Ig Share Discussion Threads

[hunter154] 04/9/2023 09:20

Agree @love….

We need a ceo who is going to be driven by cost control, efficiency and someone who can shake up TT growth.

In an ideal world, a guy with US brokerage/ fx trading experience may help the TT side.

[masurenguy] 04/9/2023 07:40

Ordinary Shares Purchased

Date: 01 September 2023.
Shares purchased: 116,813
Average price paid per share: 677.21p

IG Group intends to cancel the purchased shares. Following the cancellation of these shares, the remaining number of ordinary shares in issue will be 400,723,942. Since 2 August 2023, IG Group has purchased 4,386,093 shares at a cost of GBP29,817,690.75 (excluding fees and taxes).

[lovewinshatelosses] 03/9/2023 21:33

True - although as Hunter notes, some of these guys seem to be very well remunerated when you take everything into consideration.
If the next update disappoints in any way, I will be taking a view myself, although may well sit tight to see who the new CEO will be. A good appointment should get this show back on the road. It really should be an attractive proposition to even the strongest candidates. And IMO has only slightly lost its way so far, nothing seriously amiss etc, so should not be a significant task to get things back on track and return the company to stock market darling status.

[adamb1978] 03/9/2023 19:25

As long as Director's have enough skin in the game and don't sell the majority of their holding, I'm entirely comfortable with people selling a LTIP vest.

They're human beings after all - same costs as other people....mortgage, school fees etc etc. If the guy sold £400k of shares, so netted just over £200k of proceeds, it might have been to simply take a chunk of his mortgage ahead of remortgaging at a much higher rate. Perhaps he's getting divorced and needed some liquidity?

Equally at £200k proceeds, he might not have reduced his mortgage, depending on where he lives!

[lovewinshatelosses] 01/9/2023 10:12

I hope June recovers from whatever has ailed her these past few months.
That said, purely from a commercial perspective, I am not worried about this outcome. Obviously we need to recruit a strong replacement. One who can deliver this time.
I am not happy about the large Director sell we saw in August, although appreciate that in itself, it does not necessarily mean we are in troubled waters.
I hope the next CEO has values aligned with strong cost controls and a ruthless approach to failure. Assuming any parts of the business are failing, of course. Even if TT is starting to perform now, cost controls need improving IMO.

[coxsmn] 31/8/2023 22:22

H154,You are correct

[hunter154] 31/8/2023 13:42

If you thought IG was cheap, you wouldn't sell at £6.78 when a divi is coming.
Oftentimes, directors sell enough to meet tax obligations.

[coxsmn] 31/8/2023 11:56

Nb another way to look at it, he already owned a lot of shares, got awarded more then sold some of his existing holding.

[coxsmn] 31/8/2023 11:50

As of 7th August he owned 208,446 shares, worth 1.415M at current share price So he still owns plenty of shares.

[coxsmn] 31/8/2023 11:26

How many shares does he still hold?

[gbh2] 30/8/2023 12:28

Company Director Greed, ending no time soon!

[hunter154] 30/8/2023 12:03

I just saw all the Director sales at the beginning of August.
The COO, was granted LTIPs at 1p which he sold in its entirety immediately, at £6.78 and pocketed £400k+
This is the guy that has overseen operations where costs went up by 22%.
That says it all.


If the numbers are poor, it maybe time to move on me thinks.
Also, will be interesting to see who replaces the Ceo. If its a credible person then maybe a turn around could be in the offing.

[hunter154] 29/8/2023 10:48

I have been an advocate for CEO/CFO change….naturally did not want/ expect Ceo to leave under these circumstances.

That said, I feel that IG is better-off going down the path of a new chief.

Hoping June makes a speedy recovery.

[adamb1978] 29/8/2023 10:06

Hope the CEO recovers, but having a fresh pair of eyes at the top might not be the worst thing for the IGG equity story. Just hope that the new CEO continues with the buyback

[gbh2] 25/8/2023 10:15

The market has often suffered during summer months from low volume drift and low volume drift always seems to be down :)

[hunter154] 25/8/2023 09:41

Really bad trading update by CMCX today. I thought we would tank in sympathy.
A bit nervous about our Q1 number now.

Lower volatility that has persisted in the markets thru’ the year doesn’t help this sector.

[yf23_1] 24/8/2023 08:14

Big rise so far on small vol.

[gbh2] 18/8/2023 09:46

The option of a +4% dividend will Should help the share price recover during the SEPT run up to ex divi.

[lovewinshatelosses] 07/8/2023 09:52

True, although even lower 'real' volume when you consider how many shares are getting bought back each day. Quite a few shares in sticky hands, too.
This will of course likely change on positive (or negative) news. On balance, I naturally think the September update will be satisfactory, although I am hoping for better than just satisfactory.

[gbh2] 07/8/2023 08:10

The low volume trading makes it easy to drive the share price in either direction, even on a recent good day, this only saw a million traded.

[lovewinshatelosses] 07/8/2023 07:36

Should have added, the VIX index is looking primed for another move up. If this plays out in the coming weeks, it should be good for IG activity.
I am a fairly relaxed holder here, but on balance, I think your timing is going to prove better than mine, Hunter.
Basically, I thought the buy backs would put a higher floor on the share price than it probably will, on reflection.
As long as the September update is positive, we should all profit from our positions here IMO. Which is the main thing :) GLA.

[lovewinshatelosses] 06/8/2023 18:05

I have not discounted that prospect. Hence the 640's ish comment, based on the idea it retests the low and bounces up, rather than prints a new low. Retests can be healthy, up to a point, IMO.
If the latter scenario occurs on no company specific news, I might wait for low 620's before taking a final slug, although would need to have a more detailed look nearer the time if that happens.
In truth, I am not expecting a brand new low print, so might just toss a coin at that stage to decide the final tranche purchase price if it comes :)

[hunter154] 06/8/2023 14:43

Hi Lovewins,

I don't disagree on your points. Just get the feeling this might push lower for a few weeks and I may be able to pick up at the 52 week low. At that level, the Sept dividend would be 5.1%.
I am going to add for sure if the weakness persists.

[lovewinshatelosses] 04/8/2023 09:06

IMO, 750p ish close to ex div should be a fairly conservative target, but we shall see. Let's be honest, none of us probably expected it to remain this low, as of right now.
For all my (valid) criticisms, I obviously feel that this is too good a price to resist. Hence my top up yesterday. And if the September update is good, that should in itself be enough to at least banish the 6's, if not a return to the 8's. Which IMO would require a very good update. GLA.

[gbh2] 04/8/2023 08:36

I now have enough, my loss on capital is almost the same as what I'd get if I took the dividend for my current holding, the acid test for taking dividend will be the share price in the days prior to ex dividend.