Morses Club Share Discussion Threads

[iamkhan] 18/8/2016 22:09

interesting business. does anyone else have comments a month into the IPO?

[simon gordon] 15/6/2016 17:52

What Investment - 15/6/16:

The small cap stock he bought shares in is Morses Group, a £126 million market cap company.

Beagles remarked, ‘With 200,000 customers, Morses has the second largest market share in the UK home collected credit market (Provident Financial is the market leader). The company operates under a long-established brand and is building a market-leading UK non-standard consumer finance business. The group is well-capitalised with very low financial leverage, has invested wisely in technology and is actively consolidating the market (where smaller players are being driven out by greater regulatory pressures). The stock was a new issue at a very attractive valuation that was based on prudent forecasts (a combination unfortunately not normally associated with IPOs).’

[redd] 18/3/2002 23:34

They seem to be making the right moves again although they've had a few serious 'hiccups' too. As you pointed out, they are well below NAV and given that Redstones' prospects appear to be improving these could soon be rerated.

[hpotter] 18/3/2002 22:32

Good to see the rise today. Still a long way to go to NAV, and much of the value in cash.
Also good to see directors buying.
RG.

[rcturner2] 08/6/2001 13:27

I sold out today at 77p once RED was going south. I dont really follow why RED has been hit so hard but it must impact on this stock.

[rcturner2] 07/6/2001 09:23

Today our friends the MMs opened the stock lower - why?

If it is to encourage sellers, to date all they have got is one buy order.

[nick9962] 07/6/2001 07:14

I bought 5000 of these at 65p with no premium. There is not generally a lot of stock available and when MM's are short of stock it can be difficult to get it at the price. Suggest you try to buy on down days. This one may get sqeezed higher fast if a large number of people turn bullish. Makes up for my losses on RED,

[optimist at large] 06/6/2001 21:03

Up another 6% today, perhaps on the back of the following:

RNS Number:8178E
Mountcashel PLC 6 June 2001

Mountcashel plc

Mountcashel plc (the "Company") today confirms that Phaseone Investments
Limited has increased its holding in the Company to 328,750 ordinary shares of
50p each, which equates to 3.64 per cent. of the Company's issued share
capital.

[rcturner2] 06/6/2001 09:19

OAL - thanks for that.

I bought in following the results comment in IC which I thought made the share a bit of an obvious buy. They have gone up a third since then. I wonder if any of the interest could stem from IC readers.

Why buy 5000 then when you can buy 2 * 2500?

[optimist at large] 05/6/2001 21:28

RCTurner2

The price of 85p for 5,000 shares is because the NMS (normal market size) is only 1,000 shares. I have found that usually there is no problem, buying or selling, up to 2,500 shares but for larger quantities a premium is normally required unless the MMs have excess stock.

I think a major factor in the recent share price rise has been an increase in interest following the fairly significant directors' purchases. The share is somewhat illiquid which tends to make it very responsive to changes in demand.

The market cap at today's close is still only about £7M. which is less than the current value of their known investments and cash even after excluding RED.

I spoke to the FD today to try to find out if their RED shareholding had decreased but, as expected, got nowhere. However he sounded bullish and thought shareholders would be pleased with current developments in due course.

[rcturner2] 05/6/2001 11:49

A buy trade at 85p - miles above the spread. Any comments?

Optimist - its the cash in the portfolio pumping up the share, yes?

[optimist at large] 04/6/2001 20:32

Yet another director buy today even though RED is further down.
In the 'good old days' a MCL share used to be about 80% of the value
of a RED share, its now about300% !

[goldfinger] 30/5/2001 23:32

Director buying today - noone spot it ?

[optimist at large] 29/5/2001 21:28

Mountcashel is up 17% since Friday morning on the largest volumes I can remember, has anyone any information ?.

[maximillion] 09/5/2001 21:28

Bought some more at mid of 61 (see RED post), but this is rather a solitary habit, to judge from volumes. Figured MCL had about 40 - 50% gearing to RED's price, although it's too simplistic to assume cap rise from RED will drop stright onto MCL's price.
Oh well, we'll see what happens
Max the Pauper

[goldfinger] 04/5/2001 00:28

Why no volumes this am ? Trades have gone through you know !

[spear] 29/4/2001 19:43

Agree news - too cheap but it may take a little while for people to realise this.

[news] 27/4/2001 11:14

I have a big slug of Mountcashel as a geared way into Red. Mcl are still very bullish on RED in the medium term and I think they're correct..They were prevented from selling some RED at £10+ because Oliver Vaughn was on the RED board and was subject to a lock in. NAV is well above 113p when you factor in RED's rise and some of the unquoted investments at cost (£1M into Eurogene, may float later this year). Plenty of cash for new investments....too cheap IMO.

[tomrob] 27/4/2001 10:49

A sale of 2 shares and a 3.5% drop. Any informed views on this not unconfusing effect of the laws of supply and demand ?

[maximillion] 27/4/2001 00:29

2 pounds would be nice (cf purchase of 70p), but I fear that TMT sentiment will not recover that sharply, a view mainly based on the pattern of the biotechs a few years ago. They are not the same type of cos, admitedly, since biotechs have long lead times and negative cash flows. The principle of 'once bitten, twice shy' applies, except it's more like 'once savagely mauled, no more throwing darts at a lobotomised pit-bull terrier whilst smeared in paté'. If the small rebound in TMT holds, especially RED's price, then MCL should be good value. In the current climate, I'd expect their eps to plunge (barring any residual effect from Xaar sale), as it's hardly the best time to realise hypothetical gains.
Max the Pauper