Share Name Share Symbol Market Type Share ISIN Share Description
H&t Group Plc LSE:HAT London Ordinary Share GB00B12RQD06 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  7.00 2.33% 307.00 1,303 09:11:40
Bid Price Offer Price High Price Low Price Open Price
294.00 300.00 307.00 307.00 307.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 129.12 15.63 32.11 9.6 122
Last Trade Time Trade Type Trade Size Trade Price Currency
11:40:16 O 1,002 298.44 GBX

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Date Time Title Posts
06/4/202122:32Harvey and Thompson Pawnbrokers1,029
21/4/202010:31*** Harvey and Thompson ***41
16/4/201216:55Trading Story21
24/5/201007:39H&T - Growth in recession and credit crisis times173
17/1/201013:15H&T with Charts & News13

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H&t Daily Update: H&t Group Plc is listed in the General Financial sector of the London Stock Exchange with ticker HAT. The last closing price for H&t was 300p.
H&t Group Plc has a 4 week average price of 280p and a 12 week average price of 265p.
The 1 year high share price is 348p while the 1 year low share price is currently 195.50p.
There are currently 39,864,077 shares in issue and the average daily traded volume is 24,257 shares. The market capitalisation of H&t Group Plc is £122,382,716.39.
boonkoh: You forgot to add that the Questor recommendation is Hold.Basically the three variables for this year are: can pledge book grow back up and how quick. Direction of gold price. Intl travel opening up for forex business.
philanderer: Questor: H&T’s Covid recovery may not be quick but it has net cash and a decent yield Questor share tip: the pawnbroker’s profits could fall in the short term but lowly valuation offers plenty of scope for share price gains
mrbeaky: Share price has been a lot higher already this year, no reason why it wouldn’t go higher on this good RNS
spob: Anyone seen any marketing activity from HAT Shouldn't they be taking advantage of the current situation and promoting themselves a whole lot more don't think i've ever come across any HAT TV/Radio adverts maybe that's because I record everything and skip through the adverts
thorpematt: db260 As an avid reader of Ben Graham's work I completely understand and respect where you are coming from. And as I mention, it is truly the most importnt thing that individuals should be comfortable with their own investments. Value investing has been somewhat unfashionable of late and so many of the concepts of Graham's work has been lost on many. Should we ever return to a situtation whereby companies do start to be wound up on any scale, those liquidation values will be important and will serve you well I a m sure. As Buffet famously once said: "It’s only when the tide goes out that you learn who has been swimming naked." From my perspective I am looking at HAT as a mid term winner on COVID restrcitions and I am definitely valuing it on on "ongoing business" methodology.
thorpematt: OK so its important to compare current aasses and current liabilites or total asset and total liabilities Definition: - NAV PS Net Assets Value per share ratio, is defined as Shareholders' funds attributable to equity interests divided by the number of shares in issue. Net assets is the total assets less the total liabilities i.e. the total shareholders funds plus preferences and minority interests. Figure is expressed in pence (currency being GBP) and the formula is the following: = (total equity / shares in issue) * 100 So you would have to use TOTAL assets not current assets of you wish to deduct TOTAL liabilities. This is particularly important with the new IFRS16 accounting standard (which counts long term leases as debt and the property value as assets). With this standard long term debt is increased so as to include all future rents (bar those due within 1 year).* Long term debt at interims equates for £17m and the long term leases £16. If you count those you would have to consider that the TOTAL assets figure should be applied £161m, or at very least you should add the property assets back in £26m. Now, one additional thing to note is that loan books create debt on the balance sheet in the same way that mortgage lenders always look highly indebted. I hope this is help. Ultimatly of course we all have to be comfortable with our investments. Should we be fortunate enough to see a retrace in price here then the additional margin of safety on any purchases will be welcome. For the record I added a few on Friday since a) I thought that the value offered here is not that easy to find elsewhere b) I think that this lockdown will essentially be the low point c) The chart appears to be an inverse head and shoulders which is often a very good time to buy. -------------------------------- *A quick note here is that SCS is a good exanple of a company with a lot of long term "debt" based on its lease obligations. Unlike the high street stores I believe its out of town leases are an asset. IMO future rents are neither an asset or a liability: Because a long term rental agreement for a prime site is a great thing, whereas a long term lease for a soon to be obselete site is not. In SCS's case the future rents (listed as debt) make the stock look heavily indebted when in reality it has a tasty cash pile and very healthy cashflow (which can readily pay rents, dividends and anythong else for that matter). In HAT's case the high street stores are prety modest. High street stores are needed and of course the rents aren't genereally prime for pawnbroker shops as they don't reside in prime locations.
thorpematt: Interims current assets were £110m 40m SII =£2.75 / share ADVFN lists NAV @ £3.07 per share Stockopedia has Book value or shareholders equity at £127m or £3.175 per share (going by latest interim numbers). Now, all of which (from my perspective) is very good indeed if you consider it as balance sheet strength when compared to most listed companies at present. GRG (a quality outfit) being just one example. Most companies are now a little burdened with debt. Not so HAT. Book values are great if you are looking to liquidate a company or if you are seeking some sort of return on a failed investment or a margin of safety. For me, I am looking for companies to flourish and so I look for profits versue EV. I believe that HAT will continue to make around or above £10m p.a PBT on an EV of around £110m which is excellent value - backed by a very strong balance sheet. The fact that we could liquidate the compnay at a profit is of only theoretical concern at this juncture. P.S those figures are with intangibles stripped OUT.
jamessmith23: The difference to other companies that with undesirable ESG characteristics is that HAT isn't going anywhere, unlike coal power stations for example that are being replaced by renewable energy.HAT may never be valued at a great multiple but it will still be making money, and it could just end up being a company that pays out a great div yield consistently.
thorpematt: The only thing with cash position for Pawnbrokers is that of course they lend cash. And therefore ironically it can be a negative signal! From the RFX TS:- "..During lockdown, the Group's pawnbroking customer base had a reduced need for borrowing whilst at the same time continuing to repay their loans. These loan repayments have improved the Group's cash position." The PBT was 18months so makes it difficult to distill the recent trading. So all in all I understand boonkoh's point. Outlook is hard to give for anyone nowadays so I can understand the lack of guidance to some extent. FX is of course the big negative alongside store footfall suffering due to natural headwinds and forced lockdown. Gold price, higher unemployment and general weakening of economic outlook for the UK should give tailwinds through 2021 (as will a fade in COVID restrictions). All that money saved via lockdown may be a distant memory by then too. I think that both RFX and HAT are at a price point that reflects what's just happened and not what is about to happen.
lord loads of lolly: As savings interest rates dive (just over 1% without tying up cash), dividends become more relevant. HAT's FY divi of 11.7p gives a yield above 3.5% and is well covered. Longer term, demand for HAT's services is only going to increase due to the impact of covid-19. That said, revenues will have significantly reduced during lockdown. Over the years, this has been a consistently profitable company with an undemanding rating that's reasonably conservatively run. Barring a general market meltdown (still possible IMHO!), once the FCA review has concluded, I'd expect a share price nearer £4 than £3 within a year.
H&t share price data is direct from the London Stock Exchange
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