Pendragon Share Discussion Threads

[dondee] 02/12/2015 15:53

I was reading recently that a lot of VW work will be coming the way of main dealers due to their(VW)shenanigans, which should be good for profits. Onwards and upwards as they say.

[jeffian] 01/12/2015 16:08

Testing the highs.

[jeffian] 16/11/2015 09:46

Odey bags more Pendragon
Citywire A-rated hedge fund supremo Crispin Odey has increased his long-running exposure to car dealership Pendragon as its shares continue to hover close to a post-2007 high.

Odey, who has held Pendragon (PDG) since 2009, upped his holding to 17.5% of the business worth £109.7 million at a price of 43p.

More than half of that is held within his Odey Allegra and European funds, with the remainder spread across other portfolios at the company.

Shares in Pendragon are up almost 40% over the last 12 months but have largely traded sideways since briefly hitting 46p in August. Both Jefferies and Berenberg hold the company on ‘buy’ ratings and targets of 55p and 52p respectively.

The company this week reported profit before tax up 6.6% over the third quarter. Gross profit in its second-hand division, one of the company’s principal areas of growth, rose 15.2%.

[alanjames999] 03/11/2015 20:10

Very upbeat statement

[jeffian] 03/11/2015 12:15

Having bought considerably lower down, I had always intended to sell when it got into the 40's but at a time when so many shares are expensive, I'm holding on fundamental considerations. Recent and forecast growth in earnings and dividends put it on quite a modest per and good dividend yield.

[sphere25] 03/11/2015 10:05

Chugging along nicely, but doesn't appear to be enough to break the top of the range.

Pretty obvious where the buy and sell points are on the chart.

[gucci] 03/11/2015 09:58

out for now

[deadly] 03/11/2015 09:48

Good IMS, but poor reaction.

[gucci] 29/10/2015 11:07

Ready to break out

[sphere25] 27/10/2015 08:42

Continuing to expand.

Interim statement next week.

Buying the dips

[jeffian] 23/10/2015 09:44

Catchy nickname! I doubt you'll find anyone opening up to you about their dividends!

8-)

[hmrc inspector] 23/10/2015 09:01

Don't forget the divi is paid today. I've checked and mine are already in my account. Shame about the share price

[gucci] 20/10/2015 10:05

Starting next leg up?

[jeffian] 08/10/2015 14:25

"Car sales at September record as demand for petrol vehicles soars"

[pastybap] 30/9/2015 16:43

Certain risks I can see is

1. If the govt go overboard like Switzerland did, and halt sales of certain brands. Unlikely

2. Increased CO2 emissions moving cars into higher car tax brackets, which may reduce demand. However, I don't think demand would bethat elastic in relation to this.

3. Value of current stock will need to be written down if car values are affected. All depends on whether cars are sale or return (i.e point of ownership by the dealers)

4. For specific brand dealerships eg. VW, Audi, Skoda, Seat- reputational damage caused by brand association.

[jeffian] 29/9/2015 19:24

Why would dealers be affected by the VW 'scandal'? Nobody I know in the real world gives a stuff about Nox emissions. They care about quality, reliability, price etc (and also mpg, but everyone knows those have been fixed for years and only look at relative economy - i.e. compared to other models - rather than what they will achieve 'on the road'). Can't see it affecting sales and if Governments insist on alterations - more work for the dealerships.

[wjccghcc] 29/9/2015 12:08

Yup, sold my LOOK and VTU (both have VW exposure) and added here on the dip.

[valhalla] 29/9/2015 10:38

Yes agree. With the latest Benfield acquisition Lookers has the greater exposure to VW group. looks like c.20/25% of their total dealerships are now VW/Audi/Skoda.

[felix99] 29/9/2015 10:33

sold most of mine yesterday and last few bits early doors. Agree they have little exposure to VAG cars but whole sector tarred until it is clear it is only VAG that are doing it. Will buy back if clear only VAG involved but would rather sit and watch from sidelines than risk a broadside if other marks are affected - to be honest knowing the car industry I cannot believe others have not been at it too in some way.

[marky55] 29/9/2015 09:58

Yep, with no VW franchises surely they're in line to pick up greater market share (albeit maybe the total market may shrink back a bit for now)

[wjccghcc] 29/9/2015 09:32

Hmm. Bought a few more. Pendragon don't have any Volkswagen or Audi franchises so unless you think all the carmakers are doing it, then this seems an overreaction.

[onjohn] 24/9/2015 22:28

lots of worthless dealerships