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TIG Team Internet Group Plc

82.60
-2.00 (-2.36%)
Last Updated: 10:45:45
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Team Internet Group Plc LSE:TIG London Ordinary Share GB00BCCW4X83 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.00 -2.36% 82.60 160,534 10:45:45
Bid Price Offer Price High Price Low Price Open Price
82.60 83.30 84.00 82.10 82.10
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Business Consulting Svcs,nec USD 836.9M USD 24.3M USD 0.0894 9.24 229.89M
Last Trade Time Trade Type Trade Size Trade Price Currency
10:44:49 O 1 82.728 GBX

Team Internet (TIG) Latest News (2)

Team Internet (TIG) Discussions and Chat

Team Internet Forums and Chat

Date Time Title Posts
18/11/202419:05Team Internet Group604
05/12/201509:27The all new Innnovation Group Thread (with charts and dancing girls)1,674
08/5/201313:55Innovation Group - 1p soon??30
01/5/201312:45RED HOT BUY - (TIG) - INNOVATION GROUP5,189
08/5/200521:57DOWN 70% Is this worth buying?40

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Team Internet (TIG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
10:44:5182.7310.83O
10:44:2183.323428.33O
10:42:5982.7310.83O
10:42:0282.7310.83O
10:41:3783.4032.50O

Team Internet (TIG) Top Chat Posts

Top Posts
Posted at 21/11/2024 08:20 by Team Internet Daily Update
Team Internet Group Plc is listed in the Business Consulting Svcs,nec sector of the London Stock Exchange with ticker TIG. The last closing price for Team Internet was 84.60p.
Team Internet currently has 271,741,749 shares in issue. The market capitalisation of Team Internet is £225,273,910.
Team Internet has a price to earnings ratio (PE ratio) of 9.27.
This morning TIG shares opened at 82.10p
Posted at 13/11/2024 11:46 by rivaldo
New note out from Edison:



They forecast 22.9c EPS this year, rising to 23.3c EPS next year - a P/E of 4.8...

That's with 2.3p and 2.5p dividends.

They conclude (when the share price was 102p):

"Valuation: Ample opportunities for value creation

The shares look overly discounted at an FY25e P/E of 5.6x (a c 50% discount to
adtech peers) and an FCF yield of 20%. We believe this discount should start to
close if trading remains stable, as expected, and investors gain more visibility on
the impact of key strategic initiatives. Management initiatives to deliver value
through capital returns or asset sales could deliver substantial upside."
Posted at 11/11/2024 09:01 by adamb1978
Afraid to say that this was evident at the interims. Their full year guidance always looked a stretch, particularly with the weak performance of Shinez in 2024 at that point.

Will go through later today or this week but hard to see the share price recovering rapidly given it was never a hugely loved stock so if you through in missing expectations, it'll take longer to recover.

I like the CEO though and think he has the right focus on value creation, plus the large shareholder is only ever going to be able to sell via the company being sold, so there are reasons to own but the risk premium/profile has gone up a little more with today's announcement
Posted at 23/10/2024 12:43 by rivaldo
From Master Investor last night.....

"Team Internet Group (LON:TIG) – Just what will the Q3 results show?

On Monday 11th November Michael Riedl and Billy Green will reveal the Third Quarter trading results for this global internet company.

To date I have always liked the fact that it generates recurring revenues from creating meaningful and successful connections: businesses to domains, brands to consumers, publishers to advertisers – but of late its shares have been totally boring and only going downhill.

The only real buyers of the group’s shares have been Director Max Royde on behalf of his Kestrel Partners clients, as well as the company itself.

Royde is a partner of, and holds a beneficial interest in, Kestrel, and is also a shareholder in Kestrel Opportunities and is therefore deemed to have a beneficial interest in Kestrel Opportunities' entire legal holding in the company.

Kestrel Opportunities holds (and consequently he is deemed to have a beneficial interest in) 17,926,535 Shares in the company, and other clients of Kestrel, in which Mr Royde has no beneficial interest hold 49,058,779 shares in the company.

Kestrel indirectly controls 66,985,314 (25.96%) shares.

The group itself is still in a large share buyback programme and at the last count had some 15,762,033 shares held in treasury, out of the total issue of 273,500,000.

The Q3 figures could well show that the group is still moving ahead.

Analysts Bob Liao and Carl Smith at Zeus Capital currently have estimates out for the group to increase its turnover in the year to end-December to $943.0m ($836.9m) with adjusted pre-tax profits of $92.8m ($77.2m), with earnings of 27.4c (22.4c) and paying a 2.2p (2.0p) dividend per share.

