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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Arrow Global Group Plc | ARW | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 307.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 307.00 | 307.00 |
| Top Posts |
|---|
Posted at 25/3/2021 06:49 by ttny2004 Cyclone - maybe. In results just states terms in reference to offer which maybe exactly that type of thing. Who stars who goes and exit packages etc.In results some in interesting observations:-- Plan to resume dividend payments earlier than originally planned, with a final dividend in respect of year-end 2021-- Payments better than provisions written down so if that continues will mean increased cashflow going forward coming back to balance sheet.-- Still very strong opportunities being realised and seen.So all positive offer or no offer I believe.Next update on offer 1st Apr. Not long to wait. Ironically April Fools day. Let's hope does not turn into Investors Fools day lol. |
Posted at 08/2/2021 15:05 by paulopaul1 I got in at 80p and from all the research I can find and news comment 305p seriously undervalues the company, and institutional investors should vote against. It might fall briefly if no serious offer is forthcoming and increase again in the near term. |
Posted at 12/11/2020 07:18 by ttny2004 An excellent set of Q3 results. Expect this to go up from hear to 200p and over.1) Return to profitability.2) Funds under management will double to over 10 billion by 2025.3) Excellent returns.4) by 2025 leverage down from 4 to 3.5) very attractive investment opportunities due to current situation 6) investor and fund management seminar at 2pm todayIf we look at historical share price and these facts going forward if delivered believe share price will be 500p plus in future. |
Posted at 11/11/2020 15:03 by ttny2004 Be interesting to see what tomorrows Q3 results will reveal. Also investors / brokers conf call update accompanying the results. |
Posted at 25/8/2020 07:50 by ammu12 Riverman, have a look at their forecast for H2 and reasons for writedowns...This business is a bit different to your normal company.Beyond the cash position and £2.6b of fund management, I think the most important but maybe overlooked part of todays result is:"With 1.1 billion of discretionary undeployed fund management capital, we are extremely well placed to be a leading investor in this huge market with increasingly attractive returns"ARW are in a very good position to capitalise. |
Posted at 04/6/2020 09:01 by montynj The opportunity in Arrow is recognising the complete disconnect with how investors treat Arrows business and how successful private equity has been and is in attracting capital and managing NPL portfolios such as Cerberus, Apollo, Lone Star etc. Investors in US S&L crisis, Japan and Korean debt crisis in late 90's and GFC made significant returns. It explains why Arrow has been so successful in attracting some 900million in 3rd party capital in 2019/2020 from a range of international private market investors. A first time fund at over 1bn including capital from their balance sheet is a remarkable achievement and a foundation for further diversifying their business into active management where it earns management and performance fees. It is also shows resounding confidence in their business model. Clearly private market investors have confidence where public markets don't. Q1 saw 94% of estimated remaining collections In the current environment, business will pick up as European Courts have now resumed. This will accelerate secured collections (42%) where litigations have been suspended. Unsecured collections remain robust and mostly automated (58%) Debt is high, but cashflow before the virus was strong and there are no bond refinancings until 2024. Average cost of debt is a very manageable 3.2% At these prices it should be a takeover candidate for private equity debt managers to take private. Current prices substantially discount Arrow's business and cash generation. Q1 free cashflow was at £33m |
Posted at 09/8/2019 08:29 by wiseacre The following comment comes from analyst at Peel Hunt:"there are similarities from an accounting perspective between what Muddy Waters had to say on Burford yesterday and Arrow Global. The P&L is dominated by mark-to-market/model adjustments that require long term judgements to be made in relation to the performance of the underlying assets and many of those adjustments are entirely at management’s discretion. Some of the basis upon which performance is reported is unusual and potentially misleading including the calculation used for net IRR and collections to forecast (the 104% is based on original underwriting assumptions not the mark-to-market/model assumptions). Stripping the mark-to-market/model adjustments out of the P&L highlights that the business is loss making, net debt exceeds the value of the investment portfolio at cost and, the business has no tangible net worth. If something goes wrong there is no margin of safety for equity investors and the debt (net debt/total equity 6.3x) providers will end up owning the business in its entirety or alternatively it will go bust. Nor are management exercising discipline; while on one hand it is acknowledged that we are entering a later stage of the credit cycle on the other they continue to increase new portfolio purchases resulting in leverage remaining high. It would seems sensible for management to slow the rate of new purchases, actively deleverage the balance sheet and make greater use of other people money in the asset management business until the cycle turns but sadly this is a team that is obsessed with growth and owns little of the equity personally. For these reasons it remains a high conviction short for me". It is rare for such a damning verdict to come from a sell-side analyst. |
Posted at 27/6/2019 11:07 by wiseacre I made good money shorting this company last year having the luck to close out at the bottom last December. The management has had to run ever faster to stand still but since their ability to raise more money in the bond market is now restricted the chickens will inevitably come home to roost. IMHO the financial statements of the company are misleading for unsophisticated investors. Have taken out a new short position. |
Posted at 30/8/2018 09:40 by wiseacre What people do not understand is the cashflow is negative and the company has to run ever faster to stand still constantly increasing its portfolio. Meantime it is paying 11% on new debt and cannot issue any more. It is running out of space and investors (mainly retail) are getting conned. |
Posted at 23/6/2018 05:47 by andyj Hedge funds have been around for years, indeed they should be part of a good portfolio, but really entered the public consciousness after the Carillion debacle. Since then they have been revered and feared by private investors. The truth is blindly following them has been a recipe for disaster. Sainsbury's, Ocado, Anglo American are just three recent examples when they were badly burned. Wiseacre you previously alluded to the opinion of Bybrook Capital as being your own, until a link was posted. Your continuing reference to their article smacks of desperation and a reverence of the aforementioned, neither of which is healthy or interesting. ARW might well become a successful short for Bybrook, but basing your investment decisions around one article and trying frantically to persuade others is not a tactic successful investors need to use. |
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