Provident Financial Share Discussion Threads

[jonwig] 09/7/2019 19:58

Woody isn't selling (today's RNS). He was sacked by Omnis Inv Mgt and replaced by Jupiter. The existing holding is just changing ownership.

Jupiter might be a seller soon, of course.

[discodave4] 09/7/2019 19:54

Think they are cheap now but recovery could drag on depending on Woodford selling. Will sit on hands and see what H1 brings at the end of the month.

[dual] 09/7/2019 13:25

Seems Woody is selling in dribs and drabs.Appears no one wants to buy a big chunk of him.

[dendria] 09/7/2019 12:00

Woody 17.98% to 16.83%.

[bsharman3] 09/7/2019 10:58

I'm watching from the sidelines here. I became interested because Keith Ashworth-Lord has been buying for the buffettology Fund as well as quite a few directors, most recently. However there is continuous downward pressure from the sale by NW and Invesco. Does anyone know if Woodford and or Invesco are planning to sell down all of their stake because they have a massive chunk between them...? Quite a few brokers have been downgrading them but at some point they will be a bargain - not sure if it is yet though! Any thoughts?

[bookbroker] 02/7/2019 09:30

Sooner Woodford and Invesco out here, particularly NW., the better, holdings of their size are a requisite for instability, Barnett is as big a culprit as Woodford, and I’m surprised Invesco, or its parent, has not nudged him out, his performance unlikely to have been much much better, but then stronger asset backing!

[bookbroker] 28/6/2019 09:26

It is laughable that the price NSF offered is 25% higher than where we are now, the argument for PFG directors correct in so far as using PFG’s size to enable the bid, but also putting great strain on NSF, but they had a plan, PFG ought to repay the compliment, because someone saw synergies! But the volume again high today which suggests a big line of stock is overhanging the market price.

[gowlane] 27/6/2019 22:32

The Directors seem to be rubbing it in here, picking up cheap shares that Woody is forced to offload.

Providing they do indeed turn out to be cheap of course, but they seem to be on track from what they have been communicating to the market.

[bookbroker] 27/6/2019 22:20

Personally, I do not think there is a rational market in this company’s shares currently, you have Woodford who is desperately trying to raise cash for redemptions, and his get out for a reverse takeover by NSF went by the wayside, and you have Invesco and Marathon who both supported the bid now disgruntled shareholders. The falls here do not reflect the trading performance as recent statement suggests an improvement. But I m still in the dark, director buying can not simply be a way of reassuring investors, it has little effect in that department these days, and why would they throw good money after bad! Someone wants to get out at any price, and that is most likely Woodford or Marathon, but a false market exists here!

[fenners66] 27/6/2019 21:52

That sell at the end sends a bad signal to the market, watch out for more sales...

[bookbroker] 27/6/2019 16:20

Looks like Woodford unloading another massive tranche, hopefully so, and not Invesco, but either on the basis of their screwed support for NSF, both Invesco and Woodford should be sunk together for their incestuous relationship!

[bookbroker] 25/6/2019 10:55

The non-execs, and executive directors have been buying a fair few of late, I do not read into that too much, but then why buy if you simply believe the price has further to fall, but PFG has unfortunately been locked onto NSF which is in a dire situation with its own valuation, its time PFG repaid the favour!

[bookbroker] 25/6/2019 10:52

I think that the market is basically going to force him to liquidate by punishing the stocks he holds, a false market is being created where he is involved. I have never understood why he felt the need to build up such substantial stakes in the companies he is invested in, but that is his way, likewise Invesco too, and I do believe it should be legislated by the FCA unless a takeover/merger is indicated. Woodford may not have broken the law, but his time is up!

[gregsc] 25/6/2019 09:59

Couldn't agree more bookbroker. He has interfered with other companies I am invested in, such as Stobart. A lot of publicity has been given to prisoners of his funds but what about ordinary investors in companies he now has to sell.

[rajni120] 25/6/2019 08:51

FFS EVERYDAY DROP DOUBLE FIGURES

[bookbroker] 24/6/2019 09:21

Would have been better had PFG not made a counter offer against NSF, the weakness in NSF share price has now had a detrimental effect on PFG, Woodford once again to blame, I see him in the dock down the line over his gross mismanagement of assets, the bloke still refuses to admit to his misguided hubris! The belief that he is infallible when it comes to investing capital! As soon as the restrictions in place on redemptions are lifted, you will witness a rush for the exit!

[bookbroker] 22/6/2019 08:51

Not only is this company being hung to dry by Woodford, but likewise NSF., one more reason why that bid by the smaller company was so misplaced, NSF likely to go up in smoke!

[fenners66] 21/6/2019 23:31

Its well flagged now - Woodford has to sell. The stock overhang forces the price lower - which reduces his fund more and will attract more withdrawals (when they are allowed again) so he knows he has to sell even more - but so does the market, so why buy , you know its going down.

He was the idiot who blindly put more good money in after bad - in many lousy shares saying he knew better than the market - however market is showing him he's wrong.

Problem is whilst locking investors in and still charging them for the privilege of losing their money he's still making £1m a month and while the fund keeps falling he will use that as an excuse to keep people locked in.

He can't lose.

Article in DM accuses him of some strange practice -you may want to read it - FCA has already decided to investigate.

[essentialinvestor] 21/6/2019 17:35

Had this on a watch list for a potentially small highly speculative buy,
however with the UK economy now slowing fast it's too high risk for me.

[bookbroker] 18/6/2019 08:47

The Woodford disease!

[meijiman] 17/6/2019 20:55

Well can only assume they thought they buying at the low and the share price would then rise. Not sure they factored in the Woodford impact.

[bookbroker] 17/6/2019 18:32

Shorters paradise I may add, no good for holders!!!