For the coming 2025 year they estimate $1,032.4m revenues, $102.6m profits, 30.3c earnings and a dividend of 2.4p per share.

The bigger returns can be hoped for in 2026, with the analysts going for $1,095.5m revenues, a much better margin $120.1m profit, with 35.4c per share earnings but still paying a measly 2.6p dividend.

On the basis of those estimates, medium-term value investors should be piling into Team Internet shares and just forget about them until they double in price.

At the beginning of August this year the group’s shares hit 207.50p, since when they have performed like an absolute dog, falling away quite steeply, with, as I stated earlier, just the company and Kestrel buying the stock.

They closed last night at only 126p, so I am now asking – isn’t this the time to be buying in again?"
Posted at 07/8/2024 13:24 by rivaldo
The latest from Mark Watson-Williams at Master Investor (from Monday):

"Team Internet (LON:TIG) – Interims Due Next Week Could Further Identify Under Rating Of Shares

Next Monday, 12th August, this £500m capitalised global internet services group will declare its half-time results for the six months to end-June.

They should be good enough to keep the shares trotting higher in price.

They have been up above the 200p level in the last few trading days, having touched 207.50p at one stage last Thursday, before drifting back to 200p.

Despite the slower advertising market depressing its Online Marketing returns, market analysts are still expecting that the year to end-December will show a significant increase in full-year revenues to $960m ($837m), with adjusted EBITDA of $107.60m, taking earnings up to about 28c per share, plus paying a 2.2p dividend.

For the coming year, some $1,050m revenue could see about $116.20m of EBITDA, worth 30c a share in earnings and easily covering a 2.5p dividend.

In 2026, some estimates already suggest close to $1.1bn of revenues, with EBITDA of $130.5m, earnings of 36.5c and a dividend of 2.6p per share.

For such a long time I have been boring readers with my description of this business as being a ‘money machine’ – well looking at those analyst views continues to confirm my theory.

On 22nd May, when the shares were around 180p, I noted that

“With the current momentum I would suggest that 200p really is not that far away now.”

That occurred within days.

The recent share price strength has been set against a much heavier dealing turnover, with volumes over 1.1m shares for two days running, late last week.

The increased activity could well be in advance of the group’s forthcoming Results and Trading Statement.

I continue to like this stock and suggest that, unless there is bad news, the shares are not for selling, instead they are for buying on any price dips."
Posted at 14/5/2024 08:56 by rivaldo
It's worth reflecting on Zeus's increased forecasts and where they might take the share price (translated at $1.25 exchange rate):

Dec'26 : 29.6p EPS
Dec'25 : 25.2p EPS
Dec'24 : 22.8p EPS
Dec'23 : 18.6p EPS (actual)

And that's without any further acquisitions or share buybacks.

Edison state that TIG's global ad-tech peers trade on average P/E's of 12. And TIG's Online Presence peers trade on P/E's of 25.

If you value TIG on a relatively conservative P/E of 15 based on those numbers, and apply them to the 29.6p EPS you get to a 444p price target which could be achieved in say winter '25/spring '26 with the market looking forward as usual.

So almost 200% potential upside in around the next 18 months to two years.

Assuming TIG continue to perform smoothly, merely meeting those forecasts without surprises as they've been doing, then there should be a strong re-rating from the miserly current year P/E of 6.9 at 156.6p.
Posted at 21/3/2024 13:31 by rivaldo
TIG restarted the buybacks last year when the share price was around 111p. This hasn't stopped the share price advancing to the current 138p.

If there's an institutional buyer or two out there, and/or any material sellers run out of stock - as is hopefully now happening - then the share price will continue to climb, with or without buybacks. And of course news flow will further determine the course of the share price.
Posted at 29/1/2024 10:17 by adamb1978
Redwing

So much to disagree with there:

"One thing I don't like is use of the cashflow to buy back shares....The market had already expressed its dislike of their high levels of debt"

How do you know what 'the market' disliked? Did the market tell you?


"Instead they go down the route of trying to prop up the share price with a huge share buyback (and look how well that worked!)"

How do you know where the share price would have been without the buyback? What we do know is that without the buy back there wouldnt have been one very large buyer in the market for the last year, so the balance of sellers/buyers different and would have meant a lower share price


"The fact that they didn't makes me suspicious."

Can you comment on what you think they are buying shares back with if they're not generating cash?


