Pcf Share Discussion Threads

[graham1ty] 12/11/2020 10:03

If the right portfolio of loans came along, of course they would look. But PCF has done this only once before ( think that is right). Infinitely more important is concentrating on the existing business.

I do think PCF remains very cheap, but we need to see the impairments in the final results in a couple of weeks to see what real impact Covid has had on their loan book.

I would be very, very surprised if they made an acquisition

[geraldus] 12/11/2020 09:51

PCF will be looking for an acquisition.

[graham1ty] 12/11/2020 09:46

Geraldus, I do not think Somers have the slightest interest in taking out the minority. This is an investment for them, not a subsidiary.

And with their stake, no one else can bid

[geraldus] 12/11/2020 09:26

Not one on one. - Taking out a struggling company at a bargain price.Should fire this up.A Phoenix.

[graham1ty] 12/11/2020 08:37

Hot corporate action ????? What on earth are you talking about ?

[geraldus] 11/11/2020 16:26

Yes looking perkier by the day.Hope to see some movement with some hot corporate action.

[mark of the rushes] 09/11/2020 23:44

Moving up nicely now.

[the millipede] 12/10/2020 11:48

FWIW I have made the mistake of believing bad news is priced in too many times now. I don't think it ever is really, especially on aim. It makes sense if you think about it I guess - before disaster strikes there is always some chance it won't happen, and the share price will normally reflect that chance, even if only a bit.

I think it is worse on AIM though because with small free floats a few small sellers can shift the price downwards quite a large amount. (The converse is also true - a few small buyers can sometime shift the price upwards significsntly.)

Anyway, that said I think there are reasons to be cheerful. Used motor finance might become more popular if wages go down and people want to spend less on a car. Meanwhile the housing market is booming, at least round here. Increasing unemployment might well lead to a general increase in defaults but it is entirely possible still that a lot of this thinking is unnecessary catastrophising. Indeed, quite a lot of people have more disposable income because of the lockdowns and restrictions. And some firms are finding their employees willing to take pay cuts to save jobs. I think a well run, small and nimble disrupter like PCF could prosper in those conditions.

[cc2014] 08/10/2020 09:05

I've still here Graham although I'm still sitting on the sidelines.

The risk reward is very difficult to work out given it's hard to tell what the level of bad debts/impairments is going to be. I can't help but feel as unemployment rises things are going to get tough for all lenders.

We could discuss whether that's already in the price but I don't think it is.

[graham1ty] 08/10/2020 07:22

Thanks solarno.

Over the last five years Somers has been slowly diluted by fundraisings. They would always stand their corner if needed, but also expect over time to be diluted.

This flies in the face of that trend. Is it because they are just an investment fund, and they currently see good value ? Was there a forced seller, who just needed taking out ?

[solarno lopez] 08/10/2020 06:39

Under the rules they will be allowed to acquire 2% every year without triggering a bid

[graham1ty] 07/10/2020 18:09

Am talking to myself on this thread !!!! Investor community has completely turned away from PCF, and until we have some numbers......will remain unloved.

Re Somers, I wonder where the stock came from ? It cannot have been bought in the market. I wonder if a seller popped up, of 5m shares, and no home could be found. And Somers just picked it up to stop it getting dumped ?

[graham1ty] 07/10/2020 14:09

Somers Ltd increasing its holding by nearly 5m shares (2%). I am being ignorant re the Takeover Code, but how have they done this ? They must have a whitewash from years ago, but am surprised they can go higher without triggering something ?

And wonder where 5m shares comes from ?

Brings the free float down to just 20% of the issued capital

[graham1ty] 06/10/2020 12:47

Really disappointing reaction to the trading statement. Loan book growing, new business and good Prime business.

But until uncertainty of impairments is cleared up, the price looks like it will languish until December......

[graham1ty] 02/10/2020 15:14

Hey, ho. Straight back down again. Looks like we will be 18p for another 2-3 months......

[geraldus] 01/10/2020 16:08

Just shows the importance of experience hands at the helm when in unchartered waters.Hoorah for Captain Scott and his crew.Could even come to the aid of a distressed competitor by buying them out on the cheap.A noggin of rum all round.

[graham1ty] 01/10/2020 14:10

Tipped again by Simon Thompson in the IC. Has not had any impact. ST has tipped PCF 3/4 times in the last year and it is not responding, and readers are not believing it......

[rightnellie] 01/10/2020 11:54

and recently -bridging finance - useful in the rush to complete house sales before the tax break ends. Lots of housing market interest and movement at present but come spring 2021 I think it will become a very very different story

[rightnellie] 01/10/2020 11:49

Agreed Tongosti - steady in face of the pandemic and likely to continue to grow. I like the mix of loan areas cars:films:motor homes:small business - an interesting mix

[tongostl] 01/10/2020 08:14

Well I'm in. PCF is clearly a very well run company.

[graham1ty] 01/10/2020 08:14

Opened with more of a whimper than a bang. It will take a bit more time for investors to reengage with PCF.....

[graham1ty] 01/10/2020 07:45

Pretty happy with that. PCF continues to grow, continues to move to prime categories, making it more resilient.

I hope Peel Hunt can generate some new interest. Feels rather “stale” at the moment, with no one looking, either positive or negative.

[igoe104] 01/10/2020 07:14

That's a extremely decent update especially under the circumstances.