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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mattioli Woods Plc | MTW | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 802.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 802.00 | 802.00 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Top Posts |
|---|
Posted at 11/9/2024 07:14 by tysoepr Have just had an e-mail from IG Index - they've taken my MTW holdings out of my ISA because they are no longer listed - so I'll now receive the funds outside the ISA too. So a CGT hit and funds taken out of my ISA wrapper. Anyone else getting this with other brokers? |
Posted at 11/2/2024 11:22 by andyh21mob Anyone throw light on why MTW share price went from 630 to 490 Sept 2023, then recovered within a month?Any thoughts on why analysts still saying their current 580 could attain 750/800? |
Posted at 08/2/2024 09:32 by edmonda "H1-24 showcases benefit of diverse income streams" - new research report available here: H1-24 revenue (to 30 Nov 23) was up 8% y-o-y to £59.1m (H1-23: £54.9m), with 4% organic revenue growth. H2 revenue is typically higher than H1 due to end of tax-year advice and H2 bias of client year-ends, and we maintain our FY24 revenue forecast of £123.6m (+11% y-o-y). Adjusted EBITDA grew 10% from £15.0m to £16.5m with positive effects from organic growth (409 new clients, +13% over H1 23) and a changing revenue mix towards higher-yielding services. The core pensions business was the standout performer with 21% revenue growth, driven by strong demand for advice and increased banking margin on cash balances. MW has a strong net cash position of £32.7m, after paying £9.3m of dividends and £6.2m of acquisition-related payments. MW has no debt. Management maintains a confident outlook, with the interim dividend up from 8.8p to 9.0p. Our revenue forecasts are unchanged with adjusted EBITDA forecasts down slightly due to lower Amati profits but statutory profits increase on higher net finance income. Our fundamental valuation remains unchanged at 900p per share (53% above the current share price). With powerful longer-term structural tailwinds supporting the wealth management sector (see page 16), we think a sector-median PER of 15.7 is too low. Moreover, with MW being so well positioned (page 17), we find it strange it’s PER of 12.3 is below this median. We see potential for a re-rating. |
Posted at 09/1/2024 07:36 by edmonda "On track for 10% annual revenue & profit growth", new research report here: H1’24 revenue (to 30 Nov 23) totalled £59.1m, 8% up y-o-y (H1’23: £54.9m), with 4% organic revenue growth. H2 revenue is typically higher than H1 due to end of tax-year advice and H2 weighting of client year-ends, and we maintain our FY24 revenue forecast of £123.6m (+11% y-o-y). MTW remains in a strong net cash position (£32.7m v £45.0m on 31 May 23), giving scope to pursue opportunities. Cash is as expected with c. £9.3m paid in dividends and some tranche-payments of previous acquisitions made. We expect cash to exceed £40m by year-end. As in FY23, MTW has reported growth within the core pension consultancy and employee benefits business segments, with the proposed changes to pension and tax rules announced in the Chancellor’s recent Autumn Statement driving strong demand for advice. Our sector PER analysis suggests potential for a rerating of both the sector and Mattioli Woods, where our fundamental valuation remains 900p / share, 50% above the current price. |
Posted at 20/4/2023 07:46 by edmonda Doherty is a leading player in N Ireland and its purchase adds £635m of AUA and c 1,320 private clients to MTW.Equity Dev expect the deal to be value accretive and have a Fair Value of 950p/share. You can read/hear their new note with free access here: |
Posted at 05/4/2023 11:07 by spooky With consolidation continuing in the sector, there is every chance that there will be a bid for MTW in my opinion. |
Posted at 27/2/2023 14:17 by elsa7878 Now on a forward PE of 12 (11 x net of cash). Been thinking of buying for a while. Any views as its not a sector I know well? Seems to have good defensive characteristics with >90% of revenues recurring and a decent dividend which is heading towards 5%. |
Posted at 09/2/2023 13:44 by elsa7878 BUY: Mattioli Woods (MTW)The specialist wealth manager appears to have ridden out the worst of the autumn financial storms, writes Julian Hofmann. The trials and tribulations in asset management are well documented over the past 12 months. While the big companies have struggled, smaller players such as Mattioli Woods have held the line against wholesale asset price falls and customer withdrawals, though even MTW recorded a 2 per cent fall in client assets to £14.6bn. In such a difficult market, the key differentiator seems to be whether asset managers also class themselves as general wealth managers, as this market segment has proved to be far more stable. Mattioli Woods is no different in this regard. The company’s main strength continues to be the recurring fees from managing client money stashed in pensions, or discretionary investments. Recurring revenues made up nearly 90 per cent of total sales, up from 88 per cent last year. This was positive given that the half encompassed some of the worst of the market turmoil triggered by last autumn’s “mini” Budget. The rising interest rate environment is also interesting for the company, which has the option of deploying its capital in the money broking market and earning better interest, while doing the same for its Sipp customers. Management attributes this to the company being able to earn fees from discretionary advice when markets are bad, while still being pulling customers to its platform via referrals. Acquisitions have also played their part, with the company earning £20mn of revenue from businesses acquired since the end of 2021. Mattioli offers an interesting combination of inherent operational gearing and resilient revenue streams through its advisory businesses. The shares have eased back slightly since the summer but the forward price/earnings ratio of 13, based on FactSet consensus, is unchanged. |
Posted at 08/2/2023 10:22 by edmonda After robust interims(despite challenging markets)and a confident Management outlook, Equity Development keeps its fundamental valuation at 950p per share (over 50% above current price)As you can read in detailed new research note + audio summary here (free access): |
Posted at 13/9/2022 16:12 by kalai1 Mattioli Woods plc posted its Final Results today. Total client assets of the Group and its associate rose 23.1% to £14.9bn, revenue increased 72.8% to £108.2m reflecting both strong organic revenue growth up 10.0% to £62.2m, and a positive contribution from acquisitions of £46.1m. Adjusted EBITDA increased 88.4% to £32.6m, adjusted EBITDA margin rose to 30.1% and adjusted EPS rose 17.5% to 48.3p. Robust and increasingly profitable growth both organically and via acquisition. Strategic medium term goals continue to be to grow the Group's operations towards £300m revenues, £30bn of total client assets and £100m of EBITDA. Valuation is average with forward PE ratio at 12x, PS around 3.9x. Share price has also been trading sideways for over 5 years and lacks momentum. MTW is a solid, growing and profitable wealth management company, but there is no particular rush to buy. Monitor for now......from WealthOracle hxxps://wealthoracle |
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