Frp Advisory Share Discussion Threads

[pyemckay] 09/12/2016 16:37

rights issue almost a certainty now

[carcosa] 09/12/2016 16:31

It's the "financial position" that has spooked the market. Banking covenants, for example.

[felix99] 09/12/2016 16:25

costs of closing the debt business will be high - FCA wont let them just shut up shop on a set date - they will have to run it out for months passing clients on in an orderly fashion to the free sector who cannot cope with stuff as it is never mind the deluge from FRP and others either voluntarily getting out of the game - or being closed down by FCA!

[pj 1] 09/12/2016 16:18

Strategy not working is the fear....

[value hound] 09/12/2016 16:15

I've bought some at 25p. Crazy price drop.

[sportbilly1976] 09/12/2016 16:13

thats a big, big drop on a warning....

[pj 1] 09/12/2016 15:49

And there is your reason....materially below.....

[pj 1] 08/11/2016 19:58

I agree. It looks too good to be true..so....

In all seriousness, it takes a brave person to buy that chart

[kop202] 08/11/2016 19:23

PJI've only got a small holding which I bought at 63p after a previous share price fallThe latest move down some 8% on no news and then in the morning trading up 3.9% only to finish well down on the dayThe pe is now 4!A slow down in the housing market is well and truly priced on

[pj 1] 08/11/2016 18:53

KoP2028 Nov '16 - 18:37 - 544 of 544 0 0
You have to smile the the the MM'S (market manipulators ) behave
===================================================================================


Well KoP202, your Market manipulators have been doing it (manipulation) for 12 months now since 180p down to 60p.

I would not call that manipulation. But you hang on in there with a smile on your face.

[kop202] 08/11/2016 18:37

You have to smile the the the MM'S (market manipulators ) behave

[cwa1] 08/11/2016 08:15

Hoping, but not expecting, that there is some decent value at around this price level and that we might be near the bottom of the cycle. As a result I've grabbed a few. Wasn't as much stock about as I expected for a stock that seems on its knees, had to work to get the few that I went for. Fingers crossed now.

[carcosa] 07/11/2016 16:03

I posted something here (nothing new at all) but might generate a response with new info:

[solrei] 07/11/2016 15:18

Me too. Pretty nasty fall

[gostevie63] 07/11/2016 15:17

Still here... unfortunately.

[imranawan] 07/11/2016 14:46

Anyone still invested here, or has everyone bailed. Off another 10% today.

[speedsgh] 14/10/2016 12:51

From John Rosier's Private investor’s diary on the IC website...

"...The other stock to cause damage was Fairpoint (FRP), which has nearly completed the transition from a debt servicing company to a legal services group. It fell 22.6 per cent during September, with most of the fall coming after the half-year results on the 15th. Those results led to earnings estimates for the full year being reduced by around 12 per cent. It said it expected the second half profitability to be in line with the first half’s and as well as maintaining the dividend it reassured on its commitment to paying a rising dividend in the future. On current consensus forecasts the shares are valued at 5.0 times 2016 earnings, falling to 4.7 times 2017 with a prospective 2016 dividend yield of 9.9 per cent.

Clearly the market does not believe these figures. There is a risk that 2016 earnings estimates will be reduced again if a recovery in its conveyancing business, which is dependent on UK housing turnover, fails to materialise. At current levels I think the share price reflects the disappointment from earnings downgrades this year rather than the company’s potential. Although it is difficult to see a catalyst in the short term, it will not need much good news to get the share price moving..."

[speedsgh] 13/10/2016 14:30

New Equity Development note released today...

Whiplash reforms parked -

Press coverage this morning states that a previous source of concern over
group earnings may have gone away. This related to changes, proposed by
George Osborne in his Autumn statement last year, to reform the UK’s
compensation culture around minor motor accident injuries, specifically the
operation of whiplash claims.

These proposed reforms, which sought to ended the right to cash compensation for minor whiplash injuries have apparently been shelved. If they had been implemented they were expected to cut average motor insurance premiums by up to £50 pa.

We had previously argued that the risks to Fairpoint had been overplayed. Specifically, our 19 September update:
 Noted that the implementation timetable was well behind the critical path for a scheduled April 2017 start
 Reaffirmed our view that Fairpoint’s legal processing centre gave it a competitive advantage which, post reform, should put it in a position to manage the legal work generated under any new structure at low cost.

According to press reports this morning these reforms have been set aside by the government, indeed the insurance industry has concluded that they will never happen.

The Ministry of Justice confirmed that the whiplash changes are not a priority but claims reforms are “not off the agenda”. According to the insurance industry the consultation is being blocked by Whitehall due to opposition from ministers and the legal profession, and the need to prioritise government time ahead of Brexit negotiations.

This reform may be revisited at some stage.

In conclusion
We recently adjusted our forecasts for Fairpoint in the light of their strategic decision to focus on the growth and margin opportunities in Legal Services.

On those new forecasts the prospective yield on the shares is a remarkable
10% and the PER just 5.0x …and that is for the current year to Dec 2016.

[speedsgh] 11/10/2016 10:33

Wife of the MD of Simpson Millar LLP, which was acquired by Fairpoint in June 2014, has been selling. Not the greatest amount but also not the greatest vote of confidence!

Persons Discharging Manager Responsibilities (PDMR) Notification -

EDIT - sorry Sportbilly. You beat me to it by a minute :o)

[sportbilly1976] 11/10/2016 10:32

Mrs Watson sold a few more shares, 25k on the 7th and just under 3k yesterday

[larva] 07/10/2016 07:20

did tenon go bust? is this liketenon? some of the over paid horses will leave soon enuf and sell their shares

[rogash] 06/10/2016 13:57

I wish there were a few director buys, but I think the reason for todays rise is down to Paul Scotts comments in an interview with IG.

[sportbilly1976] 06/10/2016 13:39

I wonder if the 71k trade is a Director purchase...new CFO started recently, might be his opening buy?