Foxtons Share Discussion Threads

[strollingmolby] 22/6/2021 15:29

A little activism wouldn't hurt here...

More dissent over Foxtons’ performance among key shareholders
Hosking Partners, which holds a 11.3% stake in Foxtons, has written to the agency's chairman to complain about its poorly performing share price.

The battle for control over Foxtons future direction has taken a new twist after it has been revealed that major shareholder Hoskyn Partners has written to the estate agency’s chairman Ian Barlow outlining its dissatisfaction with the company’s performance.

The city fund, which is run by prominent Brexiteer Jeremy Hoskyn (pictured), recently increased its holdings in the company from 10.93% to 11.21%, making it one of the largest shareholders in the estate agency.

Hoskyn’s letter to Barlow outlines concerns over Foxtons share price, which has fallen from a 2014 high of £4 a share to 59p today, and remains a third lower than its pre-Covid price of 93p a share.

The complaints come despite the launch of a radical expansion plan by Foxtons’ C-suite team on Friday which includes using tech to increase profitability and opening virtual offices in the Home Counties and 15 cities around the UK.

But Hoskyns is not the only shareholder unhappy with the company’s performance.

Robin Paterson’s investment fund Catalist Partners, which holds a much smaller number of shares in the company, last week launched its own broadside against the Foxton board.

A Hoskyns spokesperson told The Times: “Hosking Partners believe the time has come for radical board-level change at Foxtons.”

The estate agency told the newspaper that: trading had been strong and that it “has a clear plan for growth and the board has total confidence in the executive team’s ability to deliver on the strategy”.

[yorked] 14/6/2021 15:27

Sold 20k at 61.50p 5 weeks ago and have now bought them back under 57p, a tiny & net 4p gain.

[porsche1945] 07/6/2021 15:49

Management just utterly dire, using company as a pigs trough and should probably be locked up. See from article in Times yesterday 11 per cent fund holder has had enough and contacted chairman. It is a given that U.K. companies are sxxt capital destructive rubbish but this is in a league of its own management must go.

[porsche1945] 07/6/2021 15:39

Management just utterly dire, using company as a pigs trough and should probably be locked up. See from article in Times yesterday 11 per cent fund holder has had enough and contacted chairman. It is a given that U.K. companies are sxxt capital destructive rubbish but this is in a league of its own management must go.

[porsche1945] 07/6/2021 15:37

Management just utterly dire, using company as a pigs trough and should probably be locked up. See from article in Times 11 fund holder has had enough and contacted chairman. It is a given that U.K. companies are sxxt capital destructive rubbish but this is in a league of its own management must go.

[tomps2] 03/6/2021 09:34

Paul Scott mentions Foxtons (FOXT) at 24m40s in the latest piworld Interview.

Watch the video here:

Or listen to the podcast here:

[paulisi] 03/6/2021 08:02

Expect a re-rating in the next couple of days, price is undervalued.

[ny boy] 03/6/2021 07:52

Under valued for a while imo

I have a taken advantage of the weakness since the pandemic started.

HOLD!

[tole] 03/6/2021 07:06

Since the Group's Trading Update on 14 April 2021, trading momentum within the business has continued to be strong. Following a 49% increase in Foxtons Q1 sales revenue versus both 2020 and 2019, the sales commission pipeline has continued to grow and is now 65% ahead of last year and 17% up on 1 January 2021(1) . As a result of the strong trading momentum, adjusted operating profit for the first half of the year is expected to be significantly ahead of both 2020 and 2019.

[harleymaxwell] 02/6/2021 01:42

bit more volume than usual and a move up!

[strollingmolby] 10/5/2021 14:52

'Fear of missing out' fuels record house prices in April

[tonysss13] 23/4/2021 10:12

hxxps://www.betaville.co.uk/betaville-intelligence/uncooked-alert-foxtons-said-to-part-2/

UNCOOKED ALERT: Foxtons said to ... - Part 2
Wednesday, 21 April 2021, 4:08 pm
Catalist Partners, the activist property investor, is rumoured to be looking at Foxtons, the UK-listed estate agent.

