Provident Financial Share Discussion Threads

[bookbroker] 17/6/2019 18:29

Meijiman, NSF is valued at one tenth the value of PFG, a ridiculous notion that a shark could swallow a whale!

[bookbroker] 17/6/2019 18:27

Well, if you think directors enjoy piling their cash in a heap and then torching it, fine, but half a million is a lot to burn, see Snowball share purchase!

[meijiman] 17/6/2019 17:43

Mug management stiffed by advisers...share purchases by Directors to impress the market. Haha

[bookbroker] 17/6/2019 16:14

Director buys all the more baffling prior to the recent falls, assume trading performance ok along with capital buffer. Can only assume the Woodford effect!

[bookbroker] 14/6/2019 14:24

Falls on pathetic volume, definitely the Woodford effect!

[smurfy2001] 14/6/2019 12:59

Worth putting on a watchlist. Watch if fundamentals have changed in the next update.

[essentialinvestor] 14/6/2019 12:22

Thanks for the view. I've got it on a watchlist, however UK now skirting recession.
Outlook for medium term impairments may be less favourable.

[salpara111] 14/6/2019 11:47

The only thing you can say with certainty is that the next set of results is going to be hit hard with exceptional costs related to fending off the bid and those are cash costs!
There is a decent business in here somewhere but it was destroyed by management incompetence not external factors, the question is, can it be salvaged. The current market cap is already pricing in a decent recovery so it is too early for me to take a stake.

[essentialinvestor] 14/6/2019 11:31

With the UK nearing recession, it is a good time to buy a sub prime UK lender?.

[bookbroker] 14/6/2019 10:47

If this sinks much lower then the board will have much to answer for to justify their reason for resisting the advances of NSF.

[porsche1945] 14/6/2019 09:07

If Cannacord move to sell its a defo buy, Cannacord probably the worst broker, and thats saying something, at share ratings, truly abysmal and always wrong. A Canadian company whos own share price is in the dirt, that maybe is better sticking to Canada.
That idiotd Woodford still having to unload these, when it stops and hopefully he is out for good, share price will recover.

[bookbroker] 14/6/2019 09:01

Problem here is the holding of Woodford and Invesco having too much influence over the share price trajectory, volatility is due to this more than the actual business performance and capital position.

[bookbroker] 12/6/2019 13:58

Find the Canaccord note a little bizarre at this juncture, no access to it, but assume their information is in the domain of the investment community, and after all the statements made to investment community as a whole, and their leading investors in defence of the bid by NSF., it would seem somewhat ironic that having effectively fended of the advances of NSF that they would succumb to the pressures within their business sector, Canaccord suggesting their financial position precarious!

[russ1983] 12/6/2019 13:04

Cannacord moved to sell with 4.30 target...pretty bad view on their prospects/capital positon

[wad collector] 12/6/2019 12:41

Taking bit of a plunge today despite yesterday's director £50k buy. Wonder why down 35p?

[robinnicolson] 12/6/2019 12:23

Canaccord Genuity downgraded its rating to sell this morning, citing precarious capital position and risks in dividend per share.

[essentialinvestor] 12/6/2019 11:28

Wad, lol at won't go hungry!, his weekend get away alone was bought for over £6 Million in cash. How much is the main house worth?. He's got overseas property as well from memory.

[wad collector] 07/6/2019 14:40

Sounds like a man who has a lot of holdings to reduce!
Got to be impressed by someone who makes his own fortune out of other people's money though. Bet he won't go hungry even if all his funds collapse.

[dual] 06/6/2019 16:48

Woodford has reduced his holding to just over 18% probably more to come.

[richardbrook1] 05/6/2019 19:02

Numis reinstated a ‘buy’ rating on Provident with a target price of 695p.

“The reason for the lapse was said to be the delay driven by the regulator, but we suspect NSF's capital position to be the major consideration,”; Numis said.

“We believe Provident will have to take a charge of c.£20m to cover the costs of the deal, but the group retains surplus capital and is being valued at just 6.7x 2020 earnings."

Numis added the Provident’s stock looks “compellingly cheap” now the risk of having to support NSF has passed while recovery is underway and the group remains a “market leader in all business lines”.

[fenners66] 05/6/2019 17:18

Haha he's got Kier as well ?

If you were trying to put together a dog portfolio - before they turned dog - you would be hard pressed to beat him !

[porsche1945] 05/6/2019 11:52

With that idiot Woodford a forced seller these may struggle to get much further for a while but I think once the Woodford overhang with that huge holding is gone it can only be a good thing, can see these recovering ok, get proper liquidity back, same with all the others he has huge chunks of like Card Factory and Kier.