Double bottom at the end of the downtrend too. |
Yes I agree. I've added too on the back of this morning's RNS.There have been some high volume days recently. Hopefully once these transfers of shares are complete we will be free to move up.FDEV has been moving up recently too, could also be a takeover target in this sector imo. I am a holder there too. |
I've been waiting to find an entry into Team 17 since missing the 19-21 rally. It seems like FY24 will be another year of revenue growth. This mornings RNS has sparked my attention. Its an interesting hire, the RNS highlights in particular Rashid's experience in M&A and his role in the sale of Jagex and Codemasters. The sector is out of favour but I'm in as I have a suspicion Team 17 are up for sale. |
Entered today. Hoping the high volume day a couple of days back was a seller clearing and so it's free to move up now. |
See NT has bought in recently, as a recovery play |
Some big buys here and #FDEV today |
Not a holder here but well done to those who bought in late 2023. Good to see an in-line trading update for you today. I do hold FDEV however, having initially bought in at the start of this year. Had a few top ups too. In terms of market cap:FDEV (£100M MCap with £29.5M cash May 24) is currently trading at just over X 1 sales. TM17 (£437M MCap with £42.7m cash Dec 23) are trading at just under 3 X sales.Just thought I'd mention they might be worth a look if you like this space. DYOR if you take a look. |
*RBC STARTS TEAM17 WITH 'OUTPERFORM' - PRICE TARGET 360 PENCE |
Switched to RNK |
 BlackRock Smaller sells costly Team17
BlackRock fund manager Roland Arnold has reduced his position in Team17 (TM17) after the video game developer lost control of its cost base.
Arnold still holds the stock in his £684m BlackRock Smaller Companies (BRSC) investment trust but trimmed the position in Team17, which gave a profit warning last November.
‘The gaming industry had a tough year in 2023, with the demand for “triple A” games [high-budget and high-profile games] disappointing generally, and a number of revenue-related disappointments across the industry,’ Arnold said.
‘We spent a lot of time looking at Team17, analysing the bestseller lists to gain comfort that volumes would not disappoint.’
However, he noted that ‘sadly, volumes were not the issue, and revenue forecasts were achieved’ and in fact, the management had ‘lost control of the cost base leading to a warning on profitability’.
‘We have reduced the position but have maintained a small holding in the belief a cost problem can be fixed more easily when there isn’t a revenue issue,’ Arnold said.
Shares in Team17 have fallen 3.3% this week to 262p but are up 42% year-to-date. |
Deutsche Bank starts Team17 with 'buy' - price target 325 pence |
> That was great due dilligence.
Probably was the usual DD for a videogame company -> Are the CEOs mates? If so sign it through. Theres been some shocking overpriced acq in the space over the last 4 years. Only have to look at the mess at Embracer. FDEV did a bonkers one too.
Anyway, looks like Debbie timed her exit well. Difficult times ahead for the sector. |
W/o £20m goodwill on The Label acquisition.
That was great due dilligence.
A mess.
red |
"Solid performance" = we made an actual loss huh. |
Still watching here for an entry. In the meantime, looks like it may be FDEV's time to make a big move. Perhaps 2024 is the year for gaming stocks. |
Hopefully FDEV's turn to make a move like TM17 now. Moving up today. |
Looks to have topped out for now. Watching. |
Jefferies raises Team17 price target to 230 (180) pence - 'hold' |
Should have waited! |
sold yesterday |
Estimating The Fair Value Of Team17 Group plc
January 29, 2024 at 5:50 AM GMT
Using the 2 Stage Free Cash Flow to Equity, Team17 Group fair value estimate is UK£2.34
With UK£2.50 share price, Team17 Group appears to be trading close to its estimated fair value
Our fair value estimate is 36% lower than Team17 Group's analyst price target of UK£3.66 |
Very nice recovery here for holders. Hoping FDEV sees a similar move over the coming weeks. |
Barclays cuts Team17 price target to 265 (275) pence - 'overweight' |
Woooosh…inline is fine! |
There's the 250, back to 300s in a jiffy :-) GLA |
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