Adam
Posted at 18/1/2024 18:05 by tole
https://masterinvestor.co.uk/equities/is-the-price-decline-about-to-stop/Is The Price Decline About To Stop?By Mark Watson-Mitchell 18 January 2024 7 mins. to readIs The Price Decline About To Stop?Considering its massive store of recurring revenues, its global services on offer and its incredible potential, Team Internet Group (LON:TIG) has been a dismal performer over the last year. This time last year the group's shares were trading at around 155p, since when they have been down to as low as 112p. Today they are fractionally better at 124.60p – but could they be offering an excellent upside, especially if you follow the dealings of 'insiders' in the group's equity. The Business The group creates meaningful and successful connections from businesses to domains, brands to consumers, publishers to advertisers, enabling everyone to realise their digital ambitions. It is a leading global internet solutions company that operates in two highly attractive markets: high-growth digital advertising (Online Marketing segment) and domain name management solutions (Online Presence segment). The company's Online Marketing segment creates privacy-safe and AI-generated online consumer journeys that convert general interest online media users into confident high conviction consumers through advertorial and review websites. The Online Presence segment is a critical constituent of the global online presence and productivity tool ecosystem, where the company serves as the primary distribution channel for a wide range of digital products. The company's high-quality earnings come from subscription recurring revenues in the Online Presence segment and revenue share on rolling utility-style contracts in the Online Marketing segment. Sales By Business And Region In the group's 2022 trading year it turned over $728.2m. The Online Marketing side was some 78.9% of the total, while Online Presence represented 21.1%. Europe accounted for 83.5% of the total, North America 9.0%, Rest of the World was 6.5%, while the UK was just 1.0%. Share Buybacks Not Helpful On 30th December 2022 it commenced its first £4m Share Buyback programme, for a maximum 28,866,000 shares, or 10% of the equity. That spend was completed on 18th January last year. On 15th May it announced another £4m programme: "The Board considers the Buyback Programme to be in the best interests of all shareholders, given the cash generative nature of the business and the performance at least in line with current market expectations. It reflects the Group's renewed capital allocation policy geared towards greater returns to shareholders." On 3rd July the group announced a material £30m increase to that second programme, since when the company has been spending around £100,000 a day on buying its stock back, for either being cancelled or being held in 'Treasury' to be used for any future acquisition. It is now close to completing that increased 'Share Buyback Programme' – which has actually enriched no-one other than the brokers handling the business each day. As of yesterday morning, it is noted that the group had repurchased a total of 23,279,377 of its shares. Compared to a previous average dealing volume of around 400,000 shares being transacted daily, there now seems to be a sudden build-up of interest in the company. In the first twelve trading days of this month some 9,983,149 shares changed hands. Perhaps we should now be paying the group some attention. Trading Update Due Before The End Of The Month This international internet solutions company, which rebranded itself from CentralNic last September, is due to be announcing on Monday 29th January a 'comprehensive' Trading Update covering its 2023 financial year. Already TIG is clearly stating that the Update will feature its record performance in the final quarter of last year and for the full year too. Brokers' View Analysts Bob Liao and Carl Smith at Zeus Capital consider that the group is capable of 'outperformance' following a good final quarter. Their estimates are for revenues for the year to end December 2023 to have grown from $728.2m to $825.3m, lifting adjusted pre-tax profits to $79.2m ($70.0m) and earnings up to 21.3c (20.0c) per share. For the year now underway they look for $868.9m turnover, $84.7m profits and 25.1c in earnings per share. In an early October Tech Sector Review, analyst Michael Hill at Cavendish Capital had a 350p Price Objective on the shares, looking for the group's strong growth to be powered by its Online Marketing business. His estimates for 2023 were for $815.3m revenues, $79.8m profits and 22.4c per share in earnings. For this year he goes for $888.8m revenues, $91.1m profits and 24.4c per share in earnings. Over at Edison Investment Research, analyst Max Hayes has put out estimates that the group in 2023 will have turned over $833.7m, with profits of $80.7m, and earnings of 21.1c per share. For the current year his figures indicate $909.6m sale, $89.3m profits and earnings of 24.7c per share. Edison considers that the rating of the group's shares does not fully reflect the impact of the share buybacks and its growth prospects. Max Risk PlaysFormer army officer and stockbroker, Max Royde has been back into the market again this year, picking up TIG stock. 51-year-old Royde, who established Kestrel Investment Partners with Oliver Scott way back in 2009, was previously a Managing Director at brokers Peel Hunt, where he focussed upon the Technology sector. Kestrel is a very interesting business in itself.Together with their colleagues, Scott and Royde source the best investment ideas and structure the most suitable vehicles for new investments, whilst also driving the strategic improvement at investee companies, both as a minority investor and board member. Kestrel aims to achieve long-term capital appreciation by investing in a concentrated portfolio of quoted small and micro-cap companies. Each of its core investment holdings meet strict investment criteria. The strategy is to identify, access and invest in companies that are undervalued and offer significant growth potential. It then works closely with management teams to unlock latent value and deliver long-term capital growth and liquidity. Royde, who was a director of Gresham Technologies and Aferian, holds a number of board positions, including IQGeo Group which on Monday of this week guided results ahead of expectations, with its shares soaring in response. Back Into The Market, Follow The 'Insiders' After a near two-month break in its dealing activity, on behalf of discretionary client accounts, Kestrel Partners has this month acquired more shares. Kestrel Opportunities, in which Royde has a beneficial interest, now holds 17,926,535 shares in TIG. Together with the 48,876,324 shares that Kestrel clients hold in the internet company, that adds up to a significant stake of 66,802,859 shares, representing 25.12% of its equity. Oh, and by the way, since 2021 Max Royde has also been a non-executive director of Team Internet Group, so we should perhaps pay attention to his market movements, especially ahead of the Trading Update at the end of this month. The Equity There are around 265,380,707 shares in issue, apart from those 23,279,377 shares held in Treasury. Amongst the larger holders Kestrel Partners is the biggest (25.12%), while others include Inter.services (12.01%), Slate Investments (9.54%), Erin Invest & Finance (5.20%), Chelverton Asset Management ((4.60%), Schroder Investment Management (4.28%), Maitland Asset Management (4.26%), CentralNic Employee Benefit Trust (4.23%), JTC (Private Banking) (3.81%) and Herald Investment Management (2.79%). My View – Setting A New Target Price For The Shares Yes, I have been really disappointed with this 'money machine' and its share price performance over the last year but I have not, yet, given up hope that it will recover its upward path. As for the reason of the share buyback programmes, as a way to give greater returns to group shareholders – well I have not seen any evidence of that happening over the last year, especially with the shares being down 28% at one stage and off over 19% in that time frame and still no dividend from the cash generative business. The shares closed last night at 124.60p, at which level the company is valued at £331m. Trading on a mere 6.82 times estimated historic and on just a multiple of 5.79 for current year earnings, these shares represent an excellent participant in any growth 'undervalue' portfolio. The 'comprehensive' Trading Update on Monday 29th January could well prove a significant turning point for the group's shares, which hopefully will see the market giving it a far, far better rating. In the hope that good news could be forthcoming, I am now setting a new Target Price for the shares of 156p in 2024, while having a certain confidence that a major re-rating could help to boost them to well over the 200p level before the year is out.
Posted at 13/11/2023 09:41 by ggrantsu
This was unfortunately predictable off the back of these numbers...good numbers but much slower growth vs. last year when the share price would still sell off.

