H&t Share Discussion Threads

[aleman] 28/11/2018 16:43

RFX results out today make HAT look good value, though RFX are growing store numbers and could see better growth in future, so might justify the slight premium on P/E and bit more of a premium to book value.

[outsizeclothes.com] 10/11/2018 00:39

Picked up 2 small 2k lots for my daughters ISAs. I can see interest rates rising, so that should be very positive for H&T

[podgyted] 08/11/2018 19:57

Perhaps the lack of a TU on 3 November (or close to) has spooked the market? Perhaps one will come out tomorrow.

One thing is certain, unless there is unknown bad news, these are remarkably cheap.

Ramsdens recent TU pointed to it performing well in all areas except FX - H&T are pretty low in FX.

[patricia59] 08/11/2018 13:19

hi guys i just bought in i see no reason for the drop though

[spooky] 08/11/2018 12:18

Yes gfrae. There has been a seller around for a long time, ever since the positive update in January, i have followed it quite closely. Good news has been sold into and the MMs have been very unwilling to take on any sellers. Company doesn't have a broad institutional support so it has been inclined to be volatile but the recent selloff from 3.10 is a bit strange, particularly in view of the director share purchase. The gold price isn't an issue, the only other thing i can come up with is scepticism about the move into personal loans. A trading statement should be imminent, so we will probably find out soon, one way or the other. They are stunningly cheap on known information.

[value viper] 08/11/2018 11:51

hhhmm - maybe mkt sweating tad as update late ? could be a steal here.....
CAKE / CVR / YU. etc hasnt helped in slightest AIM sentiment .....

[muzmanoz] 08/11/2018 11:32

They've given a trading update on 3 November for the last two years. They were positive statements.

[gfrae] 08/11/2018 11:19

I could make something up,if you would prefer.
My guess is,is that there is a large seller in the background, and nasty little hedgey fund type traders who are aware of it, because they have seen the offer, are hitting the bid and trying to get short, in expectation of a large placing,or sale at lower prices.
Is that better ?

[muzmanoz] 08/11/2018 10:25

Like you I am struggling to understand. Gold price fall? Fear of regulation over loans? Seems unjustified to me. Ramsdens' directors unloaded shares in June which led to a fall in its share price from which it hasn't recovered. There might have been some read across here too.

[spooky] 08/11/2018 10:25

Thanks for that insightful post.

[gfrae] 08/11/2018 10:20

No need to guess, more sellers than buyers ! They do look very cheap ,though.

[spooky] 08/11/2018 09:56

Anyone want to hazard a guess at what is going on here - no position ATM.

[bsdjj] 07/11/2018 16:02

Why so weak?? We know the high street / retail is in a mess but surely HAT are different and somewhat insulated. It was only two months ago that the CEO himself bought nearly £80k worth at 310p....

[aleman] 29/10/2018 14:23

It's probably been behind the fall from 300p+. My gut feeling is it won't make much difference to HAT but it depends on the size of the scheme and it just adds to economic worries/market nervousness that is seeing lots of private investors sell up across the board. Even good news is seeing numerous shares fall. It's what bear markets do.

Or put another way, the news was never going to help drive the shares up any!

[goldry] 29/10/2018 13:50

Is the potential offer of zero interest loans in the budget, to help people in debt to pay day lenders, affecting the share price today?

[scotches] 17/10/2018 17:40

The fall in gold didn't help but it was the inability to service the £50m+ debt was the ABM killer after it expanded too rapidly. This was allied to greedy and incompetent management who jumped ship when times got difficult, but not before lining their pockets.



"...despite sending the company to the brink of collapse, former chief executive Barry Stevenson managed to nearly double his pay packet before taking early retirement this year — including a £331,000 pay-off, according to the latest annual report.

Despite Albemarle’s continuing problems, former chief executive Barry Stevenson managed to walk away from the company with £631,000 this year, up from his salary of £345,000 in 2012."

[essentialinvestor] 17/10/2018 17:28

ABM was largely incautious expansion from memory,
it was a while back now. I remember ABM being very fond
of highlighting the growth in their pledge book.

[essentialinvestor] 17/10/2018 15:28

I hope so, bought a small amount.

[spob] 17/10/2018 15:24

I am quite certain HAT and RFX have learned from the mistakes of ABM

[kazoom] 17/10/2018 15:22

I had completely forgotten about Albemarle EI , not that I was invested there, but I do recall considering them.

Quite chilling reading back on the RNSes.



From things seeming reasonably okay in Feb 2013 to bust in March 2014 (earlier it seems in reality although they managed to keep the lights on for a while). Largely driven by a significant fall in the gold price.

I don't think H&T are nearly as exposed to the gold price, but it perhaps goes some way to explain the lowly valuation here.

[spob] 17/10/2018 15:13

Increased my holding by approx 50% today


It's a bit daft to be selling this one down

if the economy takes a nosedive, HAT will thrive

[essentialinvestor] 17/10/2018 13:48

Must say I'm tempted here.

Been cautious on the sector following the Albemarle & Bond disaster
a few years back.

[aleman] 17/10/2018 13:43

Expanding a loan book means giving cash away - but it makes a gross profit and comes back later ... unless you make a complete pig's ear of it. Plus, they've probably been putting a little cash into the luxury watches. Again, it should come back in time. If and when they stop growing like this, they will be able to increase the dividend more quickly. However, I'm quite happy for the dividend to rise slowly so long as we keep seeing EBITDA expanding nicely to fund the increasing loan book, etc.

[rndm355] 17/10/2018 13:09

That’s because when you make a loan you have to give cash to your customer!