H&t Share Discussion Threads

[value hound] 10/2/2022 18:49

CWA1

Tavistock Investments TAVI
Vector Capital VCAP
H&T HAT
Tekcapital
Billington BILN
Conygar CIC
Henry Boot BOOT
Sylvania Platinum SLP

[cwa1] 10/2/2022 18:41

If not TOO rude, who else made the list please?

[arthur_lame_stocks] 10/2/2022 18:30

I wondered why the price was up today.

[value hound] 10/2/2022 18:01

Included in Simon Thompson's Bargain Shares for 2022 who concludes with "A premium to book value is a far more appropriate valuation for the group and a target around 400p a share seems reasonable. That price equates to 10 times 2023 projected earnings and is underpinned by a forecast 16.5p-a-share payout. Buy."

Specifically re the FCA stuff, he says: "Admittedly, H&T’s £2.6mn personal loan book continues to reduce as repayments, recoveries and lower impairment charges more than offset new lending. This is in line with the group’s strategy after it stopped lending high-cost short-term credit (HCSTC) unsecured loans after the Financial Conduct Authority (FCA) launched a regulatory review of certain aspects of this business in the autumn of 2019.

The uncertainty over any financial redress on the group’s previous HCSTC lending activities is one reason why H&T’s shares are trading 17 per cent below book value of 341p a share, but with conclusion of the FCA review imminent, a line is set to be drawn under the matter."

[outsizeclothes.com] 07/2/2022 22:28

With all the "extortionate rate payday lenders" now out of the way, HAT's market is huge, and likely to grow as interest rates go up further.
The FCA is likely working with HAT to try to make a legitimate alternative to Loan Sharks, but trying to allow for the default potential, and that's what's taking the time.
In such a case, I can see the FCA handing HAT a nominal fine, knowing that if the take HAT completely out of that market, they open the door for organised crime to step in.
They'll also issue a strong "don't do it again, as we're watching, and will have to be seen to be watching going forward"

[zchaka5] 17/1/2022 09:08

Indeed, I'm struggling to imagine what this appointed skilled person and the FCA are doing week in week out. It's taken them several years to complete an exercise that should have taken months at most.... and it's still not complete.

[tiswas] 17/1/2022 08:44

Steady as she goes but presumably held back by the FSA investigation in to the HCST loans business.

[ymaheru] 04/1/2022 15:31

Looks like higher use of credit, so better business environment for HAT:

Consumer borrowing on credit cards jumped to its highest level in more than a year in November, much higher than expected.

Inflation, energy costs, higher interest rates, less lockdown all blamed.
Money put into savings accounts plummeted 60% from 12 month average.

Savings still seem high, though. Looks like environment improving for pawn, but only so much.

[scotches] 19/11/2021 12:56

The FT list of major holdings has Close with 9.2% in Feb. Don't know why today's update doesn't mention.



Institutional shareholdersTop holders
60.08%

Per cent of shares held by top holders

Artemis Investment Management LLP
AS OF 04 FEB 2021
5.08m 12.74%

FIL Investment Advisors (UK) Ltd.
AS OF 26 FEB 2020
3.97m 9.96%

Close Asset Management Ltd.
AS OF 04 FEB 2021
3.67m 9.20%

Camelot Capital Partners LLC
AS OF 04 FEB 2021
2.66m 6.68%

Octopus Investments Ltd.
AS OF 04 OCT 2021
2.58m 6.47%

Fidelity Management & Research Co. LLC
AS OF 29 OCT 2021
2.22m 5.57%

Hargreaves Lansdown Stockbrokers Ltd.
AS OF 04 FEB 2021
1.14m 2.87%

Sanford DeLand Asset Management Ltd.
AS OF 01 SEP 2021
985.00k 2.47%

Henderson Global Investors Ltd.
AS OF 01 SEP 2021
978.00k 2.45%

Hof Hoorneman Bankiers NV
AS OF 01 SEP 2021
665.00k 1.67%

[tole] 19/11/2021 12:34

Close Asset Management Limited have announced they've taken a new 10% holding. Wonder where those shares came from?

[lord loads of lolly] 21/10/2021 10:27

Yes, unfortunate. But I guess any business has to deal with the unexpected from time to time. The government will clearly resist a further lockdown if it possibly can. Though why it doesn't make mask wearing compulsory again indoors is quite beyond me. Almost like some ridiculous machismo stance, trying to prove England is stronger than the other UK nations. Sure to backfire as soon as they u-turn on it, which - I believe - is inevitable. And imminent.

[scotches] 21/10/2021 07:49

The FCA are themselves to be investigated over possible faulty advice.

The FCA delay and possible re-instatement of covid restrictions are depressing the share price here on what would otherwise be favourable background conditions.

[scotches] 20/10/2021 12:36

Unless the company has been engaged in an industrial scale of faking reviews it has a particularly high trustpilot score from satisfied customers. uk.trustpilot.com/review/handt.co.uk

[lord loads of lolly] 19/10/2021 15:19

Once the investigation's complete, I'm guessing they'd be legally bound to update the market immediately. It's market-sensitive info after all. So the fact we're still waiting suggests the investigation's ongoing. Perhaps they've run out of shovels! I'm not unduly concerned though, as I suspect anything but a real left-field conclusion is already priced in. But I agree it would be nice to move on - & hopefully enjoy a post-FCA bounce.

