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CCV - Cash Converters

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TSM dropped at the same time as the chairman giving the AGM address.... have u read that?
 
skc said:
TSM dropped at the same time as the chairman giving the AGM address.... have u read that?
Click to expand...

I did, but the accompanying report gave me no worrying information. Even if figures are subdued this year for TSM, I still see bright prospects in the not so distant future...

Perhaps the AGM gave some additional insight that I was not privileged to...
 

I have also bought CCV and CCP although maybe I should have waited a bit longer but i still think they are undervalued at the moment.
 
We all like to hear positive things about shares we own but sometimes we need to analyse things.

I read with interest the release yesterday regarding the UK listing.
This will now put us in a longer holding pattern and not allow for the share price to act as it would under normal circumstances. The perception of our company will not be enhanced either.

There are a lot of things that don’t seem normal from the market reaction, little media attention to the scheme and a falling share price…. and now a delay. One would think the wider the gap between the offer price and the trading price the more likely the offer would be accepted.

I like the CCV business model maybe we are on the verge of great things this segment appears a standout….just look at TGA another of my holdings…outstanding result yesterday.
Maybe there will be some positive news released soon…new stores opening reaffirming guidance etc however I don’t expect that to happen.

When reading yesterdays release at first maybe CCV had made a simple honest mistake and just found out about it 2 weeks ago… I hope that’s all it is and surely couldn’t be anything other than that.

Let’s hope the scheme is allowed to be decided upon by us the shareholders on its merits and not influenced by clouded side issues.
 
Thoughts on the recent slide anyone?

Starting to appear very cheap but perhaps there are some people out there that really dont like the deal on the table?
 
VSntchr said:
Thoughts on the recent slide anyone?

Starting to appear very cheap but perhaps there are some people out there that really dont like the deal on the table?
Click to expand...

If you look at the fundamentals it certainly looks cheap.

I sold out and made a loss on CCV and CCP because I saw the whole market going down in the short term.

Worth watching for sure but I am not pulling the trigger on anything right now as I think there is more downside left.
 
Isn't there an issue with the EZCorp investment in CCV in that EZCorp will remove a lot of the free floating shares in CCV, making it an even more illiquid stock than it already is?

Without really knowing the fundamentals of the announcement of EZCorp's increased involvement with CCV (having not read the announcement for some time), it seems to me that in a downward-trending market and with the spectre of potentially being locked in to a company effectively controlled by a US corporation, some investors are heading for the hills?
 
But surely at some point the 'arbitrageness' must come in to play...? selling at $0.91 to ezcorp looks very appealling
 
An article on the back page of the AFR, suggested that should the government introduce a payday lending cap, that CCV's profits might turn in to losses!

That is the only thing I can relate to the sell off. I have my finger poised directly over the buy button!
 

That would no doubt be the explanation. It reminds me of MMS when they got sold down big time on rumours of salary packaging regulation change. They've gone up 3x since.

Wouldn't surprise me if the company comes in with an announcement tomorrow to clear a few things up.
 
Interesting. Didn't QLD impose this once before a few years back?
 
I'm not 100% certain, but I believe most states and Territories have some form of cap in place. I'm not convinced that a cap would turn CCV's profits to losses.
 
takeprofits said:
I'm not 100% certain, but I believe most states and Territories have some form of cap in place. I'm not convinced that a cap would turn CCV's profits to losses.
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Yeh, a quick google search showed that NSW was even considering lifting a cap only last month!

I dont have access to the AFR so I couldnt read the article to determine the seriousness...but it seems like a massive over reaction and like SKC eluded to...could prove to be a huge buying opportunity....especially with a takeover offer in at a 33% premium to current price...
 
Got in this morning for 70c. Hopefully not much potential downside from there, with a fair whack of potential upside. I plan to hold for 13+ months and pick up a few dividends along the way.
 
takeprofits said:
Nice announcement from CCV this morning. Should reassure holders a little bit.
Click to expand...

As a shareholder, I have been following ASZ's recent share performance. Admittedly I have been tempted at pulling the buy trigger with the dip in its share price.

I note that there is a further full page feature article in the AFR (page 61) today (01/06/11) on CCV titled "Debt traps in payday loans", which puts the company in a negative light and which may further push the share price down.
 
So whats up today mr market? Something that the newspaper has said about CCV again?

Getting cheaper and cheaper..even if the proposed caps went through CCV would not go bust. A cap is in place in NSW and they are still profitable in that state. The management of CCV is excellent and I can't see them just folding their hand and giving in - they will have strategies to cope with whatever the outcome may be.

Also the EZcorps offer for $0.91 is still there...

I Now have the stock trading at ~25% Margin of Safety.
and if you are certain that the deal will go through...then this margin is even bigger...
 

It has got me stumped as well.....EZ trading well at the moment ...I can't see them backing out....one would imagine those wanting to question the scheme (I am or was one) will now be quiet and take .91 for 30% of their holding....the experts report will no doubt put the scheme in a favourable light even more so with the current price. Looks like an ideal oportunity for Ez to raise the stakes ...really opens some options here for them...I sold down 20% of my holding today @ .65...it all looks wrong at the moment... there seems no plausable reason to me for this to be the way it is.
To me what would have been normal was it to trade say between .81 and .86 till the scheme was voted on then let the market decide...but drop to .62...somethings either not right or it's just one hell of an anomally.
 
Just looking at the CCV 2010 Annual report - am I reading it right? What does it mean to say they received the equivalent of an 88.5% interest rate on their fixed rate instruments in 2010, 104.04% in 09 (n 18, p 56)? Is that interest going to directly to their profitability (and impressive EBITDA margins of ~25%)?

Thanks for the help.
 
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