Renold Share Discussion Threads

[mesquida] 09/2/2021 10:17

Sphere, theoretically today we should get one or more RNS's explaining who sold the balance of the 28m trade last Thursday, and, more importantly who bought.

[sphere25] 05/2/2021 12:31

I can't remember many transfers recently beyond when there have been funds merging. It's nearly always someone lobbing and someone buying rather than a transfer.

RNS out and as suspected it is one of the two above:

Tellworth have cut their stake to 22.48m. It still doesn't explain the whole volume. More holding RNS should follow to explain the rest.

Price hasn't moved, it's stuck so looks a fail atm.

All imo
DYOR

[mesquida] 04/2/2021 12:26

You don't think that this trade is perhaps simply a transfer between funds in the same management group.

[sphere25] 04/2/2021 12:24

How quick do buyers jump in on these exchanges! I wasn't going to buy here without a further look in but taken a small speculative position as a short term play, just in case it does breakout and runaway. Previous moves show how it can motor once it gets going.

We can also see the breakout potential on the chart IF it can clear 15p. IF it didn't and went stale, the bid was 13.8p (WNTS were sat there before the large exchange) so an exit around there with a small loss, no drama - move onto the next one.

IF that order at 14.9p (32222) on the offer gets taken out, the 15p will get cleared too. That seller at 14.9 currently will most likely be the one holding this back - key to the breakout imo.

27.7m seller? Appears to be one of these two:

Tellworth Investments (London) 30,124,498 13.36
Rights and Issues Investment Trust (Regional (England)) 30,000,000 13.31

Buyer? Who knows. Someone reputable and it makes it more interesting. All to be revealed.

The interesting aspect from long termers perspective is that someone has clearly decided that the confidence in the future of the company is there to come in and pick up 12% of the company. You don't often see a move of that magnitude. I remember it in PRES, but can't recall too many others. PRES moved really well afterwards.

Can RNO breakout?

All imo
DYOR

[spooky] 04/2/2021 10:05

I have no idea who the seller is. The obvious choice would be M&G but they don't have that many left, so its not them. Probably means they are still lurking in the wings. Interested to see who the buyer is.

[sphere25] 04/2/2021 09:03

27.7m print - that's a whopper! More than 10% of the company.

Book is thin here so a hard one to read the next price move on a large exchange like that but a noteworthy one.

RNO clearly run into numerous issues in recent times, including pre-covid. Risky one.

All imo
DYOR

EDIT: There is some buying coming in on the back of that monster exchange so just keep an eye on that recent high. IF it went through there then there could be a bullish move here.

[rburtn] 18/1/2021 15:56

Reality check - 580,000 prefs so not that big a deal - my mistake.

[rburtn] 18/1/2021 10:15

This company is like the proverbial waggonloaad of rotting fish, it's for trading, not eating. My first purchase of rno was over 15 years ago. It was once worth ten times as much as the current price with divi c. 5p a share - of which I received just three payments. From there it has been downhill nearly all the way.
However, my average buying price is 8.65p. Not a buy and hold then - or will the CEO prove me wrong? He obviously thinks it is, either that or it is his expensive toy. With a potential boost from off-loading the pension fund - and that seems to have gone very quiet - perhaps he will be proven right.
It isn't going to be easy though, the shrinkage of the company has left the preference share owners with a proportionately greater dividend call, a significant burden weighing it down. That might explain the disappearance of the years of retained profit from company value - and why some allow this situation to continue.
So you are left with AIM benefits - but you have to die first.

[thorpematt] 18/1/2021 01:33

I note that in 2015 RNO launched its "step 2020" plan.

with "ambitious growth plans over the next 5 years." (Their words not mine).

The question is what happenned? Over that 5 year period there has been:

Revenue growth >1% CAGR
EPS down
ROCE down
Book Value down

I recognise the difficulty of having such a high Pension Defecit but even taking that into account I'd have to question what exactly has been achieved and therefore whether the management team is doing shareholders justice.

As I am new to this share I would apreciate any views which could counter-balance my negativity in this partiular regard if anyone has anything to offer?

Also, there seems to be very little on offer presentation-wise and scant broker's info. to boot?

