Lsl Property Services Share Discussion Threads

[cockneyrebel] 09/6/2009 12:21

up again - housing data today says this lot should be doing a lot better imo.

Seen Rightmove lately?

CR

[cockneyrebel] 08/6/2009 18:02

Sneaked out after the close at 6.25pm - director obviously didn't want to draw attention to his buying, for whatever reason :-)

LSL announces that Nigel Favas, acquired 32,000 LSL ordinary shares of 0.2 pence
each ("Shares") on 8th June 2009 in London. The Shares were acquired at a price
of 127p.

CR

[cockneyrebel] 05/6/2009 11:46

This is starting to get a move on, news withing the week imo. Those big direcror buys of a month ago were well timed I bet.

CR

[cockneyrebel] 04/6/2009 14:27

Sorry Badtime, didn't see your post here :-)

Dunno but it's on the up again and after all that director buying it feels good.

News on TV last night that houses are selling again.

CR

[badtime] 27/5/2009 20:54

Where u c this going then CR

[cockneyrebel] 27/5/2009 12:17

Look at that chart - next leg up here this am imo - some large buying the past few days.


CR

[chester] 06/5/2009 14:29

Breaking out.

[cockneyrebel] 29/4/2009 21:39

Raymarine was another one.

I think Harris had a stake in EZJ too but can't remember EZJ having a bid made.

There are one or two others too but I can't recal at the moment.

CR

[turbounit] 29/4/2009 13:04

Just to elaborate on some of the bids Harris have been part of to satisfy my own curiosity:

Just quickly I found they are a major shareholder of Carpetright and were vocal in rejecting a £12.50 bid in late 2007. The shares are now 550p.



"According to the FT, Harris Associates intends to 'demand a higher price' for its Carpetright shares, and quoted Herro as saying of the £12.50-a-share bid: 'I don't think it will go through.'"

Other investments include(d) Signet, Matalan and Nikko and in each case Herro was the activist holding out for a higher price (with some success). Matalan was taken private by the Chairman/founder in 2006.

Harris spoke out against the Signet takeover by Apax/KKR at £2.3b late 2006 saying it was too low. The market cap is now £930m.


Harris were successful in getting Citigroup to increase their offer for Nikko. Citi are looking to flog it to Sumitomo for a loss as I type.

Any I've missed CR?

[typo56] 29/4/2009 13:03

So directors account for 8% of the Sheffield shares. What about the other 92%?

[turbounit] 29/4/2009 12:32

Sheffield were still buying in 2007 and 2008 along with the directors and Harris Assoc.

Sheffield basically dumped 5m shares and the directors took up just over 8% of these. The director buys were announced on the day of purchase (24th) which boosted confidence for a few days before the Sheffield announcement was made despite the fact the transactions happened the same day. Strange.

Unless there is another 'major shareholder transaction' announcement then none of the current big players took up the slack. Not indicative of corporate action if you ask me but at least the management are still believing in themselves.

[cockneyrebel] 28/4/2009 17:31

right, cheers Typo.

The way this has risen against the market and on volume looks like something happening imo.

CR

[typo56] 28/4/2009 17:22

Harris have held for some time. First holdings RNS I can find for them dates back to 23 Oct 2007.

Read this:

[cockneyrebel] 28/4/2009 16:33

Anyone know how long Harris Associates have held?

They have an uncanny knack of being in stocks that get a bid, would be interesting to know when they bought.

CR

[strollingmolby] 28/4/2009 16:29

Their holding of 16,968,974 shares prior to reducing through a whole %age point was 16.29% - so I'd wager the Sheffield Partners holding is held under the Morstan Nominees name (which is a Morgan Stanley nominee account name).

More interesting will be who has picked them up.

SM

[cockneyrebel] 28/4/2009 15:24

Sheffield Asset sold that 5% - wonder who bought them?

CR

[cockneyrebel] 28/4/2009 10:09

That's a breakout on the chart - 138p going to get tested soon imo.

CR

[turbounit] 28/4/2009 09:43

It all depends where you think we are in the property cycle. There is still no finance to speak of for first time buyers or those with little equity in their homes. Lending mulitples are way down and the new tax rules aren't exactly encouraging skilled labour to come to the UK.

Turnover in 2008 was down 26% compared to 2007. Turnover in the first quarter this year is down 28% on a year ago. At this run rate they'll need to have cut costs by a further 20% to break even.

I'm not saying it's a bad business but there is a fair headwind and no visibility when things in the property market will improve.

[cockneyrebel] 27/4/2009 19:34

Big volume and large trades, if I didn't know better I'd say shorters had got wind of a bif or some news and were closing in a hurry.


LSL would make a nice bid target for some other surveyor/estate agent types to boost volume. If they do beat this year (and they say they are slightly ahead of their own expectations) then the 8.5p eps forecast could well come out over 10p - that would make the fwd PE look very low for a co entering a new propert cycle imo.

CR

[cockneyrebel] 27/4/2009 15:07

More 200K buys.

CR

[cockneyrebel] 27/4/2009 13:53

250K buy

CR

[cockneyrebel] 27/4/2009 13:51

Harris ssociates have a habbit of buying stocks that get bid for - RAY being one that comes to mind.

Close your short Evil, imo - this looks like Kensington 2003 all over again imo.

CR