Close Brothers Share Discussion Threads

[cyberbub] 21/2/2024 11:45

Are Cannacord independent in this case, or do they have links to the company?

[datait] 21/2/2024 10:18

What's the rating?

[blueclyde] 21/2/2024 09:43

Canaccord Genuity have came out with a buy rating this morning. Never done a rating before..

[tsmith2] 21/2/2024 08:52

similar trading pattern to yesterday?

[blueclyde] 21/2/2024 07:35

Much safer? This company is throwing off cash which makes it safer than anyone with its business with includes asset management and brokerage. It's a nonsense it is below 800p on this and when this blows over I will be looking for 1200p plus as the dividends will kick in again.

[babbler] 21/2/2024 07:22

Lol. Hardly touched the sides with that rise and shorts closing...hmmm.

[popit] 21/2/2024 06:05

Probably best to take some profits here after the huge rises yesterday

There are several cheaper and safer banks such as OSB, STB, Halyk, trading at much lower forecast PE levels than CBG, and with far less risk and uncertainty

[tsmith2] 20/2/2024 22:14

We shall find out next day or so

[datait] 20/2/2024 21:59

Another jump in the morning

[davius] 20/2/2024 21:48

It looks that way. I suspect today's rise might partly be Marshall Wace closing out their short too.

[dplewis1] 20/2/2024 20:46

So Millennium have gone from 0.85% short to 0?

[blueclyde] 20/2/2024 19:51

So the very worst case scenario perhaps is now already covered by putting aside this years dividend yet the share price is down so much... it is utterly ridiculous had not seen the Barclays comment. They could easily bid for Close Brothers as it would be a good fit for them them and would be chump change and off set the costs against profits so would be nil cost... I just do not see how this does not fly higher it is an utterly ridiculous situation no doubt made 1000 times worse by the chronic conditions the wider UK markets are in currently. Huge opportunity imo.

[tsmith2] 20/2/2024 19:32

https://www.shorttracker.co.uk/company/GB0007668071/Imagine Marshall will be closing out theremainder of their short in the next couple of days

[tsmith2] 20/2/2024 18:42

it's vulnerable imo

[blueclyde] 20/2/2024 18:41

There is the asset management business and the is the brokerage business along with the standard banking business. Look at Barclays saying the want to return £10 billion to shareholders over the next three years. Awash with cash £400 million market cap here so this issue has taken off £2 billion worth of value.. For me it bounces back or gets taken out.

[suetballs] 20/2/2024 18:26

blueclyde - pretty much my assessment.
I am only surprised that an opportunistic approach hasn't already been made.
Suet

[blueclyde] 20/2/2024 17:49

I can see this back at 800p a share fairly soon. Lloyds Bank results will shed further light on this. This is not an issue specific to this company and from what I see it is debatable if they have done anything much wrong. At the end of the day there is very cash generative businesses in this so if the market does not move back up quickly i think private equity will have a shot at it about 800p as this is a rather unique situation affecting only part of the wider business that was throwing huge dividends off, and will do again once this blows over.

[dplewis1] 20/2/2024 16:34

Large bid in the auction .. going to uncross much higher

[its the oxman] 20/2/2024 15:59

Worth a lot more than 350p imho but likely be a rocky ride.

[davius] 20/2/2024 15:36

If the latest indications are anything to go by, the share price has been hammered way beyond a level even remotely appropriate. 800p down to 600p might have been understandable, sub 300p was absurd.

Tempting as it is to bank a 14% rise in a couple of days, I think I'll hang on for now.

[richie1218] 20/2/2024 15:19

I pinched that link that was posted by hardup1 on the Lloy thread actually but thought you guy's maybe interested. gla

[tsmith2] 20/2/2024 14:52

let's hope it's only the start of one. A decent amount to buy back

[chriss911911] 20/2/2024 14:52

yep, bye bye shorties, was nice whilst it lasted...

[stoopid] 20/2/2024 14:34

Short squeeze??

[dplewis1] 20/2/2024 14:19

Good find richie "Some redress may well be required, but it should be limited to a minority of agreements, and possibly only a small minority, where DiC was used and there is actual evidence of unfair pricing."