Apologies to any holders here for the negative tone. I am vieing this as a possible long position, so my agenda is not in any way a sinister one.

TIA

[bbarry8] 13/1/2021 09:15

Really positive update. Delivering on what they promised pre Covid, despite disruption. In normalised environment will do well

[tole] 13/1/2021 09:03

Ticking along nicely. Have a small holding from 8p. Renold revenues and order intake improvesIain Gilbertep industria manufactureraPIXABAYMachine industry company Renold said on Wednesday that it has continued to deliver "a robust trading performance" despite the ongoing impact of the Covid-19 pandemic on its markets.Renold said a recovery in both revenues and order intake has continued since November, with the group now expecting adjusted operating profits for the second half of the 2021 trading year to be "broadly similar" to those seen in the first half.The AIM-listed group stated net debt continued to fall during the period and stood at £23.0m at the end of December 2020, a reduction of 37% from the start of the trading year."Whilst considerable market uncertainty remains, Renold benefits from significant geographic, customer and sector diversification," said Renold."The group's ongoing focus on cost control, operational efficiency, productivity, and cash management is helping to offset continuing volatility in the company's markets."As of 0840 GMT, Renold shares were up 10.76% at 13.90p.

[mesquida] 24/11/2020 11:02

Nico, i would not describe it as a spike, but at the time the price did move up a couple of pennies before re-tracing. What surprised me is that the price hardly moved on the recent encouraging interim report, and we had to wait a week before any real buying interest appeared. What will be interesting now is whether the recent buyers go on, and if so whether M&G carry on supplying them with stock. It may he that M&G just let a few go so as to stimulate buying interest, and they are now happy to hold onto the rest of their holding , in which case things could get quite squeezy.The stock after all is clearly cheap, with broker share price targets as high as 30p.

[bigbigdave] 24/11/2020 10:38

Just for info this has appeared near where I live...

[nico115] 24/11/2020 10:17

Thx Is that what causes the spike at the time ?(Sorry last question !!)

[mesquida] 24/11/2020 10:16

200k @ 8.74 followed by 390k @ 9.43/9.60 .

[nico115] 24/11/2020 08:26

What price did Purcell pay ?

[bbarry8] 24/11/2020 08:07

From RNS - M&G down to 10.8%, from 14%

[mesquida] 23/11/2020 17:02

Yes, looks like M&G are going all the way down to zero, but hopefully they are professional enough to know that they have to sell into strength, rather than just cratering the price. I understand that their sale is as a result of a recent change of fund manager ( how often do we hear this with small caps ) , seems that the new man does not like Renold, or perhaps he has not even bothered to aquaint himself with the story, whatever, for me Robert Purcell's recent purchases speak louder than the actions of any City fund manager ! But what a shame that the City cannot value this properly, it is leaving us wide open to a low ball offer, which whilst it might be a welcome boost in the short term would certainly not be doing us any favours if we can think in terms of the world ecónomy past Covid.

[jailbird] 23/11/2020 16:32

Mes,Right about M&G reducing further .Good news their holding has found a buyer . Will hear about that holding RNS at some point Plus the price is much higher , very positive

[bbarry8] 23/11/2020 12:29

Ticking higher....

[jailbird] 20/11/2020 13:39

Mesquida,

I agree..good time to drip buy while stock is available at around this price

[mesquida] 20/11/2020 13:23

Yes,i am watching the price, but i am more convinced than ever that M&G are continuing to feed the market. Expect another RNS from them early next week because for sure they will have passed through another percentage level if, as i suspect, they have let another 2 million go yesterday/today. Of course the stock is cheap, no question about that, but if M&G want out it is difficult to see the price making meaningful progress short term, but once they are out then we should see a fairly swift re-rating.

[jailbird] 20/11/2020 10:36

Mesquida,

You watching the price?

[jailbird] 19/11/2020 21:57

Looks at trades , I see one sell all day ... buyer is mopping up the sold stock Just keep an eye on the price ... looks like buyer and seller are matched trades

[mesquida] 19/11/2020 20:22

But how do you know that they are not going all the way down to Nil. Personally i would not be at all surprised if it transpires that they have sold more stock today.