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Share Name Share Symbol Market Type Share ISIN Share Description
Record Plc LSE:REC London Ordinary Share GB00B28ZPS36 ORD 0.025P
  Price Change % Change Share Price Shares Traded Last Trade
  1.85 4.52% 42.75 321,750 16:35:07
Bid Price Offer Price High Price Low Price Open Price
42.50 43.00 44.00 42.00 42.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 25.56 7.74 3.26 13.1 85
Last Trade Time Trade Type Trade Size Trade Price Currency
16:28:41 O 4,670 42.575 GBX

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DateSubject
27/9/2020
09:20
Record Daily Update: Record Plc is listed in the General Financial sector of the London Stock Exchange with ticker REC. The last closing price for Record was 40.90p.
Record Plc has a 4 week average price of 31.70p and a 12 week average price of 31.70p.
The 1 year high share price is 44.60p while the 1 year low share price is currently 25p.
There are currently 199,054,325 shares in issue and the average daily traded volume is 1,046,048 shares. The market capitalisation of Record Plc is £85,095,723.94.
24/9/2020
17:40
wexboy: Ta. Record 'always lacked growth'...this is both true & false. Look back at 2009: Record's total AUME was down 43% yoy to $31.5B & 97% of its total revenue came from NON-passive hedging AUME! And as we all know now...co-ordinated/unprecedented/sustained central bank intervention effectively destroyed the FX/macro fund sector over the past decade. So hanging on to ANY of its dynamic/multi-product/currency for return AUME & £13M of related revenue is actually quite the achievement. But Record's REAL achievement has been a four-fold growth in passive hedging from $13.0B to $53.9B & an eight-fold growth in related revenue from £1.5M to £12.0M today! Unfortunately, this also meant replacing most of their non-passive hedging business (earning on average about 15 bps today) with a passive hedging business that earns 3.0 bps instead. Which doesn't seem like the smartest strategy...EXCEPT when you consider the likely alternative may well have been extinction (as for most of its FX/macro peers)! So yeah, because of this decade-long fee-rate recycling process, all the average investor has seen is NO apparent revenue/earnings growth & little reason to get excited about buying into Record. But with passive hedging now the key AUME AND revenue driver, more signs & likelihood of increased currency volatility & macro dislocation, the appointment of a new CEO & Head of Sales, and of course this new $8.0B dynamic hedging mandate win, we now have the news-flow & the emerging/accelerated growth to attract a potentially huge cohort of new investors, and achieve a step-change in valuation & the share price. As you say...let's hope this is just the start!
23/9/2020
17:23
trident5: I don't think the market has got that dynamic hedging fees are much higher and as mentioned in the tweet the only significant additional cost is performance pay for the team. If they get this signed off it will be a very significant boost to their figures. Also, there's a question of whether there's more to come - is this a sign that dynamic hedging looks more attractive to clients? Are consultants involved in recommending it? Can the new Head of Sales liven things up, at last? There's a big safety margin here too - solid consistent revenues and profits, a very big cash buffer on the balance sheet, an undemanding share price rating and seemingly more covid resistance than a lot of other businesses.
23/9/2020
16:54
wexboy: Obviously tempting to take profits on a sudden/significant share price rally...but I suspect many current/potential Record plc investors may be seriously under-estimating the earnings step-up/potential when this new $8 billion dynamic hedging mandate goes live! Thread: https://twitter.com/Wexboy_Value/status/1308122161073315847 And: https://twitter.com/Wexboy_Value/status/1308475600882069504 Cheers!
23/9/2020
06:40
dlm2602: trident5, It would be interesting to see the staff costs over the 2 periods. I suspect the average salary per employee has dropped dramatically as the number of high paid employees/directors have been replaced by more junior staff. I suspect the number of employees have increased too due to the increase in legal and compliance type issues. With regards the latest share option awards, I think the HR director's award is well deserved. He has been with the company for 10+ years and probably missed out when the company floated. The other director although more recent is head of strategic initiatives. If she is successful, she will bring additional revenue to the company and all shareholders should benefit. If she doesn't, she won't be around long enough to exercise those options. Also the strike price is at 37p so the company's share price has to increase by a material amount before their after tax profit becomes significant.
22/9/2020
16:05
dlm2602: Trident, well done. I agree with you. Edison's forecast profits for YE21 and YE22 are around £5.6m. This mandate award must give that forecast a significant boost $8bn under management at the average dynamic hedging fee of 16 bps = is nearly $13m or £10m. Even if big discounts in management fee are given for the significant mandate size, you would hope the company would end up with profits of £2.5m from this mandate. In the context of current forecasts of £5.6m profit that is a very significant gain and in my view the share price still doesn't recognise this value. AIMO Maybe NR sold his shares at 37p too cheaply!
22/9/2020
14:27
dlm2602: trident5. Not sure what you are upset about. The shares were bought by the company to go into their share option scheme to then be offered to senior staff. Those option have a strike price exactly the same as price Neil Record sold the shares. It is for me hugely refreshing that the company have bought these shares in the market rather than diluting existing shareholders by just creating new shares. Also, the recipients of these share options won't see any profit unless the share price exceeds 37p. My only slight concern (and this may be yours) is that there may have been other larger shareholders who would have been happy to sell at 37p and they were denied the opportunity. That said at least smaller shareholdings can be sold for 10% more now given the positive announcement.
21/9/2020
15:36
lord gnome: I've also taken the opportunity to bale out today. Nothing wrong with REC, quite the opposite, but no harm in taking an unexpected profit in this market. Good to have a bit of firepower with so many bargains on offer. May buy back in if the share price does manage to reverse ferret.
21/9/2020
09:51
under the radar: OT ... Heads up (BOR) Borders and Southern :- 1)465m barrels of condensate (light sweet crude) 2)Own 100% of all acreage 3)Darwin (discovery) costs are under $35 a barrel 4)474m shares in issue 5)£3m mkt cap = nothing at all priced in and priced to fail 6)Bod own over 10% of shares 7)Rkh sea lion will get sanctioned next year which will do wonders for BOR 8)Bottomed - no sellers left as all flushed (out after a long downtrend) 9)Bullish divergence on chart with bullish white candles being formed and coming to the end of an apex on a bullish reversal descending triangle (with a breakout coming very soon) 10)Enough money to last until April 2023 11)Update due in next 2 weeks The Market was over pessimistic and now a correction is due (it’s JUST starting now) Share price 0.7525p - it won’t be under 1p for long imho Put it on your watch list at the very least and see for yourself what happens I wish you luck whatever you decide! ATB
21/9/2020
08:19
bubloo: I cannot see this should spike the share price as hot has done. This mandate will build over time and we won't see benefits until next financial year. I have sold into the rise and hope to come back later. Hope I have done the right thing. any comments welcome
15/4/2020
19:31
konradpuss: Well, results on Friday. Did they call the dollar right? I guess they have not lost any money under management as they usually put out an RNS if such happens. Here is a guess, it will be a ' steady as it goes' set of numbers. Last time around (2008) it was a disaster for them and the share price, because of their then business model. I think they might well be in quite a good place right now with a good balance sheet and NO borrowings. Good old Neil.
Record share price data is direct from the London Stock Exchange
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