Dawson Share Discussion Threads

[cockneyrebel] 02/6/2011 11:38

That dip snapped up in an instant today.

CR

[davydoo] 01/6/2011 16:10

thanks sportbilly very helpful. certainly suggests the tap is likely to have turned down in terms of the volume we see being sold by Schroders. I had a similar view to CR that within 2 weeks theyd be all out, but if the remainder are spread across many discretionary portfolios that may suggest otherwise.

Im still looking out for a possible large delayed trade from mid morning, when the bid suddenly dropped. If Schroders have stopped then any buying is going to have to pay handsomly to get stock, because wheres the supply? who is going to sell at 12-15p with the excellent results just announced and bid prospects still out there?

My first thoughts on reading the results were, this is a £20m co. regardless of a bid, and that still implies an approx doubling of the share price from here.

[sportbilly1976] 01/6/2011 15:34

davy,

having worked in the finance dept of a stockbrokers before, each broker will have their own discretionary clients (a prized asset when moving from one brokerage to another in terms of fee income) and so I would imagine that the buying or selling is more than likely to be on an individual client basis, although there may be some overall house view re mkt cap's etc

interesting though that it was released today.

imo Schroders held some themselves (in a small cap fund or the such-like), and they have now sold those - hence the distinction in the underlying holders being explicitly stated.

[cockneyrebel] 01/6/2011 14:31

A day before the results Shroeders had 6.6%. They now have 4.2%. Those cracking results have helped them shift 2.4% of the co in under a week.

With the demand for the stock much stronger now then that last 4.2% will be gone in no time imo - fortnight at the most I reckon. Should drift higher as that clears then 'ping' upwards I'd say, once it's cleared..

CR

[davydoo] 01/6/2011 14:22

Very interesting. It's discretionary not advisory so they could just sell, but you're right they may have an awkward time explaining why. It may depend on whether the discretionary funds are subject to some form of house view, or whether someone is sat making those discretionary decisions on a client by client basis.

[sportbilly1976] 01/6/2011 13:48

Interesting rns out...Schroders remaining holding is that of their discretionary clients, not a fund.

so they would have to explain to the clients why they are sellign now at 10p instead of holding on for a potential offer at 20-25p, or for continued growth

[mustbefunny] 01/6/2011 13:34

I don't agree that it has to be imstitutions. It's only £120k, could easily be taken up by PI's.

[sportbilly1976] 01/6/2011 12:39

Schroders confirming 604k sold yesterday - so that makes 1.2mln in just two days....some are being taken by pi's and the like, but the vast majority have obviously been had by another institution

but who?

[empirestate] 01/6/2011 11:29

it has been a long wait, but am glad it is nearing my 13p on my inital buy a few years a go. feel confident that a deal will be done at a decent premuim considering the significant improvement in the underlying performance of the co.

[erniemadoff] 01/6/2011 10:35

Here here.

[edmundshaw] 01/6/2011 10:31

A good start to the month.

I've now recovered all my losses from the previous incarnation of Dawson as a glorified newspaper boy. Very rare for a share to get the chance to redeem itself like that, and quite a nice, if irrelevant, feeling!

Now for actually making some money here! :)

[cockneyrebel] 01/6/2011 10:16

Broken out through the Aug 09 high now.

13.5p is the next resistance then big gap up to 26p :-)

CR

[erniemadoff] 01/6/2011 10:08

Very nice to see the 11p mark again - it has been a long wait. The shares are still way too cheap, imo.

[cockneyrebel] 01/6/2011 09:54

Well we all seemed to be making the assumption Schroders were selling all of their holding but perhaps they were just halving it? Finished now?

On the other hand perhaps bid talks are coming to a head now the results are out and the bidders are seening the shares get away?

Or perhaps punters are just starting to realise these are ruddy damn cheap! :-)

Anyway I added this am.

Cr

[sportbilly1976] 01/6/2011 09:51

looking good here :)

davy - the way this has moved this am I would tend to agree with BBD

[davydoo] 01/6/2011 08:07

i doubt it bigbigdave, i just think there is strong demand that we're seeing these rises depsite the selling, but i still expect to see Schroders sell more.

[bigbigdave] 01/6/2011 08:04

Looks like the seller has finished selling 8-)

[cockneyrebel] 31/5/2011 17:35

Well a new recent closing high - but if these can do 2p+ eps this year the PE is still just 5 or so and the fwd PE likely to be way lower imo.

CR

[cockneyrebel] 31/5/2011 15:00

Moving well on H2, last mm left on 10.25p - must have taken a big buy or a big order imo.

CR

[jailbird] 31/5/2011 13:36

looks like it Davy,
agree with the ability to sell at mid-price is a good thing for the share price.

[sportbilly1976] 31/5/2011 13:16

If we take the 350k sold today are Schroders' stock, then that just leaves a further 1.2mln before we won't hear any further holdings rns as they would then drop under the 3% limit...

edit - forgot we're still in offer tlaks, so 1% applies - D'oh!!

[davydoo] 31/5/2011 12:59

over 350,000 already traded at mid again this morning, more Schroders selling?

[davydoo] 31/5/2011 12:49

Schroders managed to shift nearly 1% of the ordinary shares at mid price on Friday. I take that as very positive news, the fact that theyre getting that price in the first place, the fact that there are buyers soaking up this stock (including lots of buying on PLUS this am at 9.9p) and the fact that it wont take much longer and this rate of selling and they may have fully exited their position. Without that supply, any buyer will have to probably pay a significant premium to todays price.

[abc125] 31/5/2011 10:42

Odd, but i have not seen any broker upgrades following the results.

[owenski] 28/5/2011 11:19

I don't understand these institutions either, they strike me as wealth destroyers rather that creators. Operating under rigid inflexible rules, but I guess if the fund is marketed as a certain type of vehicle then maybe I can understand why they would have to comply and sell positions that might under other criteria appear unwise.

Sometimes they operate with the same logic as local government does.

I'm glad I don't use fund managers.

Ebook part of the business interests me here.