Pendragon Share Discussion Threads

[rafas_reds] 20/12/2007 08:45

Getting tempted, might just wait till it exits the ftse 250

[ydderf] 19/12/2007 09:33

I just keep buying - not trying to catch a falling knife, just getting cheaper and cheaper prices for my purchases, bought at 30.25 and 30 this morning - happpy with that (13.3% yield)- and am in for more lower down........

[gelp] 19/12/2007 09:06

oh well down again - it's hard calling the bottom!

[gelp] 18/12/2007 12:46

ydderF - no not only buyer. M/C is now about same as Lookers and 4/5 times the sales(the downturn has hit all). The knock down in value from circa £1billion to 200 million surely already over reflects the poor sales at the moment.
because of poor new sales i understand there is now big shortage of good quality s/h cars, and historically at some stage there has always been a pick up. Depreciation o the used cars is negligable for that reason.
PDG does a lot of own financing so less likely that owners have bought on mortgages(25 years) for an assett that changes in 2/3 years.
I have been to HO as s/h at some agms and impressed with centralised operation and the determination and skills of the board - i hope they can fund buy outs now and take even bigger chunk.
Perhaps Tony Bramall will stop buying shares in Lookers and buy PDG (with the dosh he got from PDG) and get better value for his £1!(no criticism of Lookers intended - also looks good value anyway)
The pity is someone else may spot the value and pick em both up and make a billion in 3 years instead of small holders.
The institutions do have a habit of buying high and selling low!!
I gather that high priced employees are going - that does not mean that lower cost employees cannot do the same roles - the higher cost guys started of young and enthusiastic themselves once!


(p.s. well done on IRE - of course they settled!)

[fo77y] 17/12/2007 12:50

the latter, but maybe over longer period. Times are hard in most industries at present, in particular this one. There will be a recovery, the only uncertainty is how long it takes.

[ydderf] 17/12/2007 11:11

am i the only buyer...........? these are on a interesting risk/reward ratio imho - either they go bust (but probably not before paying another 4-8p of divis), or they are a three-four bagger over two/three years.........

[gelp] 04/12/2007 17:31

Imab. yep. you have Point or two. thanks for post

[muffinhead] 04/12/2007 06:59

some news on US car market

[theo97] 03/12/2007 10:37

Pendragon needs to look at its web site particularly Stratstones old fashioned poor display of quality products not good enough to encourage potential buyers should look at the like of Aud UK or Porsche as examples of presenting goods.
Difficult time for selling luxury items but the garages,stock and friendly helpful staff not helped by poor internet site IMO

[fesuvious] 30/11/2007 17:30

eh? Could you explain?

[jonny_258] 30/11/2007 16:22

yes matey its called the naked trader effect

[fesuvious] 30/11/2007 15:02

Hi all, my first post here... take it easy on me.

I hold Pendragon stock which I purchased (inc all costs) at 38p per share.
I figured that its not too bad a business and also figure that it can't go much lower without someone taking an interest......

Anyway, anyone else watching these, a climb of 3.8% at present, with no news reports out.

Anyone have an opinion, could this be recovery? Personally Im hoping over 3-4 months to see this go to 60p. Do we have any opinions on this ?

[imabastard] 29/11/2007 16:04

Gelp

"sharon you are spot on - these guys know the game, enjoy it & play it well - ok so bought a 81 - lots were caught out then as events unfolded looked good value and probably was."

....what's to say this won't be the case this time too ?

Historically, PDG have always had a disposal or two to rely on to bolster the figures. It appears that this year, they are relying soley on their car trading performance and we are seeing the naked performance.

As a senior manager for a large group of car retailers, I have to utterly disagree with your post....sorry.

[mister md] 29/11/2007 12:17

well Lloyds sold around 3mn, and the directors bought around 3mn so that cancels each other out

[strutt12] 29/11/2007 12:14

I'm sure they collected stock from Lloyds selling their holding

[mister md] 29/11/2007 11:43

trying to collect stock?

[imabastard] 29/11/2007 11:28

It's the MM's having a laugh.......mostly buys....can't blame them, eases the tedium !

[mister md] 29/11/2007 10:38

still big buys going through and price starting to move up accordingly

[imabastard] 29/11/2007 09:47

Big buys going through, 1000k , 750k, 750k, 250k, 250k etc

[gelp] 28/11/2007 16:56

sharon you are spot on - these guys know the game, enjoy it & play it well - ok so bought a 81 - lots were caught out then as events unfolded looked good value and probably was.
they tend to knock out propertuies and release cash when they can. my forcast is that they will take the opportunity to increase the size of the business - not when but who at knock down prices. could be USA as well.
todays buy is more than a statement its an investment!
The debt intest probably a bit high but one way only for interest rates now surely.

[sharon goss] 28/11/2007 12:58

Every property they own, many of which are in prime locations, are valued on the balance sheet at their value of 12 years ago.

I dont need to tell you what that is worth to private equity groups.

Of course they have a large debt pile, but then they have a pretty enormous inventory too.

[imabastard] 28/11/2007 12:50

Where is the asset backing ?

[sharon goss] 28/11/2007 12:45

Indeed. 10% yield and asset backing the like of which you rarely see makes this a low risk buy at current levels, irrespective of current trading conditions.

imo.