Itv Share Discussion Threads

[loginname] 06/3/2024 09:24

@TrikyTree - thanks will look.

I think you make a good point about the size of the buyback relative to market cap.

I know for example BP is a giant, so probably their buybacks are a bee sting.

Whereas ITV are buying back 10% of the company - this feels extreme(!) - and I also wonder how a less-liquid stock will cope with the volume of buys... interesting times ahead.

[trikytree] 06/3/2024 09:13

Loginname, if you’re still interested take a look at the BP thread. They’ve been doing buy backs for ages. You can see the daily RNS’ about them. They buyback around 2M shares a day. Yesterdays 2M were bought in a price range of 470-475.
The BP buyback scheme whilst huge is not as huge as what ITV is proposing in terms of relativity to market cap. Therefore BP doesn’t struggle buying the shares back each day and the share price is not really affected. It remains to be seen how a less liquid stock which is mostly institutionally held will perform when around 9% of stock is bought back. Maybe they’ll be sellers happy to get out at these derisory prices but if not the share price could really benefit. Let’s see. Before any of that the results themselves will have a bigger impact.

[trikytree] 06/3/2024 09:06

They will probably do it over at least a quarter. If not 6 months. They could try buying them all in one go but where they going to get them from? They’re certainly not going to get that many for 60p a share! It will be done in daily tranches and more detail will no doubt come tomorrow so not long to wait.

[huckers] 06/3/2024 09:04

It is a big buyback and likely to take 3-6 months to complete.

[loginname] 06/3/2024 09:00

@huckers - exactly the kind of thing I'd like to know - eg a daily limit.

Obviously it wont be 1 trance of 390m
And I hope it won't be 390 tranches of 1m

So somewhere in between?

Does anyone have experience of buybacks on other shares - eg is it reasonable to expect ITV to do it in 10 or 20 or many more tranches...?

[ny boy] 06/3/2024 08:35

Itv not great at holding gains, Dame Woke must go, they need much tougher leaders at the helm

Also global equities are starting a major correction

[huckers] 06/3/2024 08:34

I may be wrong but are there not rules limiting a company to repurchasing a maximum percentage of their shares on any given day based on something like the 90-day average volume?

[loginname] 06/3/2024 08:31

Not really - just trying to get people
Thinking about what’s coming up and hearing their views. How do you think they will do it?

[trikytree] 06/3/2024 08:23

“ What’s stopping ITV just buying the 390m shares in one go at the current price?”

Is that a serious question 🤦🏼‍♂️

[loginname] 06/3/2024 08:03

It’s an interesting question - I’ve been wondering what the buyback tranche sizes might be too.

I assume it’s a cash flow thing?

They’re spending £235m / eg 60p say = 390 million shares.

What’s stopping ITV just buying the 390m shares in one go at the current price? Or 4 tranches of around 100m? Does it have to be lots of small nibbles?

Surely the best strategy is to buy as many as possible at the lowest price and not buy into a rising price over time?

I wonder how free float / available shares impacts this. I mean - are there actually 390m shares available?! Does it require motivated sellers to make this possible?

[kelso29] 06/3/2024 05:15

Regarding the buybacks starting tomorrow, I'm thinking the latest they want to finish them will be Christmas, which is approximately 200 trading days. This gives nearly £1.2m or nearly 2m shares(at current price) a day of buybacks. They will probably do them quicker though, soon find out. Even after the last 2 days, i still think that we will breach 70p tomorrow.

[justiceforthemany] 05/3/2024 22:40

STV market cap just £87M now.

[bedford1976] 05/3/2024 21:39

Yes ITV just need to get on with it and buy STV. Complete the network and get the deal done while STV is cheap

[justiceforthemany] 05/3/2024 20:59

STV is actually more attractively valued than ITV, at just 6x earnings.

[stansmith1] 05/3/2024 20:43

VladGoldy"We have been hoovering up this baby for over two years."That's nothing, if you ask him he will say they are up over that time. Unfortunately, he has audience for his fantasies.

[isis] 05/3/2024 20:26

It's getting worse..............

[netcurtains] 05/3/2024 20:23

Extraordinary on ITVx is pretty good....
Makes me laugh anyway...

The hero is the only person who does NOT have a super power...
(in this world everyone gets them on their 18th birthday - she is 25)

[vlad the impaler] 05/3/2024 18:39

Goldy

"We have been hoovering up this baby for over two years."

Some affect that buying pressure has had

5 pence per day ?

[vlad the impaler] 05/3/2024 18:38

Either way he is entertaining...
And that is what ITV is all about.

Lol

[netcurtains] 05/3/2024 18:38

how odd - but fun...
😀

[netcurtains] 05/3/2024 17:54

Its a self evident truth if the price has fallen loads those on the INSIDE know why more than those on the OUTSIDE...
So either Golddie is short on the INSIDE (From time to time) or is LONG on the outside...
Either way he is entertaining...
And that is what ITV is all about...