Petershill Partners Share Discussion Threads

[jonwig] 10/5/2022 06:50

Spec - basically 180 days (prospectus p215). I think the size of the discount and good earnings outlook made it a pretty obvious decision.

However, the markets have turned pretty nasty, and I'm not certain how resilient PHLL will be.

EDIT: 43,918 shares bought yesterday.

[spectoacc] 09/5/2022 20:32

What are the lock-up arrangements on PHLL?

Looks to be heading back near to my £2, & I'd have thought any buybacks around there would be good for the co too.

[topvest] 09/5/2022 19:38

Unusual to start a buy-back so soon after an IPO.

[jonwig] 09/5/2022 07:47

Share buyback programme details:

[spectoacc] 01/5/2022 15:10

Agree re lock-ups. Bought below £2 but sold out again (too soon), & wouldn't mind another chance around there.

[topvest] 01/5/2022 11:29

Yes, this is an interesting vehicle and is on my watchlist. I am a bit of an investment manager fan and alternative investment managers are the best place to be at the moment. I don't quite follow why GS didn't sell more from their private funds on IPO as they are now faced with 75% and a probable need to sell down at a discount. Anyone any thoughts on this or was 25% the most they could get away? The initial lock-up was 180 days for some sales, but I suspect these will not happen until the share price gets closer to net asset value. Possibly a little early to get on board in these choppy markets, but may be tempted on further weakness. Bridgepoint is alos interesting, if it drops to an equivalent rating of Intermediate Capital. No rush to buy IPOs until the lock-up's are in the rear view mirror though.

[byzantine626] 20/4/2022 10:04

Thank you, Jonwig! I was too excited!

[jonwig] 20/4/2022 09:55

Thank you!
Clickable link:



[Hint: capitalise one of h t t p.]

[donald pond] 20/4/2022 09:55

I listened to the call, all sounded positive but a lot of industry jargon going on. Will need to look at the presentation more fully but certainly happy to continue holding

[byzantine626] 20/4/2022 09:39

We should read this presentation
hxxps://www.petershillpartners.com/homepage.html#events

[jonwig] 20/4/2022 08:12

Looks good value at this price. PER about 16x and book value 339p.

Proposed buyback is logical, at this discount. (Needs a vote.)

No dates for the dividend (around 2p).

[donald pond] 20/4/2022 07:16

Look OK, it's not exactly straightforward though! Share buy back programme is interesting for something within a year of IPO

[jonwig] 20/4/2022 07:10

FY results (I can't find them anywhere else):



No time to read right now.

[marksp2011] 04/4/2022 21:37

188==>262 in less than a month

[donald pond] 04/4/2022 09:58

Results and accompanying presentation on 20 April btw

[jonwig] 24/3/2022 10:55

But it's not a single trade, it's a number of trades aggregated.

[donald pond] 24/3/2022 09:56

I get that jon but in my experience an uncrossing trade above the mid shows a keen buyer and one below the mid a keen seller. The size of the trade is relevant, of course. Most UTs can be ignored but if they are for £100k+ and away from the mid it tells us something

[jonwig] 22/3/2022 17:58

donald - the large trade at 16;35 was the closing auction uncrossing ("UT"). Not a buy, unfortunately.

[donald pond] 22/3/2022 17:43

Starting to get decent volume too, nice buy after bell today, looks like an institution. I bought too early but am in profit now at least and it seems on right track. Quarterly report well overdue though

[marksp2011] 22/3/2022 17:15

Still buyingExcellent discount v peersWill stop at 300

[spectoacc] 09/3/2022 16:23

Sold half, wasn't expecting it to bounce this fast.

Not sure what the market, oil, and gold sees today that I don't - FTSE +175, oil -$6, gold -$49.

[spectoacc] 07/3/2022 12:31

Bought in here for the first time today. Plenty of positives, the negatives largely being whether PE has been in a bubble, and the slight distaste about investing in the funds of the parent.

Good luck holders.

[jonwig] 18/2/2022 10:54

MrScruff - you'right, but in the absence of up-to-date earnings numbers, the balance sheet is a useful backstop. (Though admittedly we're ultimately valuing unquoted companies.)

[mrscruff] 18/2/2022 10:32

PHLL should NOT be valued on NAV as it is not a IT but a company earning money through fees so AUM and there for priced on earnings P/E. End of year results should declare a dividend of around 4%. Share price decline is shocking. Some one will get rich... I bought too high.

[donald pond] 14/2/2022 09:23

I think we need some results to provide clarity. Asset management probably not the best area to be in right now though