Bca Marketplace Share Discussion Threads

[skatersav] 14/6/2019 07:21

I think the results might be OK... the market really started to head south from April and the results run to the end of March. It’s the coming year that I think will be a real problem. As always, it’s in the guide... good luck whatever you choose to do. :)

[ygor705] 13/6/2019 17:10

Interesting points skatesav. I've taken a turn out of the stock that I bought last week as Woodford is still lurking in the background. Maintain a watching brief as this is a very bread and butter type of business that should always make money if it is run properly. Be interesting to see what the results bring.

[skatersav] 12/6/2019 07:58

@ygor705: I completely agree - this isn't nearly as bad as much of the illiquid stuff he owns. But I think there is quite a lot wrong with it. Here is what I am seeing: The company has been pursuing an aggressive approach to keep on a growth path. For instance: 1. Lending money to its customers (used car dealers) to buy its cars. 2. Taking inventory onto its balance sheet to squeeze out some extra margin. 3. Increasing pricing in response to falling asset values, taking more of the sale. It's highly geared, both financially and operationally (nb. the net debt to ebitda number they report ignores a big chunk of the debt), is locked into very long term leases with no breaks and a 3% annual escalator, and there is some evidence of competition rising. Meanwhile, we are still winding down from a credit bubble caused by the car makers trying to drive sales: PCP. You can see the effects of this in the deflation of used car pricing (which actually hasn't been nearly as precipitous as I was expecting, but is happening). The stock has been cornered by Woodford and Barnett for a long time, both of which have been recent sellers, alongside Avril PB. And governance has always been a concern of mine: the backdoor route it came to the market, egregious compensation schemes, and the share buy back from Woodford are examples. I think Avril is an exceptionally bright women and a capable operator, so I'm taking her share sales as a signal. There's the skinny on my bear thesis. Good luck! :)

[skatersav] 10/6/2019 11:20

It doesn’t matter whether the daughter sold them or not! The fact is that the CEO exited a load of stock. It’s entirely legitimate to highlight an insider’s ownership patterns, and the CEO just reduced her position... again. And, yes, I am short, for many more reasons than Avril PB’s reducing position in the shares.

Edit: But you know what, you’re right: i shouldn’t make assumptions about what other people think about the stock. Just because I would have dumped them faster than I could say “thanks mum”, it doesn’t mean she will.

[bc4] 09/6/2019 16:37

Skatersav

Meanwhile, Avril Pb transferred 2m shares to her daughter in Maorch, who will probably have sold. Now you do not know that if you do show proof it is unbelievable what people will say when they are short we all wait for your proof
cheers

[ygor705] 09/6/2019 15:46

With 7% of BCA shares still in the orbit of Woodford you may not be the only shorter skatersav. That said, and your position may or may not be correct, I personally draw a distinction between the high risk and relatively illiquid positions taken by Woodford that has brought about his current problems and the likes of BCA. Fund Managers don't go from being 100% right to 100% wrong overnight and I shall be looking for other reasonable companies where he is a forced seller.

[skatersav] 08/6/2019 09:39

Chaps/chapettes. Woodford did not sell those shares. He lost a 3.5bn mandate to run money for st James place. That’s why it shows a reduction in his holding. This shares now sit with two fund managers who do not necessarily want to own the shares. They will probably sell them, in my opinion. Meanwhile, Avril Pb transferred 2m shares to her daughter in March, who will probably have sold. And BCA fail to put out a trading statement in April, as they did last year... I am short.

[ygor705] 07/6/2019 19:04

Had been wondering why the share price here was so weak .......well now w know. Bought a few earlier in the week and happy to have done so.

[poikka] 07/6/2019 09:20

Well somebody's picked them up.

Woody selling the easy stuff and leaving himself with the less liquid - and possibly more dodgy stuff. UTs and OIECs best avoided.

[bc4] 06/6/2019 21:10

Woodford sell over 5%
BCA Marketplace PLC NOTIFICATION OF MAJOR HOLDINGS

06/06/2019 5:30pm
BCA Marketplace PLC

06 June 2019

------------------
3. Details of person subject to the notification obligation
Name Woodford Investment Management Ltd
City and country of registered office 9400 Garsington Road, Oxford, OX4
(if applicable) 2HN, United Kingdom
4. Full name of shareholder(s) (if different from 3.)
Name
--------------------------------------------------------
City and country of registered office
(if applicable)
--------------------------------------------------------
5. Date on which the threshold was 05/06/2019
crossed or reached:
--------------------------------------------------------
6. Date on which issuer notified (DD/MM/YYYY): 06/06/2019
--------------------------------------------------------

------------------------ ------------------- --------------- ------------------
Resulting situation
on the date
on which threshold
was crossed
or reached 7.14% 7.14% 784,341,817
------------------------ ------------------- --------------- ------------------
Position of
previous notification
(if
applicable) 12.59% 12.59%
------------------------ ------------------- --------------- ------------------

[skatersav] 08/5/2019 18:47

Yeah, do they not normally put out some sort of trading statement? I see APB resigned from redde.

[martywidget] 16/4/2019 11:53

From website:

"The next planned announcement for Preliminary Results is 26/06/2019.*

* Although we will always endeavour to adhere to the dates above, all future events are provisional and subject to change".




{I see they had Trading Update last year on 11 April 2018}

Previous RNS announcements:

[liquidkid] 16/4/2019 11:19

Trading Update - Ahead of Market Expectations?

BCA, the UK and Europe's market leading digital and physical used vehicle marketplace and automotive service provider is pleased to announce the following trading statement...

...waiting.

[ygor705] 27/3/2019 09:18

Today's announcement that the government is planning to introduce speed limiters on new cars by 2022 must surely put another nail in the coffin of the political class. I bought my latest new car in 2014 and it's like having two wives sitting with you. Can only see people adopting the same habits with cars as they've done with houses ie buy something second hand and refurbishing it. BCA will most likely benefit from this announcement plus the tendency for people to hold on to their old cars for longer.

[poikka] 21/12/2018 17:20

Missed that. Woody offloading some that others have picked up today. Wonder what Avril's take on Brexit is - just as a matter of interest. I reckon/hope she doesn't give a toss and just wants to grow the business.

[skatersav] 20/12/2018 08:51

You guys see this chunky buy back yesterday afternoon?

[poikka] 05/12/2018 19:37

Thanks, aston, and a neat divi, too :)

[skyship] 14/11/2018 09:29

gleach - thnx for that

[gleach23] 14/11/2018 09:11

Read-across from MMH

Edit - and MVI as yet unmoved!

[skyship] 14/11/2018 08:14

A nice 5% jump to 212p today...anyone know why?

[porsche1945] 23/10/2018 15:50

Didn't realise that idiot Woodford a holder of these, thats it then, down the toilet.