Ramsdens Share Discussion Threads

[ntv] 12/4/2024 08:25

Gold price must be helping margins

[tudes100] 11/4/2024 05:18

At FY results IMC presentation CEO said FX transactions were still 20% down vs pre-covid. They've been able to maintain GP via the increase in margin on each transaction but direction of travel for cash use is obvious.

[solarno lopez] 10/4/2024 21:19

Gold price helping

[tp6] 10/4/2024 15:28

Starting to wake up. Picked up some $ currency from local Ramsdens branch last week. Manager said Forex is still very busy despite people using card. Some of the supermarkets have shut their Forex bureaux and they are picking up the slack.

[cravencottage] 13/3/2024 21:01

Couldn't agree more Tole

This is one of ST's picks from the IC and i'm sure he'll be putting in his two penneth in sooner rather than later..

A good divi too

[tole] 13/3/2024 18:16

https://masterinvestor.co.uk/equities/small-cap-catch-up-aml-cury-rfx-and-fnx/Ramsdens Holdings (LON:RFX) – Confidence InspiringA good positive AGM Trading Update was given on Monday by this FX, pawnbroking, precious metals and jewellery specialist.The Middlesbrough-based group, which has 167 stores across the country, informed investors that its trading for the first five months of the current year had remained strong and up to expectations.Having recently secured a new £15m revolving credit facility with the Bank of Scotland, the group's Board remains highly confident in its continued growth prospects and its expectations for the current financial year.Analysts James Allen and Nick Anderson at Liberum Capital have a Buy rating on the group's shares, looking for 290p in due course.For the year to end September 2024 they estimate £89m (£84m) of sales, generating £10.5m (£10.1m) profits, earnings of 24.0p (24.0p) easily covering a dividend of 11.0p (10.4p) per share.The analysts are looking forward to the £60m valued group declaring its next Trading Update in April.The shares, which closed at 190p, offer very strong upside potential for medium-term investors

[riverman77] 13/3/2024 13:43

HAT and RFX are actually quite different. HAT mainly pawnbroking and I would perhaps use book value here. Pawnbroking makes up a much smaller part of RFX business. Most of their business is more like retail, not just jewellery but also the foreign currency side.

[rimau1] 13/3/2024 13:22

That view really makes no sense to me Riverman, i think RFX make a quarter of their profits from retail jewellery. I value them both as pawnbrokers and diversified financial services (which incidentally gets a higher rating than high street retail). They are surely sector peers. Just my simple view why HAT shot up and RFX is flat. I agree to disagree!!!!

[riverman77] 13/3/2024 12:56

RFX is more like a retailer in many respects so don't think I would value by book value. I would use an earnings multiple and on this basis looks very cheap and has lagged HAT recently.

[rimau1] 13/3/2024 12:31

Simple explanation. HAT derated 15% below TBV pre results whilst RFX trades at a premium to TBV.

[masher69] 13/3/2024 12:25

H&T up strongly in recent days while RFX languishes. Hopefully soon.

[lammylover] 13/3/2024 10:56

Spotted something interesting about Downing Funds:
On the one hand they are closing down their Strategic Micro Cap Investment trust fund which included a declared 9.99% holding in RFX, but on the other hand they are inviting private investors to put funds into their AIM Estate Planning Service ISA in readiness for the new tax year.

And yes, you've guessed it, this includes putting money back into RFX! One of the shares featured in their on line prospectus.

I guess having sold off and driven down the share price of RFX over months to return capital to their old investors, they will then build a new holding in RFX pushing the share price back up for their new investors!!

If I'm correct, its crazy stuff..

[lammylover] 11/3/2024 08:45

Very bullish update. We just need more volume of buyers to clear the Downing fund overhang....

[gleach23] 11/3/2024 08:41

Yes a good update which ought to support the share price from these levels. Interesting that they issued one with the AGM - it's the first time I can see that they've done this so obviously keen to get the message out.

[rcturner2] 11/3/2024 08:06

Decent update from Ramsdens this morning.

[lammylover] 07/3/2024 07:23

Tuesday and Wednesday were both quiet days - less than 40,000 shares traded per day. Spread tight as well and not that many shares available to buy. No big sells or selling into any buys..

Big seller out? or just taking a few days off? or allowing share price to pick up a tad before dumping more?? Time will tell..

[lammylover] 01/3/2024 17:38

There's another big late trade gone through - 130,734 shares at mid point price 175p. Surely we must be getting to a point where Dowding have cleared their stock out?

[lammylover] 27/2/2024 10:40

Thanks hpcg for reply.

Agree, as they are closing account it makes sense to declare 0% when all shares have been sold.

Hopefully soon...

[hpcg] 27/2/2024 10:27

My understanding is that if it is one trade they only have to notify at the very end. Rules might be different at higher percentage holdings, e.g. 10%. Whichever, the only announcement I anticipate is at 0%.

[lammylover] 27/2/2024 10:01

I don't think ST realises that Downing are selling "piecemeal" into any private investor buys, rather than in a block to another institutional investor.

By the way our friendly fund has just dropped another 32,871 block at 171.55p..

It just seems never ending!

As an aside, when does a Fund have to notify the market via RNS, that they have reduced their holding or sold it all?

I thought normally Funds shows a gradual reduction in holdings using a number of RNS's - unless they sell all their holding in 1 block?

[hpcg] 27/2/2024 09:55

The article tells you nothing about RFX. About all it does say is how Simon Thompson doesn't understand flows. He seems to think DSM could get more for its holding in RFX and others because he has higher target prices, when we know that the liquidation itself will depress prices.

[podgyted] 26/2/2024 21:43

Copy "Downing IT outlines its wind-up plan" into Google.

[pugugly] 26/2/2024 21:35

muzmanoz> Many thanks for link - OK protected for IC subscribers only but good link to fund

As behind firewall do they suggest timelines for the liquidation of the balance of fund. As the fund was worth some £30 million on 30th Jan and had cash and net assets of approx £8.4 million balance some £21.6 million of relatively illiquid shares could be or likely be a drag on their share prices. As you have noted for Ramsdens. .