Share Name Share Symbol Market Type Share ISIN Share Description
Sigma Capital Group Plc LSE:SGM London Ordinary Share GB0004225073 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  2.50 2.17% 117.50 56,339 11:52:24
Bid Price Offer Price High Price Low Price Open Price
115.00 120.00 117.50 115.00 115.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 13.87 13.00 11.63 10.1 105
Last Trade Time Trade Type Trade Size Trade Price Currency
17:07:50 O 15,000 117.50 GBX

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Sigma Capital Daily Update: Sigma Capital Group Plc is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker SGM. The last closing price for Sigma Capital was 115p.
Sigma Capital Group Plc has a 4 week average price of 93p and a 12 week average price of 88p.
The 1 year high share price is 117.50p while the 1 year low share price is currently 67p.
There are currently 89,552,956 shares in issue and the average daily traded volume is 195,612 shares. The market capitalisation of Sigma Capital Group Plc is £105,224,723.30.
red ninja: Share price creeping up, but no trades that I can see. I guess the MMs are more positive about housing.
robertop5: Forget about a Labour government. Sigma seem to be undermining their major revenue source,the PRS REIT, all by themselves. PRS REIT share price down to 83p. Invesco, one of the major investors in the PRS REIT, recently sold a significant amount at 84p - a clear indicator they are not happy and that a further equity raise is therefore now unlikely to happen. As Sigma derives the majority of its fee income from the PRS REIT, this has significant implications on the longer term profitability of the business. The poor performance of the PRS REIT is also casting a shadow on Sigma's overall reputation given it both launched and is investment adviser to the PRS REIT. One can now conclude the immediate departure of Sigma's COO earlier this year must have been related to this and that there is more to the PRS REIT's declining performance than "Brexit related planning delays". Time for Sigma's chief exec to start justifying his exorbitant salary - one of the reasons I recently exited my position in Sigma. (Short Sigma)
bonzi1: Dubious. If the COO was retiring why not simply say so in the announcement and give a sensible and transitional notice period which he surely was contracted to. Instead investors have been left to second guess particularly given the COO left "with immediate effect". Throw in the PRS REIT share price currently down to 86p with multiple sells in blocks of 100,000 - 250,000 over the last few weeks, with the trend continuing post the Sigma trading update which focused heavily on the PRS REIT. That is clearly institutional money which is concerning given most will have participated in the launch and second equity raise at £1.00 & £1.025 respectively so worrying that some chunky current paper losses are being crystallised, with funds reinvested elsewhere. Given Sigma currently derives the majority of its revenue from the PRS REIT, the current performance of the PRS REIT must surely be a concern to BOTH prs reit AND Sigma shareholders. Equally as investment advisor to the PRS REIT, the performance of the PRS REIT will undoubtedly impact Sigma's ability to generate other business in a similar role and hence increase assets under management. There is always the risk were the REIT's performance to deteriorate further, that Sigma's role as IA may be retendered after the initial 5 years. Half of Sigma's development management fees derived from the PRS REIT are tied up in PRS REIT stock which is falling. Perhaps I am being too pessimistic and the PRS REIT's performance will improve and/or Sigma will broaden its revenue generation through new opportunities over and above the PRS REIT but one can only value what is observable not what may or may not transpire in the future and on that basis I would agree with other investors below that Sigma remains overvalued
jbrown1952: Chief operating officer leaves Sigma Capital with immediate effect. No explanation given. A significant figure within the company with total remuneration of £886K (including realised carried interests) in 2018 according to the latest annual report, second only to the chief exec who received £1,098,000. Both figures excessive given the size and profitability of the company. To give context as to the importance of the COO, the next highest paid director received £315K in 2018. The immediacy of the departure and absence of any explanation is cause for concern. No sign of a further equity raise within the PRS REIT to which Sigma is investment adviser. Chief exec's statement to Property Week in Oct 2018 of a further £250m due to be raised in Jan 2019 now looks at best misguided. The last fundraise of £250m in Feb 2018 at £1.025 makes it now challenging to raise again given the current PRS REIT share price of 88p. Without a further raise and the associated fee generation for Sigma, notwithstanding the ongoing downward pressure on the share price, the company remains overvalued. No progress announced as yet with the £30m Scottish debt facility signed in April this year. A curious time to enter the Scottish market with rent caps having been introduced by the SNP. When combined with the £45m HCA debt facility, £75m of available debt raises concerns over the potential to leverage the business at what many view as the latter stages of the current cycle. The unexplained nature of the COO's immediate departure when considered with the above leave one feeling unnerved. Awaiting further trading updates from Sigma and the PRS REIT with interest.
