H&t Share Discussion Threads

[ntv] 11/7/2023 07:08

Trading update looks pretty good to me

[martindjzz] 28/6/2023 09:37

I'm very upbeat about developments here. Having been in for a year I increased my holding by 50pct today.

[lord loads of lolly] 16/6/2023 08:43

Thanks interceptor2. These look sensible appointments to me that should strengthen financial governance (we don't want another FCA review) & boost retail ops.

[interceptor2] 16/6/2023 07:03

Appointment of 4 new NEDs, with 3 from a finance background, unusual to see 4 appointed at the same time and this follows the Chairman recent maiden share purchase.

[lord loads of lolly] 07/6/2023 09:09

interceptor2 - quite possibly, though HAT dropped a fair bit during May, so was probably due a slight correction anyway. Octopus Investments increased their holding significantly on 10 May (from 11.46% to 12.55%). And the CEO recently increased his holding by £106K, paying 425p a share. That prompted me to add to my own holding last month, sneaking in just before the 10p ex dividend date. I'm pretty confident this will re-visit 500p+ at some stage during the next 12 months. I'd reduce slightly again if we exceeded 550p.

[interceptor2] 07/6/2023 07:24

Reacting to good interim results from RFX?

[shallwe] 18/5/2023 12:58

This is one of my better shares, took some profit today but will be back if the price allows me to. Still got a decent holding though.

[aeonflux] 16/5/2023 18:41

Agree with you and also topped up today :)

[lord loads of lolly] 16/5/2023 16:02

An interesting RNS announced after yesterday's close for H&T's new performance-related share option scheme: The way I read it, qualifying senior management don't have to pay for their options, providing they achieve set targets. If so, that to me is ridiculous. Surely they should STILL have to pay (even if at a lower-than-current-market price)? That said, the targets to qualify look fairly ambitious, with a MINIMUM 106% increase in EPS by 31 December 2025. If they achieve even that, there should be a substantial upward share price re-rate by then. Not to mention a significant boost to dividend payouts. I topped up further, both yesterday & today, on the share price weakness, as I can't see any obvious reason for it. Ex dividend this Thursday, so thought I'd get in beforehand to qualify for June's 10p a share payout. The price could well drift lower still (particularly on 18th when it goes ex-div). But on a 12 month+ view, I'm reasonably confident my latest buys will prove sound.

[lord loads of lolly] 15/5/2023 14:46

Odd weakness in the share price today (15th May), given the lack of any obvious news to drive things. HAT only goes ex-dividend on 18th May, but maybe someone's jumped the gun! Anyhow, I topped up today as a result. The outlook was good enough for HAT's biggest shareholder to add significantly on 10 May (when the price closed at 446p). So it was good enough for me today, at just below 430p. Directors have also added recently, notably Chris Gillespie (CEO), with a further 25,000 shares @ 428p on 28 March. And the CFO bought 7,500 shares @ 431p on 3 April. Neither of them perhaps huge trades in their eyes, but a small vote of confidence nonetheless. Here's hoping there's nothing sinister about today's drop - I somehow think the Directors would have been the first to know if so....

[lord loads of lolly] 10/5/2023 09:42

NTV - yes, no unforeseen nasties & an overall positive outlook. I'd say the slight negatives were 1) Recent higher pledge redemption rates. 2) Moderating jewellery margins. 3) Weakening demand for certain higher value watch brands. 4) Inflationary impact on overhead costs. But it appears these are all being dealt with and were - for the most part - anticipated. Share price is a bit weaker this morning, probably in line with general market trends - & the fact that their update didn't surprise to the upside. But I'm happy with this. Always best to guide accurately in the first place IMHO, rather than keeping investors second-guessing.

[ntv] 10/5/2023 08:16

Trading update looks pretty good. Some parts doing better than others
Overall inline with forecasts so pe ratio falling and dividend yield should climb
Happy to hold and be patient

[saint or sinner?] 11/4/2023 15:19

More likely they have shaken out enough weak holders and traders. Onwards and upwards for the patient investors.

