Montanaro European Small... Share Discussion Threads

[spangle93] 02/9/2024 22:18

Quoted data research update - comprehensive overview of the company



With its shares having previously traded at a premium to net asset value (NAV), MTE derated heavily during 2022 as interest rates rose and economic uncertainty increased. Whilst nerves have settled a little, the current 13.0% discount remains wide relative to history and offers an attractive potential upside. Irrespective of the short-term picture, MTE’s NAV returns have still outperformed its peers and benchmark over the long term, and its holdings have shown few signs of diminishing quality or revenue growth in aggregate.

[spangle93] 31/7/2024 21:49

Montanaro Asset Management has bought more shares in its European smaller companies trust. The firm believes valuations look attractive, and that a gradual recovery in UK and US sectors will soon spread to Europe.

Chief executive Cedric Durant des Aulnois told Citywire that the trust’s discount, as well as that of the wider European small-cap sector, represented a particularly compelling investment opportunity. The firm believes the recovery will happen ‘sooner rather than later’.

[essentialinvestor] 02/11/2023 08:05

Bought a few.

[essentialinvestor] 14/8/2023 09:44

NAV discount opening up again, tempted to add a few but will wait on macro concerns.

[yogi] 16/2/2023 20:20

Recovering nicely?

[its the oxman] 16/2/2023 11:48

Wish I bought a lot more of these now.

[essentialinvestor] 23/9/2022 11:22

Bought a small amount.

[mozy123] 18/5/2022 09:17

Started buying here.

[its the oxman] 17/5/2022 15:54

Been doing similar on basis much closer to bottom than top now, bar Ukraine going nuclear , which I don't think will happen - and if it does it's game over and we will all have bigger things to worry about.

[its the oxman] 17/5/2022 12:27

Bought a few today, 10% discount to nav now and well of its high. Hoping it can't fall too much more. Must be close to the bottom now , surely?

[lozzer69] 24/1/2022 16:20

Down 10percent today which is a bit scary.

[dr biotech] 08/1/2022 15:14

Detailed, mostly positive write up in the IC last month.

[k8 rhm] 08/12/2021 20:53

Bought in here over the last few weeks, I like the balance. Whilst tracking, often noted the high volume traded too, popular, particularly today.

[dr biotech] 17/11/2021 09:10

Me too. Have more of these than any individual share, although my UK smaller companies holdings are somewhat larger. Quite like trusts as for me they are just buy and hold and I don’t think about what to trade.

[donald pond] 17/11/2021 08:52

I've been buying this recently and mentioned it at Mello Trusts and funds last night. Extraordinary long term performance

[lozzer69] 07/9/2021 07:26

Looks like same thing happened yesterday but corrected this morning

[yogi] 03/9/2021 19:44

Oh and thx lozzer for the response from the company - very insightful..

[yogi] 03/9/2021 19:42

Busy thread in last 24 hrs! Noticed the reduced price yesterday but ignored as the offer price was in line with earlier trading and Share pad which I use also takes closing offer prices. Creeping up nicely here over recent times - I also hold BRSC which is the UK equivalent and has a similarly nice trend line- good weekend to all..

[smithers] 03/9/2021 14:18

Thank you for doing the work and for sharing the very good explanation from Montanaro regarding the price anomaly.I continue to hold MTE and will probably add

[lozzer69] 03/9/2021 12:27

I emailed Montanaro and got this explanation by return which was impressive. ......I have spoken with Cenkos, brokers for MTE, who have stated there was an anomaly of a poorly executed trade, not representative of the underlying ongoing price development. The company has been especially successful over the last year in particular of having a much closer price and NAV correlation than its history, but also versus its peers.The anomaly was due to an 'unlimited' sell order placed in the closing auction, of around 2000 shares. Whoever placed the order should normally have put a limit on this, to avoid this outcome. At 16.30 - 16.35 there is an auction and if there is insufficient demand at the market level at that time, then the trade, when placed this way, can force an unnatural 'crossing price'. Unhelpfully the closing auction is taken as the closing price, but is in no way representative of the price during the day, week or indeed today. Hence the price was instantly corrected at 08.00 this morning.

[smithers] 03/9/2021 10:02

very odd indeed.

[lozzer69] 03/9/2021 09:23

I thought that but just checked LSE and FT and both show a 5pc flash crash yesterday just before the close. Seems very odd.

[smithers] 03/9/2021 09:08

Probably ADVFN using last trade of the day price which was a UT trade at 2030p

[lozzer69] 03/9/2021 07:16

Now up 5.9pc this morning! Not sure what has happened but seem to be back on track.