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PMI Premier Miton Group Plc

1.40 (2.3%)
01 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Premier Miton Group Plc LSE:PMI London Ordinary Share GB00BZB2KR63 ORD 0.02P
  Price Change % Change Share Price Shares Traded Last Trade
  1.40 2.3% 62.40 212,916 16:35:25
Bid Price Offer Price High Price Low Price Open Price
60.00 62.00 61.00 60.50 60.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investment Advice 90.57M 9.57M 0.0606 10.07 96.33M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:25 UT 4,938 62.40 GBX

Premier Miton (PMI) Latest News (1)

Premier Miton (PMI) Discussions and Chat

Premier Miton Forums and Chat

Date Time Title Posts
22/11/202318:06Premier Miton Group263
06/11/201313:12Petromanas Energy Inc....... 250% + Returns in 2months ?26

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Premier Miton (PMI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-01 16:35:2562.404,9383,081.31UT
2023-12-01 15:49:2162.001,8251,131.50O
2023-12-01 15:11:1861.3160,00036,786.00O
2023-12-01 15:06:3660.9610,2666,258.15O
2023-12-01 14:15:2261.471,256772.00O

Premier Miton (PMI) Top Chat Posts

Top Posts
Posted at 01/12/2023 08:20 by Premier Miton Daily Update
Premier Miton Group Plc is listed in the Investment Advice sector of the London Stock Exchange with ticker PMI. The last closing price for Premier Miton was 61p.
Premier Miton currently has 157,913,035 shares in issue. The market capitalisation of Premier Miton is £96,326,951.
Premier Miton has a price to earnings ratio (PE ratio) of 10.07.
This morning PMI shares opened at 60.50p
Posted at 20/11/2023 12:22 by sphere25
14 Nov '23 - 09:07 - 247 of 261
0 0 1
Very impressive volume today, I wonder if there is a research note out on them ?
Nevertheless this buying must have mopped up a lot of the perennial sellers.


As far as I can see, this pop higher wasn't from a research note. There was some commentary around BRK, but there was next to nothing volume in that too, so no influence here imo. I think it was about 2k in total exchanges when checking BRK.

This short term move alone is pretty much all based on enough sellers being cleared at these price points close to 50p - value seekers, technically oversold, rates falling, sentiment slightly improving out there, buying ahead of the results on the 5th December, short termers realising an overhang at these price points is coming to an end/gone....combination of all the above?

There was a couple of delayed prints of 461,546 and 400,000 @50p that flagged on ADVFN at 12:00 on the 14th November. I suspect these were the final clearouts of the sellers at that 50p level. So we had a 12% pop and then abit more, followed by a small pull back that got bought up. Now watching to see if this can breakout higher from here.

Someone has come in for a couple of 100k blocks at 58p and the price has just stuck its head above the 50 day moving average. These moving averages carry less weight outside of the larger caps with the algos programmed to ping off those levels imo, but there could be a short term trend appearing if it can push on from here.

It is still a downtrend overall, but outside of the long termers here, a push on here could result in continued short term momentum. Almost this time last year, from very late November, the price did a spike higher and then continued a gradual short term move higher.

No idea if it will mimic that, but this is an interesting juncture.

All imo
Posted at 14/11/2023 09:52 by rogen83
What’s the Brooks MacDonald link Flyer?

I purchased an awful lot of PMI two weeks ago in 100-150k chunks. I was hoping I had personally done a lot of the heavy lifting of clearing out the seller. So every 1p rise in the share price is significant to me now.
Posted at 14/11/2023 09:50 by rogen83
PMI earnings multiple has derated to about 10x, versus 13-15 historically. However versus peers PMI has derated (ABDN, JUP, ASHM have all rerated in the last month) where PMI has gone nowhere.

