Share Name Share Symbol Market Type Share ISIN Share Description
Tavistock Investments Plc LSE:TAVI London Ordinary Share GB00BLNMLS43 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 2.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
1.80 2.20 2.00 2.00 2.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 28.80 -5.74 -0.95 12
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 2.00 GBX

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Tavistock Investments Daily Update: Tavistock Investments Plc is listed in the Software & Computer Services sector of the London Stock Exchange with ticker TAVI. The last closing price for Tavistock Investments was 2p.
Tavistock Investments Plc has a 4 week average price of 1.80p and a 12 week average price of 1.40p.
The 1 year high share price is 2.70p while the 1 year low share price is currently 1.30p.
There are currently 607,795,801 shares in issue and the average daily traded volume is 2,869,421 shares. The market capitalisation of Tavistock Investments Plc is £12,155,916.02.
algorithmicx: Brian just can't stop buying at these levels! Another 250,000 @ 2.4p today
algorithmicx: Brian just paid 2.46p for 500K more.
miti 1000: Lol, QuePassa , you are such a clueless muppet . Have you seen the batm share price since I started posting on that thread ? Just keep it quiet before you embarrass yourself anymore. Over and out.
its the oxman: Hoping we are finally on the road to recovery and a share price well over 4p.
origami74: A solid buy coming in over the last couple of days should put a floor on the share price. There has been no comment on here regarding the Abacus settlement which is from the proceeds of selling the Financial Network. This seems to be a shrewd move to to clear liabilities and shows that the capital was not needed to gear up expansion. As such should impact bottom line profit. That said the market has not moved above 3p a share. Also it would have been good to see those benefiting from the Abacus payment buying shares in the company - that's a small bear point for me. In terms of recruitment of advisers at Abacus - No where does it explain how much business these new advisers have brought in or are likely to bring in.
kingston78: Value is a matter of perception whereas price is a matter of supply and demand. When a good company's share price goes nowhere because of limited demand from existing shareholders (no one has a bottomless pocket)it is time for the company to go for a charm offensive, such as a road show to a wider investor audience. A good broker would be able to market the shares to reputable institutions and push up the share price.
glasshalfull: TAVI Chrisdgb, you're certainly not alone. Courtesy to declare I've also been a buyer here. I like the sector and have a stake in LGT (Lighthouse) and only recently top sliced AFHP (AFH Financial), switching some of the funds into bombed out TAVI. A little too early I may add. I initially took a small stake late last year which I increased via the December 2016 placing, watching in concern as the share price fell from the 4p pre-placing placing announcement, straight down & through the the 3p placing price...not my finest moment. I'm a long term investor, so remained unperturbed, although its nice to see first sign of life with the share price moving off lows this week. My thanks to origami74 on this thread. Post 938 is a very good summary of the current situation. As mentioned, if one compares the valuation of similar listed companies in terms of either an a sector average EV/EBITDA multiple or EV/AUI, they look significantly undervalued in relation to peers. Allenby in 2 notes released in Dec 2016 (see links below) indicated that this could imply a valuation of 6.1p to 11.5p which compares favourable to a share price of 3.4p at the moment. HTTP:// HTTP:// I agree entirely with poster oragami74, the market does indeed require further evidence that the bolt-on acquisitive strategy is working and believe it offers decent risk/reward at the current price, especially with Chairman Oliver Cooke buying 800k in mid April, closely followed by CEO Brian Raven adding 900k shares just over a week ago. The appointment of Peter Horbye on Monday was also telling. He subscribed for 3.6m shares at 2.8p on the appointment & importantly was granted options over a further 3m at exercise price of 2.8p IF he introduces, "£500 million of assets into the Group's investment management operations before 18 April 2019." This recent director buying, Peter Horbye's appointment & £100k share subscription, aligned to the ambition of bringing a significant increase of funds into the company, prompted me to increase my holding this week. TAVI announced £690m Funds Under Management (FUM) at 30.09.2016 & I'd like to see signs of this increasing both through attracting further business & evidence of the migration of FUM from other investment managers previously utilised by Price Bailey. In conclusion, TAVI has a current market cap of £18.3m & EV of £16.7m & appears to have plenty opportunity for profitable grow. Kind regards, GHF
origami74: Harwood Wealth have managed to raise 10M but the valuation placed on them is much higher than at TAVI. TAVI discounted at a low price to buy Price Bailey; an aquisition they had been negotiating with for two years. With the current buy price at 2.75p this stock looks pretty bombed out. It appears that the market requires further evidence that the acquistions and strategy is actually working. This evidence will drive the share price up. Until then the company is not in a position to raise money due to the supressed share price. Bull Points The company looks ridiculasly cheap based on turnover and projected EBITDA of the whole business. We need to consider bear points to understand why this is the case. Looking at multiples of other similar businesses fair value is about 10p - This is covered in the analyst notes on the company website. The structuring of the company is good - It allows acquired businesses to maintain thier brnad and realtionship with the thier clients. All the costly authorisations have now been accounted for. The Acumen portfolios how grown significantly in size since last year - The business has created serious in flow from somewhere. Bear Points Rather than acquistion the company is looking to recruit representatives to the Abacus Brand. I am worried this might be costly - However if the costs yield long term grow then we shouldn't be worried about the short term. The company is looking to market the Acumen Portfolios externally - I am concerned this is a bit of black hole. The funds have two years track record and are built on an active or passive investment strategy. If I was an external IFA not looking to join the group why would I not choose BlackRock or a more established brand. With a small number of key acquistions rather than a large number of small acquistions there is risk of conflict within the company. At this price I worry if there is. All the acquistions need to work if they are sizable ones. Overall Towards the end of April we should have an update from the company. The current share price indicates a similar level of losses with no prospect of dividend for 2017/18. It appears to me results have to pretty disasterous for a price fall from here however uncomfortable it feels to invest at this point. Any indication of increased profitability and integration of the business and the price could fly up. So TAVI this April/May it is time to start walking some walk and show the market that the aqcquistions add real value! Until you do acquistions could prove to expensive.