As I mentioned a few weeks back...clear market perception issues about what the business does. Feel vindicated in that view given the share price performance of other cylical advertising/technology focused names I am heavily invested in e.g. Future + Next 15...these share prices have rallied and rallied hard off the back of a slight bear market bounce. However...TIG simply has not followed that, even in by an inch. Yet they have posted some very impressive numbers on the face of it today...I commend the team...OP performance was astounding...20% organic growth. Reminds me a little of Future in terms of SOTP argument, Future have GoCompare (worth at least 20x vs. group multiple of 6x)...OP for TIG is clearly worth a much higher multiple vs. OM.

All one can do is sit it out and wait for a potential bid I think here...struggle to envisage the market awarding this a much higher multiple.
Posted at 25/10/2023 06:54 by adamb1978
Crikey ggrantsu!

Your posts are usually quite balanced and unemotional...the ones in the last day or two make me think someone has nicked your advfn log-in!!!

"the market already knows the upcoming results should be fine, while the company buys back a considerable amount of stock...that tells you that there is a wider lack of interest in this company because of fundamental risks with the business."

There' a wide lack of interest in small-caps as an asset class as a whole! If you think TIG's share price has performed poorly, have a look at the rest of the market!

Your closing comment in the above part doesnt flow - you're taking an effect (weak share price) and making up a cause (risks) despite not being able to link one with the other. I repeat what I said above: the market is very weak at the moment - TIG's share price is doing well on a relative basis.

"am slightly confounded to the lack of 1) Michael buying and 2) the sudden ceasing of Max Royde buying. Bit odd but I'm not convinced its suspicious...just an observation."

Riedl owns about 2m shares plus has another 1.5m options - think he's quite nicely incentivised to get the share price up

Royde is the investment director at Kestrel as you well know. Its perfectly possible taht the rest of their fund is underwater given they invest in small-caps and tech and therefore that they can't commit more capital to TIG (they'll have rules which they need to stick to re exposure to any one company) - need to consider the bigger picture!!
Team Internet share price data is direct from the London Stock Exchange

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