People following the situation have heard rumours Catalist was the firm examining Foxtons back when the original takeover rumours were first on Betaville Intelligence in February.

However, it's not clear whether Catalist is interested in initially buying a large shareholding, it recently disclosed a 2pc holding in Foxtons, or considering an offer for the whole company, said these people following the situation.

Catalist, which was co-founded by entrepreneur Robin Paterson, has a strong track reocrd of taking activist positions in London-listed property companies and agitating for change.

The firm bought a sizeable holding in Countrywide and led an attack against the company's management, which eventually resulted in a sale of the business to rival Connells for £134 million in February.

Foxtons is currently buying back shares, purchasing 50,000 shares on April 20 as part of a share buy back scheme launched in December 2020.

That would suggest that, if Catalist is interested in an outright buy-out of Foxtons, it hasn't yet approached Foxtons about a deal.

Catalist didn't respond to requests for comment from Betaville.

To be clear, the above story is UNCOOKED. In case you don't remember I have pasted the definition of UNCOOKED below:

[bad robot] 21/4/2021 16:16

WAZZUP People

Big chunks hitting sell side, leak?


BR
IN BR WE TRUST
RED MERCURY CREW

[stupmy] 15/4/2021 08:20

Anaemic response to yesterdays results. I'm still out and haven't missed anything yet, but I could be tempted back in soon. For the moment I still have the share price in an uptrend on the 24 and 2h charts. share price is consolidating in an triangle (pennant?) formation at the moment. I'll see how that develops, but more often than not share price comes out of such formations the opposite to which it enters them. Waiting game still for me.

[dennisbergkamp] 15/4/2021 01:11

Boozey,

Totally agree but I wish holders here luck.

D

[boozey] 15/4/2021 00:22

I am already in from long ago Dennis - but I agree with you in principle, and institutional investors have a high moral compass these days too - witness the disaster of an IPO at Deliveroo. If you disregard investor sentiment it will come back to haunt you. Budden is clearly either too thick, too arrogant or too pig-headed to care (or a bit of all of them). I also lay blame at the door of the Non-Exec team here too. What were they thinking of allowing this mess. Anyway rant over! :)

[dennisbergkamp] 14/4/2021 23:56

Ethically, no way I can invest in this.

D

[boozey] 14/4/2021 22:53

I see Budden took £1M bonus for Foxton's performance in the last financial year - during which the company took government financial support. Absolutely outrageous. The Non-Execs should have advised him not to take it or resigned in protest. Too many Non-Execs are nodding dogs. Budden should be fired for being completely insensitive to the point of ignorance. Let's hope some of the bigger investors, or even Soros, put him straight. No wonder the share price retraced today.

[ny boy] 14/4/2021 07:44

Should see strong gains after those nos, definitely v happy with all my accumulating over the dark days of the pandemic it’s been a tough winter but the outlook looks much better.

Not long before we are in triple digits again

PURP has just started a move higher so strong holds for that and here. GL

[deeppockets] 14/4/2021 07:32

Q2 last year must have been dreadful so beating H1 2020 is easy! From what I hear property market is booming so should be good news for next few months

[farrugia] 14/4/2021 07:24

'As we look forward, the strong trading momentum is expected to continue through the second quarter and together with tight cost control gives us confidence that operating profit for the first half will be significantly higher than last year".'

[paulisi] 14/4/2021 07:11

Excellent trading statement.Should see a jump this morning.

[bad robot] 13/4/2021 20:39

Genuine Gamblers


BR has a 150p target on the Fox. Loaded 90K shs sub 60p.

Enjoy getting rich together with BR's Crew.

BR
IN BR WE TRUST
RED MERCURY CREW