Learning Technologies Share Discussion Threads

[colliera] 23/1/2019 16:57

Make that no negative news

[colliera] 23/1/2019 16:54

yes microscope, perfectly normal for this share to move 25% in 2 days on no news isn't it?

[mfhmfh] 23/1/2019 16:54

Some solid director buys over the last 6-7 months:

7th June 2018:

Leslie-Ann Reed, Non-Executive Director, bought 377,570 ordinary shares of 0.375 pence each in the Company ("Ordinary Shares") at a price of 107 pence per Ordinary Share.


9th October 2018:

Neil Elton (Chief Financial Officer) has bought 137,152 ordinary shares in the Company at an average price of 127.58 pence per Ordinary Share.


20th December 2018:

Leslie-Ann Reed (Non-executive Director) has bought 15,523 ordinary shares in the Company at an average price of 76.65 pence per Ordinary Share.

[redartbmud] 23/1/2019 16:40

longshanks

The very idea of market manipulation, where Goldman is involved, just sucks:-)

[microscope] 23/1/2019 16:30

Gee there are some clowns. Look at Andrew Brode's (who has posted on here before just for reference) business track record, with RWS and the achievements with this company... Look at their blue chip clients. I don't blame anyone for selling for their own reasons, but to suggest something untoward here is utter nonsense imho.

[longshanks] 23/1/2019 16:30

Manipulation? With GS as a corporate broker, surely not!!:)

[colliera] 23/1/2019 16:27

This just smells of either manipulation or somebody knowing something that is inside knowledge - both being wrong and both hard to prove

[longshanks] 23/1/2019 16:23

Astonishing number of shares traded.

[traderglt] 23/1/2019 16:18

Never say never in this country !

[longshanks] 23/1/2019 16:14

These are extraordinary times; normal rules don't apply.

[3dwd] 23/1/2019 16:12

The stock has fallen 30 %.... That's not normal

[mfhmfh] 23/1/2019 16:10

I agree - with Andrew Brode as Non-executive Chairman I think there's very little chance this company is 'dodgy'.

[longshanks] 23/1/2019 16:06

With Andrew Brode behind it, there is little chance if any dishonest.It could be that some expect a fundraising to finance the next acquisition but given how strong cash flow is proving and the better than expected debt position, I think they will be able to comfortably meet their stated aim last November."It is the intention of the Board to finance any acquisitions and research & development that support the outlined revenue and EBIT targets through the use of internally generated operating cash flows and prudent debt financing."

[3dwd] 23/1/2019 16:01

Clearly something isn't right.. Probably another dodgy company!!...

[longshanks] 23/1/2019 15:57

I find the share price drop over the last two days most bizarre.It would seem that there are forces out there looking to drive the price down.It has not yet reached recent lows (65p) which must be the next natural support, but for me I suspect the weakness will be relatively short lived

[gorilla36] 23/1/2019 15:31

Make that 27% down on a good update.....just as well it wasn't a profits warning or it would be in pennies by now. This market is just insane.

[bulltradept] 23/1/2019 15:06

Don't look at the price historically, look at it now as it is.

[realbromley] 23/1/2019 14:57

I can understand a drop following the positive update, but we are now 25% down from the pre-update price. Also increasingly hard to believe the price was ever around 180, which it was only a few months ago. I am beginning to really dislike this share. The volatility is becoming excessive now.

[anley] 23/1/2019 14:33

and that is 5p below my 80p base price...............

It seems that my rolling bear market and with LTG getting over 50% of its revenue from the USA may upset the price again..........

[bulltradept] 23/1/2019 11:20

Major support @ 75, if it get there....

[nfs] 22/1/2019 18:59

Yes they are acquisitive in an asset light industryUse Adjusted EBIT as a proxy for cash generated Of The 4 adjustments backed out by far the biggest is amortised intangibles ( about 50% of last year's adjusted EBIT) Then share option costs, restructuring and deferred acquisition payments . Last year these 3 combined were less than the amortised intangibles Their disclosure is consistent with everyone elseI would say the revenue was a little below market expectations but profits ( adjusted EBIT) above ( nearly double last year) which may be due to bigger savings on acquired companies than expected

[xajorkith] 22/1/2019 18:00

When assigning value here, ultimately it depends on your view on the adjusted numbers.

Prior to today's "significantly ahead" statement, Stockopedia were showing forecast net profit / eps of:

2018 - 19.0m / 2.85p
2019 - 26.8m / 3.83p

Below courtesy of Proactiveinvestors following today's update:

In a note to clients, analysts at Peel Hunt increased their full-year 2018/10 earnings per share estimate by 7% “to reflect the strong than expected margin expansion”.

They added: “With the weakness in Content and Services, we trim our numbers for FY19/20 by c2% but keep our operating profit and EPS unchanged as the company continues to focus on profitability.”;

The analysts pointed out: “Since the start of the year, LTG’s share price has recovered slightly; it is currently trading on an FY19 PER of 25.8x.

“However, we believe the shares are still undervalued for a company which is expected to deliver an EPS CAGR of 30% over three years.”

Peel Hunt repeated a ‘buy’ rating and 180p price target

[jeffian] 22/1/2019 16:18

It was over £1bn not long ago! "Underlying" (i.e. non-statutory) profit this year likely to be around £6.5m. My point.

[kemche] 22/1/2019 15:59

Is the mkt cap really £587m?

[bones] 22/1/2019 15:59

drsamwaa:

LTG say: gross cash £26M; Net debt £11M. (Therefore gross debt £37M).

They have £63M debt facility. They say this gives plenty for future acquisitions (£26M to debt ceiling?).

Organic like for like growth is luke warm, maybe flat.(8% up in some,8% down elsewhere)

The above based solely on today's update.

Macro economic outlook is nervous the world over including US.

Over stretching acquisitive companies are getting slaughtered on any mis-step as it loads the balance sheet with intangible assets and debt which is poison when credit markets tighten.

Conclusion: Market is very nervous about LTG and what the future holds, perhaps they will make one debt-fuelled acquisition too many just as the demand starts to fall off from the US?

I think this could be the reason for the drop in price. Market sentiment is fractious for all companies. Just my view. I don't hold and never have, but it's on the watchlist.