Surely they don't dump on market? Would have thought most would be 'transfered' to a differnt fund?
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Thanks BP, makes sense. Hmmmm, transferring to a different fund, that’s interesting, good point trex, makes me think that dropping out of the top 50 may not always mean a big fund sell off.
Close to 6.7m traded today at a VWAP OF 77c, with another 800k worth of buys queued up between 73-76c. There have been around 6 bigger trading days in terms of volume since the IPO.
Who thinks that this is the bottom?
Do you think he'd be looking to offload shares with the sp still in the gutter?
He has held those shares since the IPO and could have sold at above $2.00 when the shares were riding high.
So whether he sells now depends on so many factors like :
Where he perceives value to be,
If he needs the money to fund life and businesses after MPG (I note his total remuneration has been very generous for the pathetic job he has done at MPG),
Whether he has already been selling!
Only he can answer the above questions.
Balance - most of Rigby’s share are pre IPO and didn’t cost him much if anything (incentives eh)
If he had been selling we would have seen some notices eh
Whether he sells may also depend on whether he’s really pissed off with the company (sorry he resigned) or still has some empathy and love and sees that what he’s put in place is worth $1.50
Market says its worth just half that now, another all time low of just 75 cents. Very pleased I sold when they breeched the $1 level. Classic case in portfolio management.
Never hold shares in a confirmed downtrend. Acknowledge that from time to time you WILL makes mistakes, (nobody ever gets 100% of their picks right) and own up to your mistakes and take the loss on the chin and move on. Wonder how that comprehensive business review program is going...whenever a company hires expensive outside consultants to tell them how to run their business you have to wonder, isn't that what management are being paid the big bucks for and are supposed to know how to do already ?
No if's and no but's, hold no mutts, (unless they're the furry variety).
I bought back in today. Possibly missed something but if they hit the lower end of their forcast net profit 18.5m (which I assume must be there or there abouts as we end march with no downgrades thus far) ...they have a p/e of just over 7 and a 8-10% ish dividend on the way.
Good luck, downgrades usually come in three's.