Plus500 Share Discussion Threads

[sailing john] 17/9/2019 09:12

Mark - it's Thursday for IG Q1 and AGM

[gbh2] 17/9/2019 09:11

I have the IG update logged as the 19th,

[markbelluk] 17/9/2019 09:07

IG results tomorrow.....

[traderguy1] 16/9/2019 07:49

Nice recovery in progress

[metis20] 16/9/2019 07:11

Friday 13th Sept 2019 - highest price paid during the share buyback 757p



(During the 2017 buyback, shares were bought back every trading day until 800p was reached.

The cash available for the 2017 buyback was US$10mn - for the current buyback it is UX$50mn)

[warik] 15/9/2019 20:23

Previously CS has paid 757 for buy backs but I dont think its about price maybe something else.

Also Odey reduced their stake by 1% and JPM sold out completely do you think it will fall?

[warik] 15/9/2019 20:21

I think they stopped as they have used up nearly £6.7m for some 900k plus shares.

Maybe they will wait for pull back and then buy you never know.

I think its overpriced now as there has been no news and it's been going up which is a good thing however dont know what's the fair price when Peel Hunt says reduce with 600, Berenberg says hold with 800 and Liberum buy with 1000.

[metis20] 15/9/2019 13:55

Average of previous 5 days - 5th-11th September - was 712p

5% above that average is 748p - so could have paid up to 748p on 12th September according to the 5% rule - but max paid was 740p.

Buyback stopped on 12th at 13:28hrs with a 739.8p purchase.

Closing price on 12th was 750p

Looks as if cap on buybacks on 12th was 740p.

[monty456] 14/9/2019 19:30

This is in the FCA handbook on buybacks

[monty456] 14/9/2019 19:24

As part of the rules the company cannot pay more than 5% above the average of the last 5 days.
the

[metis20] 13/9/2019 09:02

Again interesting -

Yesterday's total vol was about 900k and the buyback volume was 7k

The smallest daily vol since the 2019 buyback started (apart from that odd first day) was on 9 Sept.

On 9 September the total volume was about 500k and the buyback volume was 43k.

Maybe your idea of a share price cap that changes from day to day may be part of the formula.

[sailing john] 13/9/2019 08:51

Thanks - hadn't looked back at other days - I suspect it isn't that simple to unravel the formula and likely to include a variable volume cap based on some percentage of trades.
Edit could be 742p of course! (looking back at your link - no time to review other days)
SJ

[metis20] 13/9/2019 08:13

sj - interesting idea but they were buying above 740p on 22nd August 2019



However - does the buyback target vary from day to day with an ultimate buyback target share price value of a set amount? That overall target was 800p for the 2017 buyback.

It looks as if the max. daily permitted spend is £500k for the current buyback.

[sailing john] 13/9/2019 08:07

Metis - I think the buyback price cap yesterday was set at 740p as they were all at 740 and below and bought when the price dipped below 740 at 1pm. No idea if this is a fixed cap or is adjusted dependent on other factors.

Provides a nice floor though

SJ

[metis20] 13/9/2019 07:22

Looks as if some shorts were closing yesterday because the buyback was much smaller than usual (7k versus daily average of 60k) and the share price went up about 13p.

Just possible that the target price for the current buyback is 800p. (That was the target for the 2017 buyback.)

The current buyback is for up to US$50mn and so far US$8.6mn have been used (excluding costs).

[chucko1] 12/9/2019 16:59

I’m not into charts, but if I was ...

... I’d be looking for 800p and then a bit of a tussle.

[valentine73] 12/9/2019 15:44

Agree with that, and the 6mth chart looks super - nice upward trend since the drop in April

[chucko1] 12/9/2019 14:49

SJ, I do agree with your point about the increasing maturity of PLUS. Many of the previous risks of investing in PLUS have been reduced (few remaining owners’ shares, KYC issues and ESMA etc.).

The point remains that PLUS is uncorrelated with the overall market, and is not expensive at this price.

[valentine73] 12/9/2019 14:33

Nice timing for your buy

[sailing john] 11/9/2019 11:29

Re Shorters - They will close when they think they are wrong about price direction. I don't think anything has changed in that respect (their views not mine) so as the price increases they are more likely to increase their positions as we have seen over recent months. Not something I worry about personally with 107% £880m long and 7% short less than £60m and both sides of course think they are right about future direction - time will tell.

I'm pretty sure shorters see ASIC tightening as a threat and it is but perhaps just one third of the 15% revenue they currently have from the region imo. Nothing like the ESMA situation. Against that is the low valuation with PE sub 8 and a yield of around 8% at 730p

On the plus side PLUS are clearly maturing into a lower churn provider and now have enough clients that they are established and respected in the regions where they operate.

SJ

[base7] 11/9/2019 11:10

At what point do the professional shorters ( hedge funds etc) start closing their positions.With undisclosed shorts under 0.5% there could be over 10% of our stock being shorted & the majority will either be losing money or seeing a substantial reduction in their paper profits if they are still short from earlier this year.

[gbh2] 11/9/2019 09:30

Thanks metis20, I actually picked up a few yesterday based on the research I did last year, trying to get up to date now.

[metis20] 11/9/2019 09:20

gbh2 - see



that news, which came out on 22nd August, was accompanied by a c30p drop in share price on the 22nd. The share price has steadily been recovering from that low of 683p with the help of the up to US$50mn share buy back and improved volatility in markets.

No increase in shorts over 0.5% published since 4th September.

[gbh2] 10/9/2019 17:11

Has plus much exposure to the Australian market?

[bazildonbond] 10/9/2019 12:15

for 30 more Plus 1 faucets from the link.