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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Assetco Plc | LSE:ASTO | London | Ordinary Share | GB00BQ2K3557 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 31.50 | 31,750 | 08:00:03 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 31.00 | 32.00 | 31.50 | 31.50 | 31.50 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Offices-holdng Companies,nec | 16.72M | -26.7M | -0.1874 | -1.68 | 44.88M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 10:01:04 | O | 31,670 | 31.575 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 09/9/2024 | 15:03 | UK RNS | AssetCo PLC Director/PDMR Shareholding |
| 26/7/2024 | 13:49 | ALNC |  DIRECTOR DEALINGS: Wise chair sells GBP1.8 million in options shares |
| 26/7/2024 | 09:20 | UK RNS | AssetCo PLC Director/PDMR Shareholding |
| 22/7/2024 | 15:13 | UK RNS | AssetCo PLC Holding(s) in Company |
| 03/7/2024 | 15:13 | UK RNS | AssetCo PLC Holding(s) in Company |
| 03/7/2024 | 12:48 | ALNC | EARNINGS: AssetCo proposes name change; i(x) Net Zero eyes AIM exit |
| 28/6/2024 | 06:00 | UK RNS | AssetCo PLC 2024 Half-year report for six months ended 31/3/24 |
| 24/4/2024 | 10:55 | UK RNS | AssetCo PLC Result of AGM |
| 16/4/2024 | 19:34 | ALNC | EARNINGS AND TRADING: AssetCo deputy retiring, Chapel Down ups revenue |
| 16/4/2024 | 06:00 | UK RNS | AssetCo PLC Directorate Change |
Assetco (ASTO) Share Charts1 Year Assetco Chart |
|
1 Month Assetco Chart |
Intraday Assetco Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/11/2024 | 07:42 | Assetco rocking on since ASF takeover | 2,582 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 10:01:05 | 31.58 | 31,670 | 9,999.80 | O |
| 08:35:50 | 31.60 | 80 | 25.28 | O |
| 2024-11-20 14:22:04 | 31.98 | 3 | 0.96 | O |
| 2024-11-20 14:20:00 | 31.02 | 17 | 5.27 | O |
| 2024-11-20 14:00:18 | 33.00 | 5 | 1.65 | UT |
| Top Posts |
|---|
Posted at 21/11/2024 08:20 by Assetco Daily Update Assetco Plc is listed in the Offices-holdng Companies,nec sector of the London Stock Exchange with ticker ASTO. The last closing price for Assetco was 31.50p.Assetco currently has 142,474,072 shares in issue. The market capitalisation of Assetco is £44,879,333. Assetco has a price to earnings ratio (PE ratio) of -1.68. This morning ASTO shares opened at 31.50p |
Posted at 31/10/2024 21:32 by theaim1990 Parmenion does not look to be on sale, so the splitting is a way to monetise something in the short term. The company could sell the Parmenion shares coming from the treasury shares and get 1.5/2m.Clearly they have been waiting to see changes in CGT, now they should be in a position to ask shareholders for approval to the proposed share split. On the River side of things, the AUM of the open ended funds seem now at 1.9bn, from 1.5bn in March. At 0.6% fee, that should mean c.2m of additional annualised revenues. Additional 2.625m are contractually due from ARK by 19/3/2025. |
Posted at 14/10/2024 07:08 by privileged They said 53-63p share so I'm still holding if we think entire company is 60-70p but it's getting a bit boring |
Posted at 29/7/2024 14:59 by tommygriff ASTO a cheap way of getting parmenion exposure |
Posted at 25/7/2024 08:48 by catabrit Hello Sphere. Yes some chunky trades going through and barely any move in the price. If you put a 10-12x EBITDA multiple on Parmenion then there is clearly value here. It has an excellent reputation in the market (my private office happens to be next to that of a small wealth manager and he was very positive about them) and the CEO is very widely regarded. He knows the platform market inside out.So with that multiple you are looking at anything from 180m to 220m valuation for Parmenion which nets back to say 60-70m pro rata for us so 20-40 percent upside from here. The good thing is that the business continues to grow so if there is no liquidity event then our pro rata valuation should continue to compound. On the negative side, the exit is not in assetco’s control. They are a minority investor and preservation capital control the entity. So you need to discount that value a little bit for lack of control and no visibility on timing. Then you also need to think about what they would do with the proceeds. Martin’s record on that front is a bit hit and miss. Will he roll the dice with most of the proceeds or will he do the most shareholder friendly thing which is to return capital? It is hard to say. He seems quite defensive about the wider strategy and is potentially (in my opinion) in denial about the odds of his strategy working. Furthermore, the river global business is still loss making and there are only so many levers the guys can pull to cut costs. Gary the CFO is excellent and I really rate him. So you get a free option on River Global but I think you need to as the business is sub scale and really needs flows to continue as a going concern. You also have the very real risk of this potentially de-listing. I can’t believe the listing headache is worth it and it is clearly a busted roll-up. So whilst I recognise the value here I don’t think Mr Market is being entirely irrational. |
