Are their US sales big enough for tariffs to become a problem when implemented? Or do they have US-based production facilities to get round that? |
I agree. A few weeks ago it was on a shortlist I had drawn up for a downbet, and I couldn't' convince myself it would continue down in the short term, so I took no position and still haven't. But it does sound like the company itself doesn't understand why it's falling and I didn't see any signs of inspiration in its trading update
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EDIT: Deleted my last PS I added - That wasn't Focusrite, it was G4M. Wrong page! |
I don't think TUNE's a bad co, tho pains me to see Covid still being mentioned:
"Our Audio Reproduction division is experiencing headwinds in a softening market following a post Covid boost, as indicated at the FY24 results..." |
HJFe3 Dec '24 - 11:57 - 584 of 586
0 1 0
Chart looking bullish now.
Devonlad3 Dec '24 - 13:32 - 585 of 586
0 1 0
Very bullish, nice gap to fill to 350p, target price £4.
HJFe3 Dec '24 - 15:20 - 586 of 586
0 1 0
Agreed - strong upside from these levels.
Well, you guys certainly put a curse on it!
Dec 3 was the high point, since when it's plunged by more than a third.
It did climb strongly by 56p to get to that high - so it does occasionally wake up and sprint. (It's done that in Q4 for 5 of the last 6 years I notice)
It's now back to where it was in November 2016. |
Agreed - strong upside from these levels. |
Very bullish, nice gap to fill to 350p, target price £4. |
Chart looking bullish now. |
Reaction on the day is positive so far. That seems more to do with ongoing rebound from last month's low point than any straight assessment of the numbers which themselves don't justify a rise. |
Disaster share! |
Higher than forecast debt is disappointing but not a significant worry going forward. We will have to wait for the results in November for the details. |
 So revenue in line, but the net debt position is substantially worse than previously guided;
"As of 29 February 2024, the Group had net debt of approximately £26.0 million (31 August 2023: net debt £1.3 million), with the increase mainly attributable to the impact of working capital phasing across debtors and stock, and with one-off impacts of approximately £5 million due to investment in future technologies and recent acquisitions. This position is expected to largely unwind in the second half of FY24 as our working capital improves and to be close to net cash by the year end."
vs today
"As of 27 August 2024, the Group's net debt has improved to approximately £15 million (29 February 2024: net debt of £27.3 million). The Group has £50 million of committed credit facilities which provide strong liquidity for ongoing operations and any potential M&A activity."
Not good. It really is shocking that a business which enjoyed such a boom during 2020-22 didn't ensure it's balance sheet remained strongly net cash. If they start doing more M&A from the current position then it would put the company in significant danger IMO. |
Oh dear another 18% shaved off the price today.. |
Liontrust continues to add slowly. They started the year with 12% and have just crossed 14% |
552,986 trade at 300p today may indicate our seller causing the recent price fall has cleared. |
There was an auction on L2 at 13:50. A 75,000 sell order appeared at 340p and a 74,000 buy order at 310p. Both were labeled LSE.
Average daily volume is 35k this week so TUNE may be being controlled within that range. |
Agree, nice to see some buying. Naysayers would say seems a bit of an orchestrated effort to prop up the share price after a significant fall and not huge amounts bought. Let's see where we are after the further update at the end of April. |
Good to see some director buying at these low levels.
Dominic Harter Managing Director of Optimal Audio Group Limited 290.000p x 3,048
Timothy Carroll Group CEO 295.260p x 3,386
Timothy Dingley Managing Director of Focusrite Audio Engineering Limited 294.89p x 3,725
Lisa Hawley, a person closely associated with Damian Hawley Group Chief Revenue Officer 299.000p x 6,655
edit: Liontrust added earlier as well |
Unusual to see Keith Ashworth Lord selling given Buffettology fund principles. 12 mths ago TUNE was a top 10 holding, awful run since and no doubt he's having a decent number of fund redemptions given Buffettology's mediocre performance in recent yrs. I like Focusrite brands but I can't buy with the current management team who seem unable to manage one forecast to the next. Still puzzled about why the channel stock issues flagged in the March update weren't mentioned in the January update given they seem to have happened at the end of the last FY. |
RP19. I misread the notification. A 5% sale is 3m shares.
Nortrust still have another 3m they may want to sell.
Also a director purchase notification after yesterday's close:
CFO Sally McKone buys 6900 with a total value of £19,926.50 |
Darrin1471 - Excuse my lack of knowledge, how does this work in practice? Does this leave a very large number of shares on the books of brokers 'waiting' to be sold? Or, is it more likely that another institution has bought some/all of them? |
Nortrust Nominees reduce from 9.97% to 4.95%
Around 3m shares.
Only just over 5m traded in TUNE since January 1st. |
Yesterday's update wasn't pretty, but do shares really deserve to be trading below mid 2017 levels when they reported revenues of £66m, adjusted EBITDA of £13m and operating profit of £9.5m?
Since then they've spent £97m on 6 acquisitions, most of which have performed well when you look at the revenue segmentation which TUNE discloses in their financial reports.
There were some huge bids in yesterday's closing auction & I suspect there will be US buyers interested at these levels. It's too cheap down here IMO. |
I've bought in this morning for a recovery but also a long term hold. |
Wow thats a bad fall. |
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