chinwagger: Smithers those are some interesting points. I think the recent slide in share price might be more to do with profit downgrades against forecast. I’ve been keeping an eye on this company for just over a year now and was all set to take a small position as they are operating in what appears to be an attractive sector with a lot of political support behind it, most notably Homes England. As far as I can see up to June last year the market forecast Sigma had put out for 2018 remained at revenue of £16.7m and adjusted pre-tax profit of £14.1m courtesy of busterdogs earlier post ( I can’t find anything beyond this. On 8th Jan this year Sigma then issued a trading update stating pre-tax profit for 2018 would be “slightly ahead of current market forecasts. Profit before tax is expected to be approximately £12.4m (a year-on-year increase of 205%) on revenue of approximately £12.5m.” I am at a loss as to how actual pre-tax profit and revenues are below forecast and yet the trading statement is stating AHEAD of market forecasts. Perhaps someone could share any updated forecasts that were issued in between to shed some light as I must have missed something here? The obvious other concern is revenue was down 25% from the original 2018 forecast but profit down only 12% and I would hope to see some clarification given in the full year results when they are published at the end of April. The company appears to have done fantastically well over the last few years culminating in the launch of the REIT. Pre-tax profit of £12.4m is impressive given Sigma’s historic profits were some way below this but from previous experience I am always cautious where companies under-perform their own forecasts, particularly where there is an as yet unexplained divergence between profits and revenue. I won’t be investing until I get some clarity around the concerns noted and agree with Smithers some certainty around whether the PRS REIT will raise again is also essential
smithers1: A lot of pressure on Sigma share price. Some big sells today and over the last few weeks. Currently down from a high of £1.49 to today’s price and falling. Stock Exchange stating bid offer of £1.14 - £1.20 but on checking with broker to buy I am being quoted £1.16 not £1.20 so suspect there is still a big seller out there and this slide may have further to run. Into March with no announcement re a further equity raise in the PRS REIT which could be the driver – Property Week article from Oct 18 with Sigma Chief Exec had suggested a further £250m raise in Dec 18 which has yet to materialise.... Potential concerns around the speed of equity deployment within the REIT (notwithstanding the positive Jan announcement of £900m committed) and consequential impacts of slower than envisaged deployment of equity on ability of the REIT to hit targeted returns. Hard to read too much into it at this stage but wondering if this may have bearing on when and if PRS REIT raises anymore equity? Without a further raise and the associated fees that would generate for Sigma it is hard to support the current share price given significant proportion of fees generated in 2018 were one off from development management fees as REIT equity deployed as opposed to recurring revenue. That said, if the REIT raises more equity that would be extremely positive for Sigma. One to monitor over the next few months
busterdog2: The dividend you are referring to was for shareholders in the PRS Reit, not Sigma Capital shareholders.
busterdog2: Good to see a few buyers coming in. The House broker forecasts for the financial year ending December 2018 remain for revenue of £16.7m, adjusted pre-tax profit of £14.1m and adjusted Eps of 13.2p. For 2019 estimates are currently for revenue of £20.3m, adjusted pre-tax profit of £17.7m and adjusted Eps of 16.6p. Assuming a P/E of 15 that would give a share price of £1.90 and £2.40 for 2018 and 2019 respectively. Given the nature of the business and their visibility of earning the rating could well be more. All looking good imo.
hastings: Great spot that Busterdog2 pretty impressive turnaround.Perhaps it'll be prelude to a recovery in Sigma's share price!
kooba: Informally told things are very busy and everything 'scaling up' nicely and the environment for PSR new build should never have been better....Then you look at the share price which is telling a different story...not much volume but 20% off and not one uptick this year is telling a different story.Breaking below 70p support and the last two placing levels not encouraging....liked the story but can't help wondering whether the share price is telling me to move on?
Sigma Capital share price data is direct from the London Stock Exchange
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