Pendragon Share Discussion Threads

[essentialinvestor] 25/10/2017 08:52

gutterhead, do you haveca view on sector valuations atm,? Thanks.

[mister md] 25/10/2017 07:41

Finn 2m share purchase RNS...

[mortimer7] 24/10/2017 15:40

Mister MD - you were spot on. Several massive volume transactions this afternoon. total trades over 54 million & rising. Wish the share price would.

[mister md] 24/10/2017 14:06

added some more. Just get the feeling a large buy order is being filled at these levels, volumes very high yesterday & today

[markycrispy] 24/10/2017 11:52

In at 21.75 not over extended myself but hopefully will see. Recovery longer term from here - they seem to have a good strategy in difficult circumstances

[ed 123] 24/10/2017 11:28

Par555

Trevor Finn was more than 10 years in post when he led Pendragon into the credit crisis while loaded with too much debt. Shareholders stumped up in a rescue rights issue.

What was learned?

At the last but one agm I questioned Trevor Finn about preparedness for a downturn (amongst other things). I was not impressed with his answers. When Pendragon announced share buybacks shortly after, that was confirmation he wasn't seeing things the same as me. I sold out.

More recently, the buybacks have been stopped and Trevor Finn has sold 3.5 million of his own shares at 34p, a price below my own sells. And what of the fortunes of those who remain shareholders? Today they are looking at a share price of 21p.

If I were still a shareholder I would not be happy.

And the latest trading statement? Management scurrying about, having been surprised at this downturn? Unfair perhaps, and others may have their own interpretations?

Of course, it's easy for me, playing at "armchair ceo" and Trevor Finn will doubtless have many good qualities. But, at the end of the day, I use my own money investing and I make my own calls. Relieved to have sold.

[bingham] 24/10/2017 09:48

Is that you Trevor?

[par555] 24/10/2017 09:07

The motor industry has always been a barometer of consumer sentiment.At present it is having to cope with the considerable uncertainties of Brexit,the migration to hybrid and electric vehicles and the squeeze on middle incomes and well off pensioner incomes caused by 8 years of low interest rates.

I worked in the retail motor industry for 40 years.Criticism of Trevor Finn ( post 2245 Ed 123 ) IMHO is misplaced.If anyone can manage to restructure this business to meet the challenges all companies in the industry face it's him.

[mister md] 23/10/2017 14:04

Well I bought back in at 23.95p - will see how it goes. No mention of change in dividend policy in the RNS.
2 months ago they were still talking about a progressive dividend policy:

"Dividend
The Group is proposing an interim dividend of 0.75p per share in respect of 2017, following a final dividend in 2016 of 0.75p per share. This dividend will maintain our dividend cover at a similar level to the prior year's. We intend to maintain a progressive dividend approach in the future.
The interim dividend will be paid on 24 October 2017 for those shares recorded on 22 September 2017"

[pal44] 23/10/2017 13:17

I will buy when they reach 15p .. gla

[ed 123] 23/10/2017 10:02

Yes, 25p was a good call, Oxman.

Chairman has gone but, as a former holder, it would take a lot to persuade me to return while Trevor Finn remains in post.

The major shareholders won't be happy and may express their own views to the new chairman?

[markycrispy] 23/10/2017 08:15

Oxman good guess

[ed 123] 10/10/2017 10:46

Another downtick. Currently trading under 30p.

How much money did Pendragon waste in buying back its own shares, at times at over 40p per share? The last lot they bought were over 36p per share. Plenty available now at under 30p per share.

[deadly] 04/8/2017 18:30

Good results seem to have gone unnoticed. 13.0% rise in EPS.

Low P/E, but good rise in the share price these last 2 days.

[mortimer7] 30/7/2017 21:02

Trevor Finn has been steadily reducing his stake over the last couple of years.
If he needs to get this funds out so be it. But it definitely is an inhibiting factor when it comes to the share price. Think TF is about 60 now...

[ed 123] 28/7/2017 09:09

25p? Where did that figure come from?

Not holding myself, but I wouldn't have been amused by Trevor Finn selling 3.5 million shares at 34p. He was behind the share buybacks in the 34-35p region.

[its the oxman] 28/7/2017 08:25

25p ? Seems harsh but wouldn't bet against it.

[its the oxman] 13/7/2017 09:41

Fears over weakening consumer driving this. Unfair and overdone perhaps but can't see it changing anytime soon.

[stocky12] 13/7/2017 08:14

New distribution centre and building on the success of used car sales, plus confirmation of a strong start to 2017 ahead of 1st August statement, and the shares go down. Interesting.

[dimpkins] 14/6/2017 18:26

3.5 mill big sale wonder if he is on his way out, not before time in my opinion

[mister md] 14/6/2017 16:25

even the CEO is selling :(

[jeffian] 15/2/2017 19:44

Well I was a seller at this level. I paid less than 15p for them and was thoroughly unimpressed by the results, so I banked the profit. It may be on a "modest rating" but the market doesn't seem to 'like' this company and hasn't given it a decent rating for years and I can't see much reason for it to break out of the range in which is has been trading for the past year, despite persistent good news about its marketplace. It's on wafer-thin margins and is vulnerable to any downturn in the car market as we come into a period when it is likely that consumer spending power will be squeezed. In the meantime, I have the opportunity to recycle the money into a deep-discounted Rights Issue in RPC which is guaranteed to give an immediate c.30% uplift in value with continuing growth from a company with an excellent track record.

Hope that helps.

[tintin82] 15/2/2017 18:56

Not that I would put much money where the IC say, but they have retained this as a buy citing the lack of recovery since the Brexit fall amongst other factors.

Been a volatile few days but broken clear of that small area of resistance which always bodes well.

Cannot understand sellers at this level, but I would happily be on the other side of the trade if I had the funds