|Oakley Capital Investments
||ORD 1P (DI)
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Oakley Share Discussion Threads
Showing 301 to 325 of 325 messages
|I have just bought at 152.75 and presume other 152.75 sells shown are also purchases|
|No - though quite possibly a change of mind or change of manager by/at one of the funds which bought into the recent 157p placing.
Volume over 400k today; so many more days like this and the tap will have been absorbed.
Better for all shareholders would be for the shop to buy them in. Don't know why they haven't done so!|
|Thanks for that ST information SKY. Certainly seems to be plenty of stock about below the mid-even with an ST tip, which is unusual. Do you know who is making stock available?|
|Buying volume continues. 113k bought yesterday and 95k so far today - all at prices around 152.5p. A late 50k sale logged from yesterday @ 151.5p.|
|CWA1 - Thnx for joining us; I'm sure it will prove a profitable foray!
Simon Thompson has re-tipped OCL today in his IC Online column.
Closing para is as follows:
"The valuation is even more anomalous given that in the past decade Oakley's NAV has posted compound annual growth rate of 10 per cent, the board has committed to paying a dividend, so the yield is around 3 per cent, and from my view at least there is obvious scope for further valuation uplifts. So, having included Oakley's shares in my 2016 Bargain Share Portfolio at 146.5p, and banked 4.5p a share of dividends since then, I have no hesitation reiterating the buy advice I gave when I updated the portfolio earlier this year ('How the 2016 Bargain Shares Portfolio has fared', 2 Feb 2017). Buy."|
|Jeez, you are SO insistent! OK then, I'll have a few, just a few though, to keep you company ;-)|
|Added a few this morning at 152.7p - that is after all a 2.7% discount to the recent sale out of treasury of 15m shares at 157p.|
|Agreed, VALUE pretty elusive without a reasonable sell-off.
Perhaps take a look at one of tiltonboy's favourites - I posted the chart there a few moments ago:
|Recently added too - seeing little value elsewhere.|
|Over the past two weeks we've seen another rash of director purchases:
# Peter Dubens + 100k @ 155p
# Peter Dubens + 64k @ 156.5p
# Christopher Wetherhill (Chmn) + 25k @ 155p
# James Keyes (NED) + 20k @ 154p
and most recently:
# David Till (NED) + 22,650 @ 154.4p
This vote of confidence has so far changed nothing - the stock has drifted back to an offer price of 153p. At that level I've decided to buy back in today.|
|At a discount of 30% to nav not much downside...|
|Sure, but a company which set out with a gross target of 25% IRR, can hardly claim to be successful if it achieves 9.3% (albeit net)...|
|NED James Keyes has just bought 20,000 @154.00p. See todays RNS.|
|But at listing it was a small premium to Sp, but now the Sp is at a 30% discount. That's what makes it interesting and why at least 1 director made a chunky buy last week.|
|So the company was listed in August 2007 with a share price of 100p and a NAV/share of 95.5p. It's now a share price of 153p and a NAV/share of 225p.
I make that a 4.5% pa increase in the share price and 9.3% pa return on NAV. Not exactly spectacular...|
|Agree but the appointment of the guy from Liberia is interesting and indicates a desire to both grow the company and narrow the discount. This was always going to be a long term hold, with a target IRR of around 25% pa|
|All fine but little we don't know already, seeing as it's results for y/e 31/12/16. "Post balance sheet events" the only real interest:
"The sale of HEG completed on 3 April 2017, with total proceeds of EUR42.2 million (GBP36.2 million) received by Fund II, of which the Company will receive EUR14.6 million (GBP12.5 million). This is a slight increase from the expected proceeds of EUR14.4 million (GBP12.2 million) used in the year end accounts. The exit generated a gross money multiple and IRR of 2.1x and 40%, respectively for Fund II. The Fund took a minority stake in HEG at the time it sold intergenia to HEG in January 2015. This deal means, since its acquisition of intergenia in January 2014, the combined return and IRR to Fund II across both the HEG and intergenia investments is expected to be 1.8x and 44%, respectively.
In February 2017, Steven Tredget joined Oakley, with responsibility for investor relations. Steven has worked in investment banking for 17 years and was a founding partner of our Nominated Adviser and Broker, Liberum Capital Limited. With his knowledge of the investment community and his understanding of and passion for the Company, he is well placed in this role."|
|What is your interest here Andy ?|
|t seems to be attrcated to that line!
A trader's dream if it does get there.|
|Posted just as a reminder to myself to watch for a cheap offer nearer 146p...
free stock charts from uk.advfn.com|
|Looking at how PURP has performed recently I wonder what the valuation of the online estate agencies in Europe might be when they mature? It looks like something has changed share price wise the last couple of days. A year a seller has gone, perhaps someone is buying quietly, but all looks good for the next leg up.|
|ST updated his 2016 top 10 bargain shares last night, OCL was one of them, it under performed but he regards it as anomalous and a buy. This was yesterday so today's TU couldn't or shouldn't have been known:-
"...However, despite making massive returns on some of its investments, and in the process lifting NAV per share by around 15 per cent in the past 12 months, Oakley’s share price discount to NAV has actually widened from 27 per cent to 30 per cent since I recommended buying the shares. This compares with a historic average of 20 per cent for the fund since inception and a current discount of 24 per cent for the direct private equity peer group (ex-3i). That’s anomalous and can no longer be justified by the lack of a dividend as Oakley’s board has just paid out a maiden dividend of 4.5p a share in respect of the 2016 financial year, and expect a similar payout this year, too, so the shares now offer a respectable dividend yield of 3 per cent.
I would also flag up that Oakley’s investment team has been making some potentially lucrative new investments, including the purchase of a portfolio of European real estate websites. These businesses have several key features including strong underlying structural market growth in their segments, are asset-light, which supports strong cash conversion, and offer potential to accelerate performance through effective management, especially around marketing. I wouldn’t bet on Oakley hitting pay dirt again, but rated on a massive discount to book value the shares are worth buying."|
|Woodford's involvement always puts me off a bit! But agree OCL seems a good LTBH; the recent move to paying a dividend makes a difference too.|
Apart from the discount, the thing that attracted me most was the top ten shareholders. woodford owns 20%, invesco and Ruffer have large stakes and so do a number of other institutions. I can only see the discount narrowing. The large director buy was encouraging too.|