CDA - Codan Limited

[mullokintyre]

Had a low ball bid in at 3.88 that got picked off today.
reasonably happy with that figure.
Mick

 

[finicky]

Yes got a small bid in at same price.
Lost trust in management though. Inconsistently I am still using their guidance to form a rough idea of current value based on guided FY23.

 

[galumay]

I think I will wait, no doubt when the H1 report comes out with the telegraphed -'ve cashflow and drop in NPAT, the market will dump CDA even further, even though its well and truly priced in. Its a lesson it took me a while to learn, sentiment keeps dropping way past any rational point, (just as it goes up past it, think $18).

 

[finicky]

Two directors buying on market:

G Barclay, announced 02 Nov, 60,000 shrs @ 3.84 = $230k
K Gramp, announced 01 Nov 12,500 shrs @ 3.88 = $48k

 

[MannyTheMemmoth]

Two directors buying on market:

G Barclay, announced 02 Nov, 60,000 shrs @ 3.84 = $230k
K Gramp, announced 01 Nov 12,500 shrs @ 3.88 = $48k

I hope it recovers in 1-2 years time. I bought when it was 8, under 50k atm.
P.S. I am a noob.

 

[finicky]

@MannyTheMemmoth 9 years ago 'the market' makers thought CDA was worth 50c. So they can be very wrong. Before recent updated guidance I thought CDA was worth at least $8. Consolingly we'll likely continue to be paid franked dividends while we wait and see. It's usual to see director buying as a good sign but they can jump the gun in order to send a positive signal to the market. The chart I am afraid is not that reassuring at the moment, although we are back at the 2020 Wuhan virus level. Patience I guess.

Held

 

[MannyTheMemmoth]

@MannyTheMemmoth 9 years