[lord loads of lolly] 11/4/2023 09:50

rimau1 - could be reacting to IMF's prediction that interest rates are likely to fall significantly: That would give a boost to most shares, but particularly higher yielders like HAT & RFX.

[rimau1] 11/4/2023 08:45

Nice bounce here and at RFX on no news?

[lord loads of lolly] 10/4/2023 10:53

Hi Asagi - makes perfect sense thanks. I too considered hedging my bets between H&T and Ramsdens a few years back. Decided to stick with H&T in the end, given its greater scale. H&T’s share price has grown more over the past 5 years, though from memory Ramsdens’ yield is slightly better. Good luck anyway. It’s certainly a promising sector to be in right now IMHO.

[asagi] 07/4/2023 09:33

Hi lord loads of lolly,

I switched horses to Ramsdens when H&T did its fundraising thinking that the new funds would be a 'cash drag' i.e. would take some time to start earning a return and Ramsden's discount to historic valuation was higher. We were also past H&T results at the time with Ramsden's results forthcoming, if that makes sense.

Hope that helps,

Asagi (no position)

[lord loads of lolly] 06/4/2023 13:03

asagi - I'm slightly puzzled why you have no position in that case. Though I appreciate everyone's circumstances are different and I'm not wishing to criticise or pry in any way whatsoever!

[asagi] 05/4/2023 10:00

The forward yield exceeds 5% and the forward PER is less than 8.

Now those last 2 co-incidents are very rare in my experience (which goes back about 15 years now). I have learned to back up the truck when the opportunity arises.

furthermore, it's growing. Well said, THORPEMATT, combo is very rare.

Asagi (no position)

[lord loads of lolly] 05/4/2023 09:06

thorpematt - it's one of my larger holdings too, though I mostly bought in between £2 & £3, when the FCA investigation was ongoing. I think in the shortish term the share price could easily put on another £1 from today's levels. But there are risks too. As the cost of living crisis deepens (which I suspect it will before things bottom out late 2023/early 2024) I can quite see a tabloid headline along the lines of: "Pawnbrokers' shock interest rates exploit the vulnerable". It wouldn't necessarily be fair. But when have the likes of the Daily Mail or The Sun ever bothered about fairness, when screaming headlines are more likely to shift copies?!

[thorpematt] 04/4/2023 20:00

FWIW This is now my largest holding. Part of the reason I have been buying is that the forward PER is so much lower than the trailing one. Which is because the earnings outlook has turned a significant corner.

The forward yield exceeds 5% and the forward PER is less than 8.

Now those last 2 co-incidents are very rare in my experience (which goes back about 15 years now). I have learned to back up the truck when the opportunity arises.

[wad collector] 04/4/2023 12:23

Another BOD purchase, though there appears little evidence that director dealing has much predictive value. I am pleased to see that the P/E on the advfn data headers is wrong , as often, and the updated figures are much better.

[thorpematt] 28/3/2023 18:12

Directors purchase of £100k

[lord loads of lolly] 27/3/2023 13:30

melloteam - fairly shameful advertising methinks.

[melloteam] 27/3/2023 09:58

Just to let shareholders and prospective investors know that we will be discussing H&T in our Mello BASH on the MelloMonday webinar which begins at 5pm today.

The programme for the evening is as follows:
5.00 pm Interview with Georgina Brittain, portfolio manager of JPMorgan UK Smaller Companies
5.30 pm Company presentation by Vector Capital plc
6.10 pm Company presentation by Fintel plc
6.40 pm Special guest interview David Cicurel
7.00 pm Company presentation by CentralNic Group plc
7.30 pm Mark Bentley introduces ShareSoc’s ‘Bank failures and their broader implications’ in-conversation event
7.35 pm Mello BASH with Damian Cannon, Kevin Taylor and Mark Simpson

There will be over 500 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.

Tickets are still available and if you would like one at half price then enter the code MMLINK50.