Itv Share Discussion Threads

[ivanborsky] 29/9/2021 13:09

Just reading all the posts this morning, here yougo Nige. All the stocks in the FTSE350 Media Index up, with one notable exception.......??

hxxps://uk.investing.com/indices/media---photo

[nige co] 29/9/2021 12:03

Thanks Goldfinger, I hope that you're proved right.

[slater5] 29/9/2021 11:56

At 108p it is a long way from the 134p in July. A busy amount of buying of shares bought up to 134p, then a dearth as it heads South to 107p.

Something is going on, there is no rhyme nor reason for the fall other than its man manipulated.

[alphorn] 29/9/2021 11:39

#140. Good post. I am tempted to reopen a bullish ITV position but am more concerned about the UK economy which could wipe out any gains.

[hades1] 29/9/2021 11:36

BT is down more than ITV today.

[stansmith3] 29/9/2021 11:28

thats just a statement of what happened, its not evidence of manipulation

[goldfinger16] 29/9/2021 11:18

Has anyone come across similar share price movements previously in other companies?

Nige..in answer to your very good question. I know from experience that the ITV share price is manipulated. This happens for the benefit of the big players leading up to a bid. Liberty may be involved but they also may not be.

I have been investing for nearly 20 years and during that time I have held shares in many companies that were taken over. ARM, SKY, Cobham the most recent. Before those I was invested in Logica, Colt Telecom and Imagination Tech all who were bought out. In the case of the latter three, they all went down substantially in the months before and then a bid came of the blue. Although all three had been tipped as takeover targets the share price still went down.

This pattern occurs when the volumes are low and trades are often among a few holders. You may agree or disagree with my synopsis, but I am long here and still buying on the dips.

[stansmith3] 29/9/2021 11:04

nigeif i had a pound for every share that was run up followed by a sell off and a period of languishing where no one wants it i would be retired alreadyif the mkt thought itv offered better value / prospects than some other company they would switch in a heartbeatitv is actually doing better than a lot of covid stocks, it could easily be a lot lowerthere is still no evidence or half credible rumour of a takeoveritv 140p once economy back to normal, and further bumps predicted

[hades1] 29/9/2021 10:22

Order book reasonably balanced
950k:1030k

[nige co] 29/9/2021 10:15

Has anyone come across similar share price movements previously in other companies? If so what was the outcome if indeed there was an outcome. It does look like the share price is being deliberately held back with the FTSE100 up almost 1% while ITV is flat to down.

[hades1] 29/9/2021 10:06

Really don't understand this move.
No volume.
Would not be surprised if it's just a MM moving the stock - don't normally suggest that with a FTSE100 stock.
MM 'JEFF' also seemed to be selling in auction - again unusual.

FTSE100 up 1% ITV down 0.1%?

[nige co] 29/9/2021 09:18

It's been a very bad month of September, out of 20 trading days, not including today, the ITV share price has gone up 5 days and down 15.

[hades1] 29/9/2021 09:14

Very unloved share today.
No buyers or sellers.

[nige co] 29/9/2021 08:14

Hades, I guess they could increase their holding above 10% and declare their intentions like Drahi re BT.

There must be a reason why Liberty recalled their holding from GS? Otherwise why not continue letting GS work their magic reducing their average price further?

[hades1] 28/9/2021 21:15

Technically 9.9% (max is less than 10%) can't be increased without making a full offer or declare intentions otherwise.So that will wait until they want to pull the trigger as already at 9.9%.

[bobdiamond1] 28/9/2021 21:08

Thanks, they averaged down but I can't believe they didn't increase that stake when ITV were 60p last year.

One of those other institutions are holding no doubt.

[hades1] 28/9/2021 19:09

I stand to be corrected as I am not a LG or GS employee.
But I am sure they averaged down the original prices paid!

[hades1] 28/9/2021 19:07

I suspect a similar process is happening to a smaller degree with BT at the moment - until the six months is up!But BT is considerably more liquid and it won't be anywhere as severe.LG and GS got lucky with ITV due to the pandemic!

[hades1] 28/9/2021 19:04

I could be wrong but I never found a quoted number.They just talked about not committing any more funds when they turned from a leverage position to a full ordinary share position - at that point anyway!He was very careful with his words on the conference call.But I assume GS shorted it down from 225p to 55p!Hence I was relieved when they said it was now a usual 9.9% ordinary share position in Nov 2020 - Although I think he said GS had until the end of 2020 to complete the switch.

[nige co] 28/9/2021 18:39

I'm sure last year Liberty claimed that part of their ITV shareholding average price was reduced to I think from memory 90p.

[hades1] 28/9/2021 18:37

From memory they did a balance sheet write off (due to share price fall) at least once during the 6 year period so they were being rather economical with the truth.

[nige co] 28/9/2021 18:33

Liberty Global...

CEO Mike Fries stated, “Given ITV's operating and stock price performance, we were able to increase our stake to 9.9% with no incremental investment by hedging our existing equity position.

[nige co] 28/9/2021 18:28

Hi Bob, yes they loaned out their shareholding to Goldman Sachs to work their magic on their behalf. They were able to purchase 138.7M shares at zero cost from the proceeds, that in turn lowered their overall average price. The average price maybe even lower after they loaned out their 9.90% to GS since.

[hades1] 28/9/2021 18:24

You are right.
They just did not commit additional funds to secure the larger 9.9% position.
They gave their initial holding to Goldman Sachs and they created a leveraged position at 9.9% total.
Sadly there is no transparency beyond that point.
Clearly GS could have made money shorting the positions etc but at end of 2020 Liberty Global said they now had owned 9.9% as ordinary shares.
We can only guess at the overall average price including GS fees, servicing etc.
Nige has generated the lowest possible average price.
It has to be somewhere between that number, the original sky position @ 185p and the average opening price when they opened the levered position at c.225p?
Less whatever GS made on the way down plus fees!
Its a guess.