[outsizeclothes.com] 19/10/2021 10:39

I do wish this investigation was out of the way, be done with it, and let the shareprice move on.
Unless they're digging up the floorboards, they're bound to have finished months ago, Covid or not !

[thorpematt] 10/8/2021 19:19

I have posted the 21 day MA here too(we're a little bit above that I'd say).

The 21day MA is quite important since it shows a keen correlation with HATs price action.

Also (in case you didn't already know) there are on average 21 trading days in each calendar month (which makes it quite popular with traders)

Looking at resistance levels, there are a few targets on the way back up (to where this should be).


free stock charts from uk.advfn.com
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[thorpematt] 10/8/2021 19:10

As we know, breakouts are all very well, but we need to see volume.




........



free stock charts from uk.advfn.com
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Yep, we have some volume :-)

[tole] 09/8/2021 19:34

Strong write up in the IC by Simon Thompson should see some follow through with his followers tomorrow.Nice summary in sharesmag too.https://www.sharesmagazine.co.uk/news/shares/pawnbroker-ht-pleases-with-better-than-expected-first-half-profits-and-dividendTHE SHORE CAPITAL VIEWA Financial Conduct Authority (FCA) review of the credit worthiness, affordability assessments and lending process within H&T's High Cost Short Term loan (HCST) business, ongoing since 2014, is taking longer than expected.While this creates uncertainty, Shore Capital believes that 'any potential redress costs and penalties that may be incurred will be manageable within the context of the group's financial resources and should not materially affect future growth prospects'.The broker believes H&T is 'well positioned to benefit from a post-pandemic pick-up in demand while also noting that quite a lot of capacity has recently exited the non-standard lending industry. Consequently, we are optimistic on the outlook for the remainder of the year and beyond.'Shore Capital stressed H&T's 2021 earnings are 'likely to represent a cyclical low point' and sees 'strong recovery potential from here. Perhaps of greater note, the shares are trading at a slight discount to their tangible net asset value of £114.4 million as reported at 30 June 2021, despite this being backed by conservatively-valued assets, in our view.'

[thorpematt] 09/8/2021 16:56

Yes a dizzying update this. Bargain is a word which springs to mind.

The strategy of moving away from those HCST loans should ensure regulatory concerns are in the past.

It also looks as if the other areas are either showing a return to pre-pandemic levels or strong growth.

looking at a fair valuation a much stronger PER has to be applied IMV.

[cwa1] 09/8/2021 16:35

Tweeted by The IC...


On the bargain hunt
A cash-rich financial services firm is benefiting from strong retail demand and is starting to rebuild its lending book. A cash-adjusted forward price/earnings ratio of six and prospective dividend yield of 4.4 per cent are likely to attract retail buyers, too.
August 9, 2021
By Simon Thompson

[lord loads of lolly] 09/8/2021 09:49

Today's 6 month interim results look pretty good. Though it's harder to compare with 2020 in a way, as both years had different periods affected by lockdown. I'm particularly pleased the dividend has significantly increased (LY: 2.5p TY: 4.0p) and see this as a big vote of confidence from management. On the downside, the outcome of the FCA review sounds as far off as ever: "Further updates will be provided in due course although it is not currently possible to put a timescale on completion of the review by the FCA, nor completion of the subsequent testing work by the skilled person". This - and any wobbles in pledge lending bounceback - will be the main potential headwinds for now.

[cwa1] 09/8/2021 06:22

H&T Group plc today announces its interim results for the six months ended 30 June 2021.

HIGHLIGHTS

-- Profit before tax GBP4.7m (H1 2020: GBP5.0m), a robust performance against a background of Covid-19 related trading restrictions from January to April and reduced high street footfall throughout the period

-- Daily average pledge lending back to c.90% of pre-pandemic levels, recovering strongly with continuing month on month momentum

-- Pledge book up 3.9% to GBP50.2m as at June (Dec 2020: GBP48.3m)
-- Retail sales up 26.5% to GBP12.4m (June 2020: GBP9.8m) at improved margins. Retail gross profit up 139.3% to GBP6.7m (H1 2020 GBP2.8m)

-- Cash balances GBP32.5m (June 2020 GBP12.9m net)
-- Net Assets up GBP9.0m to GBP135.9m (H1 2020: GBP126.9m)
-- Interim dividend increased to 4.0p (H1 2020: 2.5p)
Chris Gillespie, H&T chief executive, said:

"H&T has traded strongly since April's progressive relaxation of the pandemic restrictions. Pledge lending is steadily returning to normal levels and demand for our value for money, high quality jewellery and watches has been particularly strong.

"Right across the business, our colleagues have done an amazing job throughout the pandemic, ensuring we meet customers' needs whether in stores, over the telephone or increasingly, online. Both our websites are now refreshed, and we continue to invest in improving our IT systems to better support colleagues, and in expanding our reach and appeal across all appropriate channels for our customers.

"The positive trading momentum seen in the second quarter has continued in the third quarter with further growth in the pledge book to GBP52.2m as at 31 July 2021. We enter the second half of the financial year with growing confidence."

[lord loads of lolly] 02/8/2021 14:51

Repeat delays in outcome of FCA review are entirely down to FCA. I could be wrong, but very much doubt HAT will comment any further on it until the FCA finally pronounces.