Hargreaves Services Share Discussion Threads

[cyberbub] 21/3/2024 08:02

Is the big drop on the open because it's gone ex-div?

[gargoyle2] 20/3/2024 07:20

Thursday 21st

[cyberbub] 20/3/2024 06:44

Ex-div on Friday?

[red ninja] 15/3/2024 12:01

Well I don’t think that is that unusual for HSP or other AIM shares.

They are illiquid, often not getting broker coverage and often unloved.

However, they are good value.

[cyberbub] 15/3/2024 10:45

The super wide spread and the trading in this share are a bit weird, often trades appear well outside the spread, does anyone have any idea why? Just illiquidity?

[solarno lopez] 11/3/2024 12:10

That’s a wonderful double bottom in the chart

[cyberbub] 07/3/2024 08:14

After dithering I decided to buy in today, 7000 shares at the open, not showing yet.

[daisylove] 06/3/2024 14:42

As Buffett says just buy good companies and keep them.

[red ninja] 05/3/2024 21:43

I see in today’s RNS that Rodger McDowell (chairman) has moved 74.5 k of HSP shares to an ISA to protect from income/capital gains tax, a positive sign I feel.

[sspurt] 04/3/2024 14:08

Looks like maybe that DSM stub has been sold - 75k crossed at 521p

[davebowler] 04/3/2024 08:55

Singer-
Hargreaves has announced that is has completed the buy in of the Group’s two defined benefit pensions schemes. The maximum cost of this is deemed to be c.£6.6m but it could be as low as £3.7m (the difference being any increase in obligations during the two year buy in period). In any case, this is lower than the previously estimated maximum cost and our forecast of £9m. We upgrade our net cash forecast by £1.3m as a result (the dynamics of which are discussed in the body of this comment. The buy in removes the need for any deficit contributions and simplifies the balance sheet, underpinning the sustainability of the recently announced 36p annual dividend. This is further evidence of delivery against Hargreaves’ strategic objectives. We remain at Buy, reiterating our 770p TP and noting the attraction of the 7% dividend yield as management executes its value realisation strategy.

[harrogate] 04/3/2024 07:31

Good news on the pension scheme buyout. Max £6.6mOdd decision to bring forward dividend payment date by a week into this tax year Fingers crossed that German trading has improved as per interims and that market can then see the 36p is here to stay + other distributionsStill think he can get to £6 and a 6 % yield

[harrogate] 03/3/2024 06:49

That is great. Thank you for the information.

[red ninja] 02/3/2024 22:25

Harrogate,

The 5th of Feb announcement states 3.89% of HSP is held by DSM + Downing managed clients funds.

However, that is two entities which is confusing.

Dsm states in 1st March NAV|portfolio statement that it has 1.04% of 30.44 million fund in HSP (see link in earlier post) that gets you to £316K and with a share price of £5.14 that gets you to 61K shares approx.

The Downing managed client funds must have the majority of the 5th Feb 3.89% of HSP. I don’t think the Downing managed client funds will be in a rush to sell HSP given that Downing thought HSP was a good investment apart from rebalancing sales if the HSP share price rises and means it becomes too high a proportion of a client fund.

[harrogate] 02/3/2024 14:33

Hi. The last holding announcement by Downing showed them with 1.2m shares. No announcements since. Where did you get your figures from? Thanks

[castleford tiger] 27/2/2024 06:55

Ok valid but another reason never to be a forced seller ( ever )
The dividend looks like it will increase and the land sales will pick up again
Tiget

[red ninja] 26/2/2024 23:07

Downing Strategic Micro Cap. I. T. is winding down over 2 years. Thus all holdings must be sold.

DSM + Downing client funds had 3.89% of HSP at 5th Feb.

[harrogate] 26/2/2024 22:09

They need cash as the fund is allowing 50 redemptions and a lot of their other stuff is poor.

[castleford tiger] 26/2/2024 21:55

Why would anyone sell?
One reason please

[harrogate] 26/2/2024 19:39

Large trade went through today. Wonder if Downing selling more.

[solarno lopez] 26/2/2024 09:19

Yes a good few pence