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Stride Gaming Share Discussion Threads
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|888 results today - well received and they trade on a PE of 18. TTR trading at PE 13.5 post it's takeout, STR on PE of 10. Looks a no brainer to me.
Reading the below from Canaccord suggests the cash and appetite is there:
888 shares are up 32% in the past year, but still look attractive. It offers a 6.7% 2016 yield, boosted by a special dividend – and it has paid special divis in each of the past four years. It is also a strategically attractive business – ownership of technology, industry-leading CRM platform etc – in a consolidating industry, suggesting significant optionality from M&A. It also looks well placed for an eventual opening up of the US market.|
|Waking up ?|
|Feature: Making great strides
Created: 16 March 2017
Stride Gaming has captured 10 per cent of the UK online bingo market, making it the fourth largest operator. Gaming Intelligence Hot 50 winner Darren Sims, Stride’s chief operating officer, explains that it’s people rather than technology, which are driving this bingo powerhouse.
During 2016, Stride Gaming acquired 8Ball, Netboost Media and Tarco for £70.2m and leapfrogged Tombola and Rank into fourth place in the UK online bingo market behind JackpotJoy, Gala Coral and Sun Bingo. This helped boost revenue by 22 per cent year-on-year to £47.99m. This performance landed chief operating officer Darren Sims a slot in the Hot 50 and Stride a Bingo Operator of the Year runners-up spot in the Gaming Intelligence Awards.
The acquisitions bequeathed Stride a grand total of 95 brands, bringing its total number of websites to 105. It also gave the London-based company a diversified portfolio that it hopes will appeal to every bingo player’s personal preferences...
|Looks like all buys so far today.|
|If the seller is cleared this will re-rate quite quickly imho although the sector is out of favour because of all the furore about fix odds betting terminals and the proposed restriction on tv advertising, none of which impacts STR, infact it gives them a competitive advantage.|
|Looks like it might have bottomed out now.
Hopefully get a good move up from here.|
|Makes sense - I took peace of mind it was from one joint adviser to the other.|
|Note the appointment of Shore this morning. My take is the Company is not happy with Canaccord, there has been a big seller sitting on this stock for months. Stride keep delivering and the share price should be well over 300p but a seller has continued to drip stock into the market. This remind me very much of Gama Aviation that suffered a similar fate last year. Sadly it happens to illiquid AIM stocks. But that creates opportunity in my book. There has been some big volume over the last couple of weeks and I reckon that is Shore earning their stripes. When the overhang has gone this will be a great opportunity imho.|
|Agreed, I hold (held) both. Considering the CEO here has a track record of successful exits it wouldn't surprise me at all.|
|I note the bid for 22 Red, surprised this company hasn't been taken out, it stands out like a sore thumb at this ridiculous valuation.|
|Liquidity is always an issue with such shares.
Even the biggies can be pushed lower - seemingly against all logic.
Anyway, I have invested half my usual stake - which is not bad for a first-time investment and have the funds to buy more if it so takes me.
I was impressed by the lowly rating and the growth of the past and also what looks like baked in growth for this year too.|
|Iron Storm this is a great business with a very talented management. The placing last year at 225p was massively over subscribed and the shares traded close to £3 but then a fund decided they wanted out and kept selling it down right back to the 225p level. I suspect they are still there selling and the shares will not make progress until they are cleared. The Company have delivered in spades and will continue to grow, so the current price is absurd. The same thing happened with Gama last year and that also created an amazing opportunity to buy. Sadly this sort of indiscriminate selling by a fund can really damage small caps like these. I am a fan and I am patient but this is very frustrating. Good luck.|
|The chart is also looking more positive. It looks like a clear (ish) run to 280 and is backed up by the recent trading.|
|Welcome IronStorm - TTR has been having similar problems but seems finally on the move, hopefully can have the same happen here.|
|I have dipped my toe in these today.
Quite nicely rated and if growth continues they look like a steal - and with lots more to go for.|
|Agreed czar - perhaps some of the earnouts have been holding it back. It feels likes it needs increased awareness here to push the low trading volumes up a bit. IMO if this doesn't happen it's going to be at risk of a takeover like the CEO's previous ventures.|
|Another very solid update, profits growing at over 20% pa but pe in single digits. This reminds me of Gama where institutions wanted out and took the price down to stupid levels before PI's took up the slack. STR must re-rate at some point, this is a real quality business in an exciting space imho.|
|Tipped over on 3 i.Looks interesting at this level.|
|Four stocks for 2017.
San Leon has to be my top pick with a bid of 80p already in the wings and a top fund holding over 50% means the bidder will have to up that to succeed.
Fox Marble, risky but so well underpinned with assets could easily be a 10 bagger.
Gama Aviation, a pe of 4x this has been sold down by a fund to a ridiculous level.
Stride Gaming, another stock that has continued to shoot the lights out but indiscriminate selling by a fund has taken them down to a silly level.|
|Apparently the placing at 225p was many times oversubscribed and since then there has been news of beating expectations, major bank providing very competitive facility, increasing market share and indications of the clear profit drivers of organic growth, new vertical markets, and geographical expansion. I'm not expecting and improvement in the share price until this institutional seller is cleared and sadly they will just keep taking it lower for now IMHO. The good news is we can get in cheaper soon than the institutions who invested at 225p.|
|Agreed - I think it's a bit under the radar which has put the seller in control for now, albeit the chart may now good support via a great risk:reward ratio, at 2.25 it's at a 10% discount to the exceeding expectations statement let alone any upgrades from the acquisition synergies.|
|quite calm here for a while we wait for recovery. seems as if that one seller really held us back.|
|Still a persistent seller, they have taken STR down from 285p over the last few weeks!|
|News coverage & interview:
|Working may way through this as had a couple of key statements this morning. Looks pretty positive. Couple of key paragraphs for me are:
The acquisitions already present attractive player fundamentals, including the opportunity for significant improvements through leveraging off Stride Gaming's leading software platform and marketing expertise, together with delivering synergies through cross-marketing, lowering of CPA, increasing customer LTV and reducing player churn. We expect the acquisitions to be accretive in the first full year of ownership (pre-synergies), deliver cost synergies (marketing, administration, distribution) of an estimated GBP2.5 million (post earn-out) and deliver revenue synergies (increase in LTV, yield and net cash hold) of an estimated GBP3 million (post earn-out).
Recent discussions around the new proposed TV daytime advertising regulations for the bingo-led market are expected to have very little direct impact on the Group since the Group is focused more on digital media as a source of traffic.
These are key for me as to be accretive pre synergies and then have a further £2.5m is a significant proportion of group profits. Finally the shares seemed to take a dip from concerns on daytime advertising whereas as already highlighted on this board today it's been confirmed digital is the key source of traffic.
Taking these into account if the price stays around here Stride will become a takeover target in it's own right IMO from an operator trying to diversify ahead of changing regulation.|