Betfair set float price

[superfrank]

Weak economic data recently and weak sentiment - firms replying on discretionary consumer spending get hit hard at those times - pub chains down sharply today.

[andyfuller]

Another day, another low, hit 578.00 before closing out the day down 2.66% at 584.50.

Goldman Sachs on Wednesday 27th July told clients to BUY Betfair at 669.50

http://www.waterworld.com/index/display ... 35301.html


Whilst short sellers hold 10.5% of shares

http://www.thisislondon.co.uk/markets/a ... od-news.do


Betfair should break through the 1,000,000 shares bought back tomorrow. So how low can the price go? Looks like they are running out of ideas

[Euler]

They should open up a market on Betfair's share price, plenty of people willing to bet on that.

Interview with Betfair CTO: -

http://www.bbc.co.uk/news/business-14392233

[CaerMyrddin]

Goldman Sachs on Wednesday 27th July told clients to BUY Betfair at 669.50

I wonder the amount they are actually shorting?!

[andyfuller]

Closed the day down 17.50 (2.99%) at 567.00 hitting a low of 562.00.

BF bought a further 40,000 shares, lowest price paid was 562.00, this brings their total repurchasing to 998,960 shares, still a long way to go there.

Also Josh Hannah (Director) purchased 35,000 shares at 579.00 bringing his total holding to 623,672 ordinary shares - 0.5818%

Makes you wonder where the price would be without all of this buying by BF and those linked to BF

[superfrank]

Closed the day down 17.50 (2.99%) at 567.00 hitting a low of 562.00.

BF bought a further 40,000 shares, lowest price paid was 562.00, this brings their total repurchasing to 998,960 shares, still a long way to go there.

Also Josh Hannah (Director) purchased 35,000 shares at 579.00 bringing his total holding to 623,672 ordinary shares - 0.5818%

Makes you wonder where the price would be without all of this buying by BF and those linked to BF

Makes you wonder what directors do all day... probably just watching the share price looking for opportunities.

If directors trading shares in their own companies isn't insider dealing then I don't know what is?!

[andyfuller]

At close of trading today there are 107,187,804 shares in issue valued at 567.00 giving the company a valuation of £607,754,848.

At floatation on 22nd October 2011 they were valued at £1,400,000,000.

So in 286 days they have lost £792,245,152 in valuation (a loss of 56.59%) which equals £2,770,087 a day every day

See there is always someone having a worse day trading then you are



And on a side note as mentioned earlier in the thread whilst all this has been going on:

The total package for Yu, who told the board last month that he would be stepping down, rose by 125% last year to £824,676, according to Betfair's first annual report as a public company. That rise was trumped by Morana, however, who got a 445% increase to earn £1.6m in the year to April

http://www.guardian.co.uk/business/2011 ... um=twitter
.

[superfrank]

Companies are run these days for the benefit of the senior management, then shareholders, then the future prospects of said company. It should be in reverse.

[andyfuller]

This was annouced this evening, can anyone explain why they would pay, i assume, Barclay's Capital to purchase the shares rather than just stick solely with what they have been doing themselves?:

BETFAIR GROUP PLC - PURCHASES OF SHARES DURING CLOSE PERIOD

Betfair Group plc (the "Company") announces that it has entered into an irrevocable arrangement with Barclays Bank PLC, acting through its investment banking division Barclays Capital ("Barclays Capital"), to continue the repurchase of Ordinary Shares, previously announced on 29 June 2011, during the Company's close period. The arrangement allows Barclays Capital to purchase, independently of and uninfluenced by the Company, up to £4,000,000 of ordinary shares in the Company during the close period of the Company arising between the date hereof and the date of the announcement of the Company's 2012 Q1 results. These share purchases will be made on the Company's behalf and in accordance with the arrangement.

Any share purchases effected pursuant to the arrangement will be subject to the terms of the arrangement with Barclays Capital and in any case will be effected in a manner consistent with both the general authority vested in the Company to repurchase shares and Chapter 12 of the United Kingdom Listing Rules, which require that the maximum price paid be limited to be no more than the higher of (i) 105 per cent of the average middle market closing price of the Company's ordinary shares for the five dealing days preceding the date of purchase and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out.

[pt9091]

Maybe dont want to be done for insider dealing and or directors propping up there share price, form of manipulation!, (the only thing they excel at) pass the buck to Barclays now!

I can see the share price getting to the £2-3 mark in the next few weeks, what a joke of a company, they reach new depths every day, still cant believe they suspended peters accounts, if anything they should have looked after him like royalty, the amount of business he;s indirectly sent there over the years, id have though at least they would have made him exempt from the new 60% supercharge as a token of gratitude, absolute tossers they are, no wonder David yu has a dodgy heart, surprised he can sleep at night, he's going to be responsible for one of the biggest corporate cock ups in history!

[andyfuller]

If I have understood correctly Legal & General Group Plc (L&G) have acquired a 3.04% of voting rights in Betfair:

http://www.investegate.co.uk/Article.as ... 552471375M

[andyfuller]

Share price has been on a nice rise of late helped I guess by the buying pressure from Legal and General and Betfair.

One thing I have noticed the last few days and need to look at more is that the share price seems to perform well in the last couple of hours of trading.

Betfair's buying is representing a significant proportion of each days traded volume and going off the lowest price and highest price paid each day it would seem to indicate that they go into the market later in the day.

A possible angle perhaps?

[andyfuller]

An interesting blog post that is worth a read about Turnover and Revenue:

http://thesportspunter.blogspot.com/201 ... lysis.html

[Euler]

Revenues down 7% in latest management statement: -

http://www.investegate.co.uk/article.as ... 6723N&fe=1

[andyfuller]

Several interesting things in the Management Statement, 2 that were of particular interest for me:

Looks like they are pleased with the new Premium Charge, though the reason they give seems somewhat different to what was stated else where about getting a fair return from PC payers:

"Towards the end of the period, we introduced targeted pricing changes for a very small number of customers which we believe will improve the balance of the Exchange ecosystem and ultimately lead to higher revenue growth. Whilst the impact will be assessed over the longer term, we are pleased with initial results."

Also does anyone know what they actually do with our funds on deposit? They made £900,000 in Q1 up from £700,000 in the previous year Q1 from what they call Revenue from management of customer funds. Are they actively using our money or is it just interest they earn on it?