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TIG Team Internet Group Plc

124.60
0.40 (0.32%)
08 Dec 2023 - Closed
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
  0.40 0.32% 124.60 314,050 16:35:04
Bid Price Offer Price High Price Low Price Open Price
123.40 124.00 126.00 123.00 123.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Business Consulting Svcs,nec USD 728.24M USD -2.08M USD -0.0076 -163.16 338.08M
Last Trade Time Trade Type Trade Size Trade Price Currency
18:44:24 O 1,312 124.204 GBX

Team Internet (TIG) Latest News (4)

Team Internet (TIG) Discussions and Chat

Team Internet Forums and Chat

Date Time Title Posts
28/11/202310:36Team Internet Group158
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) Top Chat Posts

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Posted at 10/12/2023 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 124.20p.
Team Internet currently has 272,645,318 shares in issue. The market capitalisation of Team Internet is £338,080,194.
Team Internet has a price to earnings ratio (PE ratio) of -163.16.
This morning TIG shares opened at 123p
Posted at 28/11/2023 10:36 by azaman
That's probably reflected in the share price.
Posted at 17/11/2023 14:00 by ggrantsu
This will be my last post as clearly really understanding the economics of this biz isn't of interest to people. Posting the utter tosh from Mark Watson or the latest Zeus report is clearly more valued than actually properly analysing the business...which by the way, I'm still positive on in many respects. Just a shame people want to have an echo chamber...if you sat down and asked Mark Watson, Zeus or I'm guessing in your case Adam, no one would be able to outline in detail just what a simple transaction looks like in TONIC (I'm sure you will do the decency of at least just admitting that...)...that's a fine way to invest, but not for me I'm afraid. The TONIC website and company reports on what goes on in that business give absolutely no detail into how it deals with other players in the value chain etc. You clearly just think that looking at a high current FCF yield is OK, as I used to pretty much be like with this company...however, I've realised that it is far to naive. Look at the likes of Future, Next 15 etc...all roaring ahead right now...with numbers that are no better than TIG. Rather than just stick my head in the clouds...I've come to the view that there is a very negative market perception with TIG and particularly TONIC. There is no other explanation, its entirely missed out on the current rally which has hit its sector particularly hard.

So after a lot of industry conversations and actually figuring out what TONIC does, I want to actually assess how sustainable that business is...which, I'm sorry Adam, is actually something of substance vs. reading an annual report or 'speaking with management' (a completely useless exercise - just listen to what Mark Watson wrote - oh yes, the CFO says its undervalued, so it must be! Come on, lets actually do some proper thinking here). I guess the TIG CFO is the first ever CFO on AIM to tell the world the shares are cheap...

I do take issue with my analysis of TONIC being labelled as just unnecessary fluff. I agree if course that analysts can be to pedantic, but you are applying that argument to something as simple as just understanding what TONIC does in an ordinary typical transaction and who it is dealing/bargaining with. The problem with the shares is that because its been impossible for anyone without a lot of time on their hands to really understand BAU, limited participants give it the time of day (or maybe that have investigated and take the view that the economics are bad - there are plausible reasons for this).

Post the domain name business being the driver here, people have just absolutely not even bothered to understand what is happening in OM. And its been fine because nothing has blown up and its doing well. I'm not saying its a terrible business, but there are characteristics and attributes to it which mean its a very poor business economics wise vs. domain names. Thats a fact and the point of the forum in many ways should be to discuss those weaknesses, and with different people contributing, one could decide whether to enlarge the position for a company that is trading very cheaply.


Anyway, anyone who actually wants to dig down into this more can always private message. Piece of advice for all though - if your buying because some share tipper and financial journo is saying the CFO told him its cheap...be a little more discerning!!
Posted at 17/11/2023 08:04 by adamb1978
74tom

I've worked in a couple large FTSE100 companies and watched analysts (professional and retail punters) post things about strenths, weaknesses etc about the business and seen how often they're wide of the mark either in terms of what the issues are, or relative magnitude of those things. This is despite those companies apparently being well understood.

