Partway Share Discussion Threads

[chrisdgb] 08/8/2018 09:06

Nice to see Helium Rising Stars holding, they are a shrewd investor..........

[chrisdgb] 08/8/2018 07:44

Should be trading at 20-25p I think..........

[nico115] 07/8/2018 16:58

9m PTy Trade at 13pSwinstead?

[rubberbullets] 07/8/2018 13:51

probably another 250k waiting to be sold


Interquest delisted and shareholders got zero

[chrisdgb] 07/8/2018 13:42

Great spot, Harvey Nash cash offer highlights the attractions, surprised we have not moved up here.........

[aishah] 07/8/2018 11:03

Sector in Focus with HVN bid. Mkt cap 14m - time for a move up imo.

[opodio] 06/8/2018 17:22

yes someone dumping wholesale

Wait for profit warning imho and this will crater

[+eysenck] 06/8/2018 17:15

£250k sell at 2.50pm.

[aishah] 02/8/2018 08:11

Ignore the noise and concentrate on recovery prospects here. Techinvest included PTY in their 2nd half best buy list. WHI has 18.5p target.

[chrisdgb] 01/8/2018 16:04

Some great words and totally agree with the sentiment............

[glasshalfull] 01/8/2018 15:19

Afternoon folks,

I last posted extensively at the end of April, providing an overview of the investment case as I saw it, and then at the end of May to confirm I’d modestly increased my holding.

Since this time I have trimmed quite a few holdings and increased my cash balance. PTY was one of the companies I reduced my position in, locking in profits over recent months from purchases made in 2017 when the share price was in single digits. Nothing wrong with PTY, far from it, just prudent portfolio management as I saw it.

Anyway, on logging on a few days ago I was astonished at the amount of misinformation posted here concerning Mr P Swinstead’s holding & further inaccurate posts regarding the pension deficit. Appears that “fake” news is all the rage these days!

My post 6312 covers Mr Swinstead’s shareholding. When I last looked Mr & Mrs Swinstead held just over 12m shares. This included 1.6m shares purchased by him in 2015 & 2.9m sold between 2016-2018. Why investors persist with the notion that this is an overhang is beyond me. He is a savvy individual and should he wish to fund his retirement further then I’m sure he would engage with the company & brokers to engineer a secondary placing or an approach would be made to institutions interested in picking up a tranche of stock. Happens all the time. I don’t believe he’s sitting for one minute and hitting the bid with a line of 50k shares a pop!

I also previously posted on the pension scheme deficit. I believe it had c.70 members & has been closed to new members & future accruals since 1995. Retirees make up 88% of members. The deficit had previously risen due to the lower bond yields we witnessed in recent years. This is a small pension scheme which also only has a small bearing on PTY, which paid £230k to the scheme annually. Results for 2017 confirmed that the pension deficit had decreased from £1.85m to £1.06m at year end due to a good return on scheme assets.

The nub of my post however is to compliment Alan Rommel & his team in delivering positive H1 results. Delivery of double digit growth while also referencing, “tight cost controls & w.c. management”, indicate that they are on target to extinguish net debt by year end. Reminder this would mean that they would have reduced net debt from £7.38m at 31.12.2015 to zero in the space of 3 years. Simply stunning should they pull it off.

I’ve therefore taken the opportunity to increase my holding over the last couple of sessions as the shares look extremely good value down here. Despite confirmation on positive trading, the share price had fallen back by (-20%) in just under 2 months (they hit 15.7p in early June & fell to 12.15p mid price yesterday). The H1 trading update suggested robust trading with a strong outlook which indicates Parity are on a prospective PER of 7 for the year.

All IMHO of course.

Kind regards,
GHF

[aishah] 01/8/2018 11:04

Parity Group Plc: The 'best-kept secret' in recruitment and consultancy.

Earlier in the year Alan Rommel, told Proactive their aim is to become a leading provider of digital services to their clients through two complimentary businesses.

''The first of those is a consultancy business which focuses on larger deliverables ... higher margins, higher value, longer-term contracts ... increasingly focused on the data markets and data analytics''.

''That is supported by our professionals division which is fundamentally a recruitment business ... they're well established, have a strong brand in the IT sector and we support IT and business change programs for our clients''

Trading update confirmed progress. Still a Buy imo.

[nico115] 31/7/2018 18:21

Margins 2pct Tell me , if they mis price a contract then what happens ?I'm not bearish here I just think there is a right price to pay for everything So if this is worth 15 to 18p which it maybe the buying price is 8 to 10p

[+eysenck] 31/7/2018 13:13

Thanks thirty, a very balanced and considered post.

[opodio] 31/7/2018 12:27

Wait until it warns

Brexit is delaying a lot of projects in the finance world
That will lead to a lot less contractors


im standing by my 5-7p target

[weatherman] 31/7/2018 11:15

Net debt was £1.6m last accounts, probably now cleared to net cash. Margins improved to 2.15%. They are using their own IT guys to develop their service and software side.

[opodio] 31/7/2018 10:56

They are also having to factor debts to keep going

Wait until it warns

Brexit is delaying a lot of projects in the finance world
That will lead to a lot less contractors

[onjohn] 31/7/2018 10:44

Tell that to Swinstead who sold a massive load down here

Seems to be dropping each day

Debt is £7m or 70 per cent of the market cap. Ouch!!!

[weatherman] 31/7/2018 10:33

Opodio - Shorters usually pick on over priced stock - not ones already undervalued. You seem like a novice, so why not go and play somewhere else. I've been in and out of this stock for over ten years, and on a couple of occasions have made 3 or 4 times my investment when it rockets above 30p.

[opodio] 31/7/2018 10:24

profit warning coming
former ceo dumoping as fast as he can

[chrisdgb] 31/7/2018 09:21

Can we not just focus on the fantastic recovery story underway here..........?????

[opodio] 31/7/2018 09:12

Level2 weakening

[opodio] 30/7/2018 17:03

He might take 9p for the next lump

Best to sell weakness these days and stop a small loss become a huge great big hole