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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Saga Plc | LSE:SAGA | London | Ordinary Share | GB00BMX64W89 | ORD 15P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-4.00 | -3.67% | 105.00 | 105.40 | 106.40 | 113.60 | 100.40 | 106.00 | 1,904,714 | 16:35:14 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc Retail Stores, Nec | 581.1M | -259.2M | -1.8401 | -0.58 | 149.87M |
Date | Subject | Author | Discuss |
---|---|---|---|
13/6/2019 15:33 | Looks a good time to buy a few for a run up into next weeks AGM. Will soon be back in the mid 40's as the share price is very very oversold. | american idiot | |
13/6/2019 14:27 | One thing that continues to concern me is the apparent failure to properly update the market at the 16th Jan. trading update "in line with our [the management's] expectations"... ..."On 4 April 2019, Saga will announce its preliminary results for the year ended 31 January 2019 and an update on strategy." | glavey | |
13/6/2019 14:24 | Blame deflection ahead of the AGM: The chairman of Saga has criticised the way the over-50s insurer and cruises group was floated five years ago, accusing its private equity owners and bankers of “over-egging Patrick O’Sullivan explicitly attacked Charterhouse, CVC and Permira, as well as their bank advisers led by Citigroup, yesterday as he announced the departure of Lance Batchelor, his chief executive, by mutual agreement. The £2.1 billion Saga flotation in 2014 has soured into one of the biggest disasters of popular capitalism of recent years, with 200,000 private investors, most of them Saga customers, losing three quarters of their money as the share price plunged. Unlike institutional investors, who shunned the share issue, small investors flocked to buy into the company, attracted by its familiar name and its claim that the brand could be extended into areas such as domiciliary care and wealth management. “There’s no question they [the private equity firms and banks] oversold it at the time of the IPO,” Mr O’Sullivan told The Times. “They over-egged the potential of the business. “There was virtually no investment in the brand,” he said, and “no certainty” that the group was capable of selling lots of other products to its over-50s demographic, as it proposed to do. The three private equity groups sold new shares in Saga at 185p in the float in May 2014 and then baled out in three massive block trades priced at between 195p and 200p in 2015 and 2016. The shares have since dived, falling another 1¾p, or 4.7 per cent, yesterday to close at just over 38p. The same three private equity groups floated the AA roadside rescue group a few months later, with similar disastrous consequences: its shares are now at 52¾p, a decrease of almost 80 per cent from the 250p issue price. CVC also was behind the flotation of Debenhams, which failed in April this year, wiping out shareholders. It is now in the throes of a rescue. A source close to one of the private equity groups dismissed the criticism. “It’s very convenient for the chairman to be blaming the owners of more than five years ago for difficulties that only surfaced more recently.” He pointed out that in its first years, Saga shares had risen above the issue price. Mr O’Sullivan, who took over as chairman last May and has brought in fresh blood to the boardroom, said that the decision for Mr Batchelor to go was mutual: “[We decided] a managed separation was the right way to go.” | edmondj | |
13/6/2019 14:05 | Interesting comments below this article | spob | |
13/6/2019 13:52 | anyone have the rest of that times article ? | spob | |
13/6/2019 13:51 | Crikey...does that mean all the bad news is out or is there more to come? Also it sounds like there is a cap on how much growth can be expected. Very strong Language indeed | hernando2 | |
13/6/2019 13:46 | June 13 2019, 12:01am, The Times Saga chairman Patrick O’Sullivan attacks former private equity owners The chairman of Saga has criticised the way the over-50s insurer and cruises group was floated five years ago, accusing its private equity owners and bankers of “over-egging&r Patrick O’Sullivan explicitly attacked Charterhouse, CVC and Permira, as well as their bank advisers led by Citigroup, yesterday as he announced the departure of Lance Batchelor, his chief executive, by mutual agreement. .../contin. Article goes on to imply that it's private equity and bankers who are responsible for small/private investors losses... Chairman looking for a scapegoat? | glavey | |
13/6/2019 13:27 | Technical charts have been pointing at 39p-40p as a bottom - surprised it hit 37p. Shorts apparently <0.5% if you believe the FCA. Volume less today - tracker funds may have finished adjusting their portfolios. If there is a buyer for every seller then some funds will start buying these now. | justiceforthemany | |
13/6/2019 09:55 | Same old scare mongering names on here day after day lol | sunnybeachboy | |
13/6/2019 08:20 | Cheap on earnings and dividend yield but balance sheet is shot. Net tangible liabilities of £135m with net debt of £391m. Does market fear a fund raising? | stemis | |
13/6/2019 07:32 | There's broadly been a downtrend the last few years though, e.g. Standard Life tried to buck by snapping up 14%+ at the end of last year, though has burnt its (clients) fingers severely - with the strategic re-set - and recently trimmed 0.5%. What doesn't exactly gel is the CEO appearing to be forced out behind the scenes by the likes of Standard Life but supported to the hilt by the chairman and rest of board. Thus a question of what a rigorous independent view would make of the works. | edmondj | |
13/6/2019 00:28 | FTSE tracker funds selling after demotion. | justiceforthemany | |
12/6/2019 22:54 | There is something very odd here. The downward pressure is immense and relentless. | pander45 | |
12/6/2019 22:19 | P/E 4.4 and yield 10.5% twice covered still not low enough for short sellers. Madness. | justiceforthemany | |
12/6/2019 20:21 | Does anybody know if Saga has any exposure to Insurance market abroad or all UK domestic market?... | diku | |
12/6/2019 18:08 | cascudi, with some good luck we may know. | optomistic | |
12/6/2019 17:55 | He said in the last shareholders meeting that is interested in UK stock market because there are good opportunity thanks to brexit. He loves insurance. So you will never know | cascudi | |
12/6/2019 16:53 | With a market cap of £420m it seems a little small for activists to get involved but you never know . Still think that it is good news that we will have a new leader about time he was removed and put out to pasture . | wskill | |
12/6/2019 16:42 | He only has 20% of GS so I think GS will make the decision if to buy Saga or not...will be interesting to watch though. Goldman Sachs Group Inc. Berkshire purchased 2,294,971 shares of the company, increasing the position by 20.94%. The holding represented 1.49% of the portfolio, and the quarter’s price averaged $239. | optomistic | |
12/6/2019 16:32 | Goldman Sachs means Warren Buffett. So this is a deal to watch | cascudi |
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