of Belvoir (MAB1's largest external customer), say in the Investor Meets Company presentation that he expected adviser numbers to grow from 202 on 31 Dec 20 to about 240 at year end or about 10/quarter. One thing I would love to learn more about is how MAB1 think about lifetime customer revenue and whether they have stats on that. There could be a significant element of "recurring" revenue albeit on 2-5 year intervals instead of yearly. I would also be interested to know if there were any publicly available sources for mortgages by type, in particular how long the fixed rate period is. Let me know if anyone has ideas. |
Posted at 04/10/2018 22:52 by johnv Momentum investor, |
Posted at 27/4/2016 12:20 by alphabeta4 Result - just managed to double my holding at the placing price. Pretty unusual - I think PIs forget / don't understand sometimes that selling large blocks will create a discount but also acts as a price floor (and the institutional investors would have done some decent research too before committing to buy). |
Posted at 27/4/2016 07:59 by alphabeta4 Pretty happy with today's news - it will be good to boarden the institutional base and removes some of the risk of Peter having excessive shareholder power.A similar thing happened at ACSO recently off shares that had also risen significantly (which I guess is only fair as us private investors also top slice from time to time). It was well received and oversubscribed leading to a further c10% gain in the share price post placing. Here's hoping :) |
Posted at 16/5/2015 10:55 by masurenguy Link to the MAB investor section of the website which would have been useful to have in the header.The 3 senior execs, Brodnicki, Preece and Robinson collectively still hold 46.1% of the shares. |
Posted at 15/4/2015 23:13 by gargleblaster Just bought in today on the back of this write up in shrs mag - wish I had been quicker off the mark!Fast cash at Mortgage Advice Maiden results give glimpse of MAB’s quality Frothiness in the initial public offering (IPO) market means investors need to be especially careful when looking at recently floated stocks. Cash shells are coming on to the market and surging to fantasy valuations, as covered in Agenda – Gate Ventures. Flying distinctly under the radar is Mortgage Advice Bureau (MAB1:AIM), listed in November. Profitable, fantastically cash generative and delivering returns on capital which are off the charts, investors can still buy the shares at little more than 10% above what institutions paid to access an over-subscribed IPO. Before getting on to the numbers we should look at what the business actually does. MGEADVICE BURU(HDG) (WI) - Comparison Line Chart (Rebased to first) OUTSOURCING BUREAU Mortgage Advice Bureau (MAB) is the brand used by the majority of the independent mortgage brokers, known as Appointed Representatives (ARs), that use its bureau services. Derby-based MAB provides a route to market for these brokers through its relationships with lenders, its brand and a range of outsourced services, most notably regulatory compliance and its proprietary IT platform MIDAS. Outsourcing these activities enables ARs to focus on meeting new clients and winning business. Insurance commission is also a key revenue earner at MAB contributing 41% of revenues compared to 42% in the mortgage division. These are mostly cross-sells to mortgage clients, according to analyst Robin Savage at house broker Canaccord Genuity. PROFITABLE Profitability is only a twinkle in the eye of many entrepreneurs bringing their businesses to AIM. Mortgage Advice Bureau co-founder and chief executive Peter Brodnicki tells Shares the business he majority owns grew pre-tax profit 40% a year in the five years prior to listing. Results just out (26 Mar) show MAB continues to expand at the same pace. Year-ahead earnings per share are forecast by Savage at 14.3p, from 12.7p this year – a growth rate of 12.6%. Growth: MEDIUM Market share continues to grow in a mortgage market still well below its 2007 peak. Risk: HIGH Regulatory changes, customer concentration and retention of key personnel are considerations. Quality: MEDIUM Excellent cash conversion and returns on capital are offset by a short public trading record. CASH GENERATIVE Small businesses can suffer working capital strains as they grow, hindering their ability to reinvest. Brodnicki says the opposite is true at Mortgage Advice Bureau. It collects commissions from lenders and takes its cut before handing over the funds to brokers using its platform, meaning it has a negative working capital requirement. Capital intensity is also low in the business, meaning return on average equity last year came in at 59%. These factors explain MAB’s target dividend pay-out ratio of 60% of earnings, which puts it on a forecast yield of 4.8% (8.3p a share, broker estimate). Risks at MAB centre around regulation, and a number are highlighted in its prospectus. Commission – a key part of MAB’s earnings – has come under fire from UK legislators over the past five years. Mortgage regulation, through the Mortgage Market Review (MMR) and the forthcoming European Mortgage Credit Directive (EMCD) are also in the offing. CEO Brodnicki says early outcomes from the MMR indicate the new rules will help rather than hinder the intermediary market. Buy-to-let lending may also suffer when the EMCD is fully introduced, according to Savage, because of tougher rules on individual buyers – potentially reducing volume growth. MORTGAGE ADVICE BUREAU (MAB1:AIM) 181p Stop loss: 145p Market value: £91 million Prospective PE Dec 2015: 12.5 Prospective PE Dec 2016: 10.1 Prospective dividend yield: 4.8% Bid/offer spread: 2.6% Analyst price target: 227p* *House broker Cannaccord, 26 Mar |
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