Foxtons Share Discussion Threads

[yorked] 04/10/2021 08:48

Sold my 40k shares at 53.14p on 25 August for a princely buy-back profit of £33, still hold the cash from the proceeds but may pick up a few if the price stays depressed or it goes lower.

PS: the share price went back to over 56p the next day after my exit.

[bad robot] 01/10/2021 14:25

30K buy ain't going to help this dog.

Smart shorter letting then repurchases stock then everyday walk it now. So they have numis as a guaranteed buyer. That's easy short around when you have only one buyer.

They will close it down in auction. Why not buy repurchase stock in an auction instead?


One million CEO buy can move it !

[boozey] 01/10/2021 13:54

Welcome purchase by a Director. Company is out of favour because of arrogance of CEO who took a £1M bonus despite Foxton's taking government money. He honestly needs firing for this. No moral compass at all and sets a bad example to employees, customers and investors alike. The Board should have stood up to him and told him rethink on this. I have a small legacy holding but would never invest more while current CEO is in situ.

[stupmy] 13/9/2021 09:54

I've added this morning. Looks like it might be about to rise from a TA perspective. May very well add more in the coming days.

[yorked] 06/8/2021 19:19

One of the best days this year with FOXT heading north and CPI up 11.3%.

[bad robot] 03/8/2021 15:15

More more more

GIMME MORE GIMME MORE GIMME MORE!!!

BR
IN BR WE TRUST
RED MERCURY CREW.

[yorked] 29/7/2021 07:13

We had £3m share buyback early this year, FOXT bought back 4.996m shares on an average price of 58.12p.

Meanwhile the 0.18p dividend will only return £600k to shareholders.

[yorked] 28/7/2021 15:34

129p valuation is very encouraging but it is not something I would contemplate now. I did top up last week under 48.50p and think we should see low 60s soon.

[bad robot] 28/7/2021 14:15

Booyakasha

BR
IN BR WE TRUST
RED MERCURY CREW.

[tole] 26/7/2021 19:47

https://masterinvestor.co.uk/equities/small-cap-round-up-featuring-dwf-premier-foods-foxtons-and-more/Foxtons (LON:FOXT) – interims due this Wednesday, mortgage arm disposal and record rental demand in June and a 129p valuation on its shares, now just 50p eachYou would have to be blind to not have seen that property sales have been going through the roof.We now know that the June house sales figures hit a 30-year high as the market was driven by the lower-level stamp duty suspension coupled with the very low mortgage rates now on offer.What is more it is now assumed that as the lockdown restrictions lift and as employers get their staff back into the offices again, there may well now also be rising rental demand.In fact, I understand that Foxton's estate agents registered a record number of new tenants in June.And something worth noting is the fact that 75% of the lettings revenue of Foxtons is considered to be recurring – oh yes I love it more now and it is growing.At the same time as the leading estate agency group in London announces its interim figures on Wednesday of this week, I wonder whether we might also get an update on just how well it is getting on with selling off its Alexander Hall mortgage broking and conveyancing business.I understand that it has been on the market for a couple of months now, but as yet, we have no update on how those disposal negotiations are proceeding.Unfortunately, the group has not yet announced a possible date for its interim figures. However, last year they were published on 28 July – on double checking I have not been able to see any declaration by the company of the date that I have mentioned. But I must have got the date from somewhere, so please treat it as 'possible'.Whether Foxtons join the band of agents now looking to charge prospective homebuyers around £30 for a viewing – in an effort to reduce nosy neighbours and time wasters – I really do not know but that question could well be asked by analysts this Wednesday.Estimates are in place for the current year to end-December to see revenues increase from £93.6m to £130.1m and for the previous loss of £0.1m to be replaced by a massive £9.5m pre-tax profit, worth 2.5p per share in earnings, with a 0.5p per share return to the dividend list.For next year, estimates suggest nearly £138m of sales and £12.5m of profits, worth 3.3p in earnings and a 0.8p dividend per share.Analyst Andy Murphy at Edison Investment Research currently has a 129p per share valuation on the group's shares, now just 50p each.It could be worth taking advantage of the pre-announcement bargain price to either buy in or top up holdings.

[tole] 21/7/2021 06:46

https://www.mortgagesolutions.co.uk/news/2021/07/20/foxtons-looks-for-buyer-for-mortgage-broker-alexander-hall/Foxtons looks for buyer for mortgage broker Alexander Hallby: Samantha Partington20/07/2021 • 0Foxtons looks for buyer for mortgage broker Alexander HallLondon estate agent Foxtons is in the process of finding a buyer for its independent mortgage advice arm Alexander Hall. Several mortgage advice firms have been approached by third parties acting for Foxtons with marketing packs targeting the acquisition of the Alexander Hall in the last two months.Mortgage Solutions understands that Clearwater, an adviser brokering the deal for Foxtons, has drawn up a prospectus to show to eligible mortgage advice businesses.Clearwater is a corporate finance house that specialises in mergers and acquisitions, debt raising and refinancing.One source, who has been approached with a prospectus but has declined the proposition because they are not planning to expand, said to be an attractive deal the transaction would have to come with a mandate relating to the ongoing relationship between the two businesses."Any acquirer of the business would be looking for reassurance that Alexander Hall's relationship with Foxtons to serve its estate agency branches would continue," said the source. "Perhaps in the region of a 10-year service agreement."One broker firm thought to be an interested party is Pivotal Growth, a new intermediary established as part of a £200m joint venture between LSL and investors Pollen Street Capital.Simon Embley stepped down as chairman of LSL Property Services to join Pivotal as chief executive in April.Through funding from LSL and Pollen Street Capital, Pivotal is armed with a war chest of close to £100m to support acquisitions.Mortgage Solutions asked Foxtons to confirm the sale of Alexander Hall but it declined to comment.Clearwater declined to comment.LSL said it would not comment on market speculation.

[yorked] 19/7/2021 08:47

From today's Guardian......

‘Frenzied buyer activity’ drives UK house prices to new high
Property site Rightmove says it expects official figures to show June was busiest month ever for sales......

[stupmy] 13/7/2021 12:23

Well it looks as though the share price is currently rejecting further downside. Hopefully the tapering of the tax incentives is priced in. Time will tell I guess.

[stupmy] 08/7/2021 14:45

Im'hoping that was the first tick up indicating a change in direction. I dropped half, but have retained half and for the moment am happy to buy back and potentially increase.

[dt1010] 05/7/2021 18:06

I am buying here now. Any reasons not to? Technically a falling wedge should break upwards. Lets see.

[stupmy] 02/7/2021 13:16

Personally it seems to be well worth paying attention at the moment. Fell back to 58 but is moving ahead now to 60 and above. It's challenging a descinding tl resistance on the daily chart. It could mean that someone has started to accumulate. I do hope this is not a self fullfilling fantasy where I convince myself that the share price will move up, start buying and it moves up. Not much profit in that.

[stupmy] 01/7/2021 13:44

SP has drifted down for a while now. Starting to look as though the drift is over as the price is pepping up now. 59p as I type. I've been buying in the hope the rot is done for the moment.

[strollingmolby] 22/6/2021 15:19

And more positive noises from management on the Capital Markets Day on 3 June, with plans for expansion with 'virtual' regional offices and establishing in more UK cities. Time will tell if they can take this in their stride and not be seen to expand for the sake of it to pacify shareholders agitating for change.

[strollingmolby] 22/6/2021 14:29

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 14:27

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 14:49

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.