Pennant Share Discussion Threads

[calahan] 15/11/2013 10:54

Lets hope so madmix. Languished below 80p for too long now (was personally surprised to see sub 80p again).

Only 1 MM left on 80p now (2x81 2x82), there were 3 at 80p at the start of the day. So could be ticking up again shortly.

[madmix] 14/11/2013 14:45

Overhang cleared?

[skyracer] 22/10/2013 12:43

Thanks for sharing that owenski. Have been adding too. Long order book visibility is good. A company like BAE have to plan ahead and get reliable supplier contracts in place so they can concentrate on the bigger picture. Of course no quoted investment is without the risk of unexpected shocks but if anything I would expect further good contract news rather than bad news. I like the idea of Pennant buying back the shares of directors needing some cash.

[macdoni] 22/10/2013 11:24

topped up as well at 73p. need some newsflow to get it going again.

[owenski] 22/10/2013 09:52

Had a phone call returned from a company rep. this morning

FD share sell was to raise cash for personal reasons, still holds well over a million and intends to hold, no other directors are selling.

Seems like a good buy point to me.

Impressed that they returned my call, guy was polite and helpful.

[stevemarkus] 22/10/2013 09:27

And me! Managed a buy at 73p...

[dasv] 22/10/2013 09:24

picked up some more too. snap.

[wjccghcc] 22/10/2013 09:19

Had a few as well.

[madmix] 22/10/2013 09:15

Back in this morning at 73.25p. Looks good value here IMHO.

[topvest] 21/10/2013 19:40

What a ridiculous movement for such a small sale. I presume Mr. John Waller needs some cash for something. He still owns circa. 1.5m shares, so it is not a significant sale, and is a bargain price share buy-back. A real opportunity now for those wishing to enter the fray. P/E down to 11.

[pj 1] 21/10/2013 11:13

There's the answer i guess ...Pennant International Group plc announces that it has been informed that on 18 October 2013 John Waller, Finance Director, sold 91,875 ordinary shares of 5p each ("Ordinary Shares") at a price of 75 pence per share.

These 91,875 Ordinary Shares were acquired by the Company at 75 pence per share, all to be held as treasury shares. The Company now holds 1,677,739 Ordinary Shares in treasury.

[topvest] 18/10/2013 20:53

It's all just short term noise on an illiquid share. Another nice contract win or a bullish trading statement and people will be piling in again. Outlook is very positive for them. They do seem to be making increasing waves in the rail sector if you look at the web-site which bodes well if they can start winning big contracts here as well as their traditional hunting grounds.

[gengulphus] 18/10/2013 04:11

I cannot find any significant news on the company that would cause the drop, but there do seem to be some technical analysis features of the chart. In particular, about 80p is a noticable chart "support level" for the last 3 months or so. Dropping below 80p breaks that support and additionally completes a "double top" pattern with the two peaks at a bit above 90p (intraday) in early August and mid September. And there has also been a fairly steady downtrend over the last month or so, since that second peak, which suggests that the market makers may well have accumulated longer positions than they would really like...

In those circumstances, it's quite plausible that someone deciding to sell 10k shares at 10:50 this morning caused the market makers to react quite quickly with a price drop, and that price drop caused some technical analyst traders to see the broken support and/or completed double top and decide to sell. That resulted in a further 4 sales over the following hour or so (plus possibly some on trading venues other than the LSE), causing further price falls in the next few minutes and then shortly after 12, and that in turn brought in further sales and price drops in the afternoon. People using 10-15% trailing stop-losses to "lock in profits" might also have contributed to those sales, as we're about the right distance below the peaks.

In short, my guess is a chain reaction of sales triggering price drops triggering sales, etc, all set off by the 10:50 sale.

One other interesting feature of the trades list is that I read all of the five trades marked "?" as being "buys". Specifically, the two trades of 20k shares are marked "?" because they're reported late, but are fairly clearly "buys" on the price paid, and the other three are marked "?" because they are at the mid price of the official 77-79p spread, but it looks clear to me that the spread buyers and sellers were seeing at the time on prices actually paid was 77-78p.

So while the trading seems to have had "sells" outweighing "buys" by a big 60k to 15k margin, I suspect it was actually "buys" slightly in the majority, by 70k to 60k...

Gengulphus

[baxter99] 17/10/2013 21:05

anyone know why the drop today?

[cfro] 02/10/2013 09:26

Good if the share price stays that way today boadicea. Very quiet here, just how i like it. Just waiting patiently for the next piece of news.

[boadicea] 02/10/2013 09:20

Dividend stripped this morning with no corresponding drop in share price

[baxter99] 17/9/2013 18:39

Definitely alive and kicking

[cfro] 17/9/2013 14:12

Indeed, seems to be signs of life once more.

[saucepan] 17/9/2013 13:34

Signs that positive momentum could be building again here after a healthy period of rest :-)

[pj 1] 11/9/2013 18:40

Tried to pick some of these up last thing as I noticed those buys coming in, only had 5 mins but could not get any :-((

[cfro] 31/8/2013 13:50

Could be a good little buy/top-up point here. Pe still only around nine.

[cfro] 10/8/2013 09:51

I suspect we wont have to wait too long for another contract win topvest according to this in the results under 'current trading and prospects'.....

"During the period there has been significant ongoing activity with a broad global spread of potential customers on a number of significant opportunites...."

[topvest] 09/8/2013 19:31

Yes, I think this still has quite a way to go. I, for one, won't top slice any more until over a £1. Just need another contract win!

[cfro] 09/8/2013 15:49

Strong bounce back which looks as if it has caught many by surprise, including me! :-)

Made me sit up and take notice and so repurchased some shares i had previously sold on results day.

Fair value looks to be atleast £1.20+.

[topvest] 08/8/2013 16:11

The company is very cash generative as the contracts are billed in stage payments as they get going. Nothing to worry about in my opinion. Just the unprecedented start up of some very big contracts. The pull-backs are due to "top-slicing". This will reverse as new holders come aboard. Fair value must be over a £1.