Driver Share Discussion Threads

[spooky] 11/11/2020 14:41

Think its time to celebrate, seller finally out of the way. Fingers crossed.

[networker] 07/11/2020 09:02

No doubt we will probably receive another RNS in the next day or so detailing the seller. Have they completed their sale or are there more shares overhanging the market?

[rp19] 06/11/2020 20:26

Would appear that AB Traction have added 900,000 shares to their holding. Now at 17.32%.

[dangersimpson2] 05/11/2020 16:00

That's 10.57% of the company sold at around 42p - only AB Traction and Gresham House have enough to make up that many, but they don't represent their entire holdings so may still be an overhang in place. I doubt AB Traction would sell having bought much higher recently unless they are absolutely forced sellers. I guess we will find out through RNS over the next few days.

[spooky] 05/11/2020 14:27

Interesting trades.

[spooky] 02/11/2020 18:00

Does anyone know who the seller is? They have been at it for quite a long time. River and Mercantile?

[norbert colon] 02/11/2020 16:49

https://groundbreakcarolinas.com/colossal-costs-lost-to-construction-claims-and-disputes/

[dangersimpson2] 02/11/2020 13:10

This looks like the 12:00 Investors Chronicle tip.

Nice to get some interest but probably won't do much given the apparent size of the overhang here. To move this significantly it really needs someone like AB traction to start buying in size, a big dividend or the forward guidance to be re-instated for 2021.

If we start getting real visibility of all the construction disputes we expect to be in the pipeline from earlier in the year we should be off to the races, but it certainly tests one's patience when a persistent seller keeps hitting the bid.

[cheshire man] 26/10/2020 07:32

Very happy with that trading update :-)

[redalert] 23/10/2020 09:34

Dummy buy for 5000 shares confirms that gleach

[gleach23] 23/10/2020 09:32

Although today's trade is reported as a sell, 44.9p looks like the underlying Offer price to me

[spooky] 23/10/2020 09:22

Someone is pretty desperate to get out of these, the inside news must be grim to be selling aggressively down here. Look cheap to me long term but what do i know.

[dangersimpson2] 19/10/2020 10:38

I expect a lot of courts being closed will have significantly reduced expert witness work. The company have adapted well to winning work online and not travelling will have led to some cost-savings to offset this. So I agree short-term results may look poor.

However, COVID-19 has caused so many construction delays and other issues that will drive work 9-18months later for Driver that 2021 should be a storming year.

In pretty much every other market sector such as airlines, retail & construction the market has started to price in a recovery and stocks are 2-3x off their March lows despite these companies reporting revenues down 30-70% for 2020 in most cases. I think the market is maybe overly optimistic in those cases and a return to previous highs may take longer than 2021 and hence they are now overpriced. Driver by contrast has been priced as if no recovery is coming. This presents a big opportunity if the company is right in guiding that the current COVID-19 related disputes will indeed drive extra 2021 high-margin business.

[spooky] 19/10/2020 09:44

PI sized selling and a larger seller in the background, i assume someone knows something and the imminent trading update is going to be bad. I will be interested to see what's been going on.

[norbert colon] 06/10/2020 15:59

Encouraging read across from HKA outlook statement in their accounts to Dec 2019:https://find-and-update.company-information.service.gov.uk/company/10506713/filing-history

[thordon] 02/10/2020 18:19

Well Driver is undervalued , that's true enough

[norbert colon] 01/10/2020 09:11

Will be interesting to see if the new Smaller Companies IT picks Driver Group back up again after selling out previously due to them being subscale for the larger SDL funds:https://www.sharesmagazine.co.uk/article/strong-demand-expected-for-new-buffettology-trust

[value hound] 21/9/2020 08:46

I wouldn't be surprised if these get re-tipped some time soon by Simon Thompson which would give them a fillip, but probably not up to my target of 85p :-)

[norbert colon] 10/8/2020 11:19

Seems a well considered move given I've heard over recent months at least 2-3 businesses identifying the US as a strong market and one they are under-represented in. Nice to see Driver taking action to address this.Driver will no doubt keep this operation low cost (serviced office space) and the 2 hires from BDO seem high quality.

[cheshire man] 10/8/2020 10:51

Mark Wheeler, Chief Executive of Driver Group, said : "The opening of our office in New York is a strategically important step for Driver Group. It enhances Driver's ability to serve clients in North America, working closely with our existing network of offices in Canada and providing improved access to important South American markets. We are delighted to welcome two leading experts, who have an enviable record of professional experience and expertise, to lead our new office in Manhattan. We look forward to working with them and with new clients across the Americas."

[thordon] 28/7/2020 20:31

Nice find Norbert

[norbert colon] 28/7/2020 20:17

Welcome. Anticipating a decent tail wind over the next 1-2 years.https://www.constructionnews.co.uk/legal/lawyers-expect-disputes-spike-in-october-16-07-2020/