Vertu Motors Share Discussion Threads

[c_k] 29/9/2023 09:41

I think that with the weakness of the GBP overseas companies are seeing huge value in the UK sector. I

[dennisbergkamp] 29/9/2023 09:29

Sales slid last month so maybe that’ll lead to a drop in interest for a while

D

[m_kerr] 28/9/2023 22:26

where has all this interest in car dealers come from? felt a lonely place a year ago - huge property assets totally under the radar that no-one was interested in - dipped as low as 40p IIRC.

now they'll be the only dealer left on the LSE and surely only a matter of time before they're taken over themselves. if only they'd done a share buyback a year ago like i said, they would have banked a 60-75% capital gain - for those that don't like share buybacks, that's the power of buying back shares when they're cheap . looking at the shares since then, one can't really complain.

but if they hadn't bought out that dealer at a large premium to net tangible value, the share price would be higher still. that's what the margin of safety's for i suppose.

[wad collector] 27/9/2023 13:05

I see that these touched a pound 17 yrs ago, before my time, but pleased to see now at a 15 yr high.

[riverman77] 27/9/2023 08:38

Yes PDG have a software side, although I don't think LOOK do and they've received some bids. VTU have more sizeable land/property holdings than the others, which may or may not be a factor for a potential acquirer.

[daneswooddynamo] 27/9/2023 08:35

So we now have Lithia, autonation and Penske ( with hedin ) vying for pdg. Not to forget Constellation who sit with 3 percent in vtu and assuming their aspirations are not entirely satisfied with Marshalls ( having let lookers go )

[cb7] 27/9/2023 07:47

PDG is debt free and has a higher value software division, which others want to get their hands on.

[riverman77] 26/9/2023 20:03

Don't know the sector well, but is there anything significantly different about VTU that would mean Lithia wouldn't simply bid for them instead? If not then it's surely only a matter of time.
From what I can see VTU, PDG and LOOK all look broadly the same, but I may be missing something.

[daneswooddynamo] 26/9/2023 19:30

Of course, only a matter of time

[c_k] 26/9/2023 19:07

Third bid for Pendragon announced after the stock market closed tonight. Would one of the losers - Lithia, or Penske/Hedin or Autonation look at an offer for Vertu as the last listed dealer? There must be a possibility - UK car dealers appear to be in demand from established overseas dealers.

[buffalobillnuts] 22/9/2023 17:18

Now Heddin have offered 32p for Pendragon, I'm hoping Lithia will pull the plug and Heddin will get Pendragon.
That then Leaves Lithia with a whole lot of cash to spend on another UK dealer group. And who will that be I wonder?
GLA.

[santangello] 21/9/2023 08:47

Someone is buying in chunks of 25k of late. No RNS from the company regarding buybacks, so I assume it is a very keen party.

Usually no smoke without fire........

[daneswooddynamo] 21/9/2023 08:43

At 100p vtu enterprise value would be circa 450m. Lookers going out at 500m and current forecasts are for 70m profit for this year for look, around 50m for vtu. Current pdg offers around 370m for 50m forecast profit similar to vtu so 400/450 might be a more realistic range if maybe the top of range if you add in the last available large group card

[buffalobillnuts] 20/9/2023 15:18

Well, a bidding war for pendragon now!!!
If Lithia get out bid.....guess what happens next???

[buffalobillnuts] 19/9/2023 18:35

I Don't agree. Vertu own 190 dealerships, They paid £125 Million for "28 Helston" franchises, last set of figures I think said 90 million of it was borrowed.They own over 50% in property, they have multiple other sales channels, Including, Parts, Taxi sales, Vans, Leasing and a smart repair business.
NAV was around 67p. If sold, the bid price will be 100-108p plus.

[daneswooddynamo] 18/9/2023 14:44

Vtu has a reasonable slug of debt to take account of due to helston so its current enterprise value is more like 350 already

[rabiddog] 18/9/2023 13:48

Yes, it a matter of when rather than if that a bid comes in for VTU. The price has got to be 100p++ Taking it to £350-400m market cap, Lookers bid is about £500m for comparison.

[thorpematt] 18/9/2023 12:45

Lots of under-valuation in this sector. VTU has a tremendous amount of property which is in part at least surplus to true requirement and certainly worth supplement to its core business.

As Mr. Forrester has commented previously, there is a requirement to be a large player in this game - which is why the focus is on growth not divi (at this juncture at least).

[buffalobillnuts] 18/9/2023 08:32

Lithia have put am offer on the table for Pendragon.
Who's next??

[microscope] 18/9/2023 08:31

It's a PDG Lithia tie-up this morning, which leaves VTU as the leading independent in the UK.As Buffalo said earlier this month an exciting few months ahead for holders here, as all eyes will now focus on Vertu and what happens next. GLA!

[buffalobillnuts] 06/9/2023 19:16

Lookers is now sold. Hedin and Lithia are both looking to expand further in the UK. Only 2 listed dealer groups left. The next 12 month's are going to be interesting!! Eat or be eaten.

[woodwards26] 06/9/2023 18:59

Not a month to compare anything September a plate change month and august combined would be better