Cordiant Digital Infrast... Share Discussion Threads

[cc2014] 12/4/2024 09:10

I did manage to buy some yesterday afternoon online through AJ Bell but it's phone dealing now

It's interesting that Citywire uses the words AJ Bell "blunders". That's a bold statement.


I find it bizarre. I'm allowed to buy crypto, I'm allowed to take out high yield loans, yet I'm not allowed without a phone call to buy something where I'm prepared to lose 100% of my money

[cc2014] 27/3/2024 15:31

Seems to have turned up at last. Now, if this could return to 70p as fast as it fell that would be helpful

[melody9999] 25/3/2024 17:28

I had same Spec and will be speaking to AJBell tomorrow. They originally told me it was BSIF that had failed; now they tell me it is CORD.

I don't believe this is the case with either of the 2 companies and will be seeking clarification.

[spectoacc] 25/3/2024 14:04

From AJ Bell, not that many of us will give two hoots:

"...The investment you hold that failed a fair value assessment is: CORDIANT DIGITAL INFRASTRUCTURE LTD."

[spectoacc] 20/3/2024 07:00

Agreed, albeit hasn't stopped me buying more yesterday.

Could be eg Newton, who went from 9.98% to 4.94% in one RNS previously. Dumping nearly 5% of CORD has to have a big effect on the price.

Just speculating - could be any of the usual suspect fund managers like the lamentable M&G, Schroders, Quilter, Rathbones etc. They're all seeing redemptions, they're all selling down, particularly the more illiquid as their overall portfolios shrink.

[lord gnome] 19/3/2024 16:53

In my experience Speccy, that's always a good indication that the share price is going lower.

[spectoacc] 19/3/2024 16:28

Big seller around this afternoon, can buy nearer to bid than offer.

[cousinit] 14/3/2024 16:27

Agree, it was a good update.

I may have misread the tea leaves but I got the impression that they were playing down buybacks given the attractive investment opportunities they were seeing.

[cc2014] 14/3/2024 12:20

Decent update again today although I sense the management are fed up with the share price being where it is.

It will be interesting to see whether they buy back another bunch of shares.

[cousinit] 09/3/2024 11:00

Maybe I have too much of an optimiser mindset, given those shares that went begging in the low 60s that could have been cancelled.

I wonder whether the listing being on the specialist fund segment exacerbates the volatility? OCI also seems to gap around at times even though it's a fair size with a good track record

[cc2014] 08/3/2024 16:08

I quite like the way they are doing it as once you give your broker a mandate to buy a few each day or based on a set of rules everyone knows what's happening and everyone including probably the broker front runs it so the Trust ends up paying more.

It tells me what the management think is a fair price which I find valuable information.

[cousinit] 08/3/2024 15:46

One of the things I find strange with CORD is how the buyback is being conducted. It's very sporadic, along with the fairly chunky Chair and manager purchases.

I'm not sure if this is due to them having inside information regularly? Clearly as well as results there are potential deals/bolt ons that they might consider significant enough to be price sensitive.

The cash allocated to buybacks isn't that substantial given the size of the trust but I do wonder if they could issue it as an arm's length mandate so it can continue during some closed periods? The last buyback was 11th Feb and we've been on a fairly wild ride since then...

[cc2014] 08/3/2024 08:46

Presumably one of the sides is Newton continuing to sell down and the other is the rest of the market.

Or perhaps some of the people who bought around 65p are selling for a quick profit.


Either way as I agree the volume is healthy and it's grinding down the sellers.

I suspect once Newton are out the share price will pop up pretty quick

[spectoacc] 07/3/2024 16:40

Close was a little high but nice to see 250k 73p, 250k 72.85p, 520k 73p, 300k 73p. Some may be two sides, but CORD remains in demand.

[rambutan2] 03/3/2024 21:37

Re our largest investment, Poland's more favourable EU status under the new govt can't do any harm and may offer a bit of a favourable breeze on the infrastructure front. The Zloty (PSN) v GPB is also probably worth watching.

"In line with EU targets, a significant proportion of the funds should be allocated to climate (42.7%) and digital transformation (21.3%) policies."

[cc2014] 01/3/2024 10:32

It looks to me based on these lumpy trades going through that Newton could still be selling out. We won't know as they've gone below the reporting threshold but that's my instinct.

We will just have to wait until they are finished.

[rogen83] 27/2/2024 18:03

Some decent sized trades today. Next update should be interesting given the discount the shares trade at

[cc2014] 27/2/2024 15:56

Someone still collecting stock as the price rises.

[rogen83] 26/2/2024 18:53

I did say Newton selling was a good contra indicator. Classic case of price walked down given known overhang and a large crossing trade took place roughly a week ago. Onwards and upwards since then….

[spectoacc] 26/2/2024 16:37

Strong close, on a 23k UT.

[cousinit] 26/2/2024 13:33

I guess the lows from October (as Specto has mentioned) now act as a reference point for liquidity. If a seller needs to move stock and a potential buyer has indicated the low of 60p as their bid then it could create the incentive to take any liquidity above it (which probably swamps other small buyers until the price has been beaten down to 60p)

[spectoacc] 26/2/2024 13:09

Indeed. I'd argue the move down was the bizarre thing, so fingers crossed.

Only seems to take one big seller for any of these to take a short-term dive.

[rimau1] 23/2/2024 17:05

That would be 25%! Bizarre times when an infrastructure fund can move so much so quickly

[spectoacc] 23/2/2024 16:12

Hoping for an unscientific 75p. Seller seems to finally be cleared.

[riverman77] 20/2/2024 14:28

Also bought some down here - seems to have been unfairly tainted by troubles at DGI9, but underlying performance looks fine. The key things I look for on these discounted ITs is dividend cover and debt. CORD looks fine here - dividend is 1.5x covered by cashflow and debt looks reasonable. Big director purchases another good sign.