origami74: It may be worth looking at the Harwood Wealth (HW.) results and valuation placed on this company. Harwood Wealth floated on AIM having had more systems and controls in place - i.e. a more established business. Acquistions have come from the cash pile with less equity dilution so HW. are a more established business than TAVI. That said if TAVI share price was trading on the basis on turnover to match HW. the share price would need to be nearer 12p - This of course is a generous valuation but with the share price languishing at 3p represents a significant discount.
algorithmicx: Tavistock CEO credits 'effective business model' for rapid share growth hTTp:// Tavistock CEO credits 'effective business model' for rapid share growth Karen Gilchrist Tavistock Investments’ share price increased significantly this month as awareness of its "highly effective business model" continues to grow. Between 2nd and 22nd July, Tavistock's share prices rose from 3.3p to 5.58p. Speaking to thewealthnet, chief executive of the AIM listed firm, Brian Raven, explained that recent organic and acquisitional growth had enabled the firm to offer its "professional investment standards" and "competitive prices" to a wider audience of retail clients. Tavistock's business model focuses on two primary areas, Mr Raven explained: the provision of advice; and, as of October 2014 when Tavistock Wealth was launched, the provision of investment management services. The latter provides what Tavistock has termed a Centralised Investment Proposition (CIP) for the clients of advisers. “The smarts of the model are twofold: firstly, by integrating those two services we can make a proportion of the business more profitable and; secondly, both the advice business and the investment management business are rapidly scalable. The advice business is scalable because all of the advisers are self-employed. So while we do have to have a central body to ensure all our advisers are compliant, it’s not a massive challenge to go from 270 advisers, where we are, to say 500, where we’d like to be. “On the investment management side, because we don’t provide a bespoke service, we’re a discretionary manager, we have a range of model portfolios across six risk ratings – which cover 90 percent of the market in terms of attitude to risk – we can as easily run £2 billion as we can £200 million. Already this year Tavistock has been putting this mantra into practice. In the past couple of months it has confirmed the acquisition of a proportion of assets from Cornerstone Asset Holdings Limited (see thewealthnet 1/04/2015) and the total acquisition of Duchy IFA based in the West Country (see thewealthnet 6/05/2015). In January it undertook its most significant acquisition: Standard Financial Group (see thewealthnet 20/01/2015). This transaction introduced a further 236 advisers to the firm, bringing its total number of advisers to 300 advising on approximately £3 billion worth of assets. This, Mr Raven said, has been the underlying key to Tavistock’s success: “I think the price has gone up because we are talking to an ever-increasing audience, both inside the business and out, and the simple fact of talking to 236 new advisers about what we do and our model means that word spreads and people are becoming more aware of our existence.” In terms of the firm’s strategy going forward, continued growth should be managed via a combination of organic growth, where possible, and acquisitions, explained Mr Raven. “We want organic growth but the nature of an advisers business is that their primary obligation is to look after the clients they already have. So while advisers want to attract new clients, the longer they’re in the business the more clients they have and the less time they have to seek out new ones. We do want to grow by acquisition as well but we’re very fussy about the businesses we want to acquire. We’re looking for businesses that share our client-focused philosophy who want to be part of a larger enterprise. “We’re actively looking at opportunities all the time and while I can’t say we’ll have another deal done by, say, October, but I’d be very surprised if we hadn’t done two or three more transactions by the end of next year. The real prize for us in terms of our shareholders is to make the business we’ve already got as profitable as we can by encouraging investors into the portfolio solutions we have. Because the bulk of our advisers are independent they will only push the solution if it truly adds up for their clients.” Mr Raven has been involved in financial services since 2010, having previously spent the most part of his career in software and computer services. In 1991 he founded Card Clear Plc, subsequently renamed Retail Decisions plc, a business engaged in combating the fraudulent use of plastic payment cards, which he later sold off in 1998. He then, alongside Tavistock’s current chairman, Oliver Cooke, built up loyalty card business Gladstone, which he then sold in 2005 before taking some time out of the industry to undertake a captainship at his local golf club and pursue his property interests.
Tavistock Investments share price data is direct from the London Stock Exchange
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