Posted at 25/7/2024 07:53 by sphere25 Continual anomalous activity here. Another sizeable block of 1.18m has gone through at 35p. Is this just Harwood continuing to buy pretty aggressively in the market?They are keen here. They are rated as shrewd by many so just wondering if this is worth a little watch. I don't know what it is worth, but happy to ride along if it looks like popping higher. At the moment Harwood have been able to move from 14.41% to 16.52% without the price barely batting an eyelid so clearly sellers in size are still at work in the market. That block today is near another one percent being picked up, but still no movement. If Harwood keep buying, and others follow, it might eventually pop. Despite the bull market flowing through smaller caps, still have loads of these lagging shares about. Mentioned PGH yesterday and there is still some large sellers at work there so a few clearouts needed and I suspect these lagging shares that hit guidance will start motoring. How many more of those blocks is it going to take here? Show us some whoppers so the market can get abit excitable! Just watching from the sidelines. All imo DYOR |
Posted at 22/7/2024 14:58 by ohisay In other words, shareholders receiving one share in Parmenion for every AssetCo share held will hold an investment that should be worth more than AssetCo’s current share price. A circular outlining the demerger process will be published in the current quarter and the Parmenion shares are likely to be traded on a matched bargain basis.The directors also plan to change the name of AssetCo to River Global |
Posted at 29/6/2024 12:15 by privileged Any idea what would generally happen then in such instances? If asto is already in my SIPP. Guess they just sent me the share cert separately in my name for Parmenion (and then what happens for the cost for cgt I wonder...) |
Posted at 28/6/2024 15:37 by wjccghcc Also, the Parmenion share class will be unlisted. |
Posted at 28/6/2024 08:04 by catabrit Interesting news re the separate share class. Kinda makes sense albeit I wonder if the River Global trading stock tanks once people take their Parmenion share class. |
Posted at 11/11/2023 16:38 by tommygriff AssetCoThis is a real oddball. In 2020, the UK AIM listed company AssetCo had ~£30 million in cash but no underlying business (after the loss of a contract providing fire fighting services to the UAE). Fast forward a few years and AssetCo has transformed. It's now an Asset Management business with ~£2.5 Billion in Assets Under Management (AuM).AssetCo also has one of the most experienced micro-cap management teams I've come across. Martin Gilbert is Chairman. The same Martin Gilbert who founded Aberdeen Asset Management in the early 1980s and grew it into the largest Asset Manager based in the UK. When he left Abrdn (as it's now called) in 2020, he convinced his Global head of Investments (Alex Hoctor-Duncan), Head of Private Markets (Peter McKellar), and Head of EMEA/UK (Gary Marshall) to join him at AssetCo.The general strategy has been to acquire small (sub £1Bn AuM) active equity managers with good track records. Many are family owned and lack the scale to complete with their much larger peers. In theory, AssetCo pays ~2-3 x Sales, then reduces compliance costs, integrates back and middle office functions, and cross sells the funds under a single brand. Ultimately, targeting an Operating Margin of ~20-30%.The team has made 7 acquisitions over two years, spending over £100 million using not only the cash on hand, but both debt and equity financing. You only need to look at the historic share price to see it's been a bumpy ride. Mistakes have been made. The most obvious being the purchase of Rize ETF, a racy thematic manager, for 17 x sales in 2021. Growth remained low and it was recently sold to Cathie Wood's ARK at a cut down price.Away from this 'moon-shot' investment, the other acquisitions averaged ~3 x Sales and focused more on traditional active 'Value' strategies (here's a link to AssetCo's current funds).Thinking about valuation. As a rule of thumb, Asset Managers are rarely sold for less than 1% of AuM. This conservative approach would value AssetCo at around the current Market Capitalisation of ~£50 million. Consisting of ~£25 million for the AuM and ~£20 million of Net Cash (as of the last reporting date, the 31st March 2023).The kicker, and most of the upside, comes from AssetCo's 30% ownership of Parmenion. A platform for Independent Financial Advisors that is majority owned by the Private Equity firm Preservation Capital Partners and was bought from Abrdn in 2021 (yes, the same Abrdn that Martin Gilbert had left a year earlier!).Parmenion' |
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