PMI offers an acquirer a pure play UK franchise with a solid performance track record, and strong brand. They are deliberately not benchmarking themselves to the broader indices so they can target alpha across a variety of economic cycles. I just think it’s a good and profitable business which is well undervalued now (admittedly like a lot of uk small caps).
Posted at 06/11/2023 08:00 by rogen83
agree, a good post. The crux of the debate really is about the shape of the market. Small and mid cap indices everywhere have been hammered during the monetary tightening phase. Clearly lots of depressed valuations out there across all sorts of sectors, and one could just buy a portfolio of 30 bombed out names. But this is what PMI offers with the added gearing of operational leverage into to better sentiment and flows going forwards. As we've seen with other small cap companies, if the market won't ascribe a fair multiple, then third party buyers will be interested in takeovers. PMI could easily be part of a bigger AM/WM roll-up, especially as big insurers and banks are crying out for more fee income given the inevitable roll over in rates will hit their interest income.
Posted at 05/11/2023 18:58 by sphere25
A decent barrage of buying came in here on Friday. It looks like a barrage of sells the way the trades are logged on ADVFN. Due to continued sellers in size, there are so many shares available that the buy trades are hitting the book as sells. The interesting thing is the increased buying pressure.

Clearly this is on the back of central bank moves with bond yields now firmly signalling a topping out process. The markets have been signalling this, but this time there has been a pretty ferocious bounce in the the equity indices here. The FTSE250, small cap here in the UK and the small cap IWM in the US too. Even AIM has managed a bounce.

If you just look at the charts, all these moves just look like oversold technical bounces in firm downtrends. However, the relation to the moves in the bond yields might suggest this is the beginning of something more than that. Clearly we can't sit here and get all bullish on such a short term move, but there is some bigger buying coming into some smaller cap shares too, whereas it has been pretty much a graveyard with minimal activity for a while.

We are clearly in a normalised higher rate environment, so on one hand, it isn't like we are just going to shoot higher, but on the other, if the market believes flows could reverse with more assurance on yields having topped out, and some rate cuts next year, then maybe some bullish sentiment could start to appear.

It isn't convincing enough yet to suggest a trend change out there, but I am going to be watching this one this week to see if the market does signal anything more. The theme at the moment is the big buying hasn't been enough to shift the sellers in any material way. The buying hasn't persisted long enough. The buying normally just fades away, and any bounce to the next price point higher, just gets swarmed by another big layer of sellers.

IF bigger buying does persist here, and this starts to move higher, or form a more bullish trend, perhaps there will be cause for some optimism.

Is that possible? We are almost conditioned now to sell any bounce or just expect continued downside. I wonder if there could be a small change in tone soon.

Let's see.

All imo
Posted at 01/11/2023 18:55 by dexdringle
They shouldn't be doing any purchases with shares until the share price is at least twice what it is now (which would still be only half of the peak share price)
Posted at 01/11/2023 12:20 by bmcollins
Agreed, although I would have preferred not to have diluted our existing holdings by payment in shares when out mcap is only about £81m. However for the 2 managers to be happy to take PMI stock at these levels & they are in the fund business themselves, gives me some (much needed) encouragement.
Posted at 20/10/2023 21:13 by pdosullivan
I doubled my holding in PMI this week. I set out the rationale in a blog post here:
Posted at 04/9/2023 11:06 by riverman77
Not done maths myself, but I had a look at some old broker notes and you can also see historic broker forecasts on Stockopedia. The 15p EPS that was pencilled in before looked very reasonable based on the AUM at that time. Fund managers have a lot of fixed costs and operationally geared, so changes in AUM can have big impact on earnings.

"They can add £10 billion to AUM at zero net cost" - easier said than done. How are they going to attract £10bn AUM in a weak market, with investors pulling out of funds and PMI fund performance mixed at best?

On the book value point - I'd watch this as most of this is intangibles. PMI is currently about 3.8x tangible book value (BV not really a key metric to value fund managers anyway, although if I were to look at this I would refer to tangible book value and ignore any intangibles).
Posted at 04/9/2023 09:10 by dexdringle
Premier Miton has a market value circa £110 million. It has £50 million cash and a net book value of £120 million so trades at NAV (or thereabouts). It has AUM of around £10 billion.

Surely this is a takeover target for a consolidator at this share price ? They can add £10 billion to AUM at zero net cost.

I don't see Premier Miton as a growth stock. More bread and butter, old tech, fund manager surely ?
Premier Miton share price data is direct from the London Stock Exchange

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