Therefore when people on these boards try to get into the forensics of a small-cap business, my experience tells me that they're probably missing things. Hence why I try to invest with a degree of strategic-ignorance - there's only a certain amount of depth which you can get into before you mis-lead yourself (in both directions). Also why the lack of response to ggrantsu's long post.

If people have real issues with any company, the best thing to do is either move on to other companies, or email management (lots of small cap management teams are responsive, and CNIC/TIG is certainly very responsive) or ask on an investor call (again, CNIC/TIG do those a few times per year). Asking questions beyond surface level on forums will rarely lead to a definitive answer.

TIG is what it is. Its not an IP-rich business so will never trade on a 30x PE or anything like that. But supermarkets aren't IP-rich either - for these sort of sectors the focus is on scale, efficiencies and cash generation.

CNIC have scaled up via M&A and are now focussing on cash generation. Just need to look at the cashflow pre M&A, divis and bubacks. Whether I value this on a PE, EBITDA, FCF or DCF basis, I think this has 100% upside from here.

Adam
Posted at 16/11/2023 08:38 by rivaldo
Mark Watson-Williams on Master Investor is still very keen per his post last night:

"The Q3 report from Team Internet Group (LON:TIG) obviously disappointed some investors, with the shares easing back to 116p from 127p last Thursday.

I spoke at some length with Billy Green, the group’s CFO, on Monday morning and remained totally assured that the group’s shares are still undervalued.

It has been quite a transformation for the group this year as it moves convincingly away from the strong M&A programme of the last few years, to now reflect its concentration upon utilising the various strengths of those previous acquisitions to build up the massive cross-selling opportunities, especially that this globally operating group now has within its organisation.

The ‘share buyback’ programme still has another £13m to go, which I compute should take it into mid-February 2024 to complete.

The average buyback price this year has been 124p, the shares closed at 118p last night.

I still see them going a great deal higher yet."
Posted at 13/11/2023 11:18 by hsduk101
1.1 ratio of debt to cash even is fine.

For me I'd rather they stop with the share buy backs and pay of a large chunk of their debt. That will improve the share price
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!!
Posted at 10/10/2023 09:59 by adamb1978
Cyberbub - I'm not sure thats right. If an acuqiror makes an offer, then they'd acquire your and my shares. In doing do, they own all the outstanding shares. If the company owns shares in treasury, then you or I dont get any more cash. We get the benefit pre-offer - the market cap of the company is divided by fewer shares, so the share price is higher.
Posted at 07/10/2023 19:15 by cyberbub
Just been looking at another company GATC, different sector but they are running a daily share buyback of roughly the same %age of the company as TIG. Their share price chart over the last few weeks looks almost identical to TIG, two peaks and then a plummet the last few days. Seems to support the idea that there is some general selling overwhelming both buybacks, due to weak markets, and there's not something specific at TIG?
Posted at 07/10/2023 05:43 by tole
https://masterinvestor.co.uk/equities/small-cap-catch-up-ramsdens-gateley-and-team-internet/CentralNic / Team Internet Group (LON:TiG) – Slater Adding To HoldingDespite the shares of my favourite global internet services group literally 'flip-flopping' all over the place, I remain a keen follower.So, I was pleased to note that Mark Slater's Slater Investments has purchased an additional 10% for his holding in the group – now up to 11.07%, representing some 30.23m shares.His amassing of the stock was in parallel with the group's own Share Buyback programme continuing apace, now with over 16.5m shares in Treasury.We should be getting a Q3 Trading Update up to end September from the £350.7m capitalised group within the next few weeks.The shares, which have recently been up to 137p in the last couple of weeks, fell back to 120p on Wednesday of this week before closing last night a little better at just 122.4p.Analysts Bob Liao and Carl Smith at Zeus Capital believe Team Internet's mix of strong growth, high revenue visibility, operating leverage and high cash conversion are undervalued by its shares' low multiples.They are estimating the current year's revenues to end December of $825.3m ($728.2m), while adjusted pre-tax profits could lift up to $79.2m ($70.0m), generating earnings of 21.1c (19.8c) and paying a 1.0c (nil) dividend per share.A strong Q3 Update Statement will be needed to lift the group's shares out of the current price range, while identifying the company's ongoing global growth potential.
Team Internet share price data is direct from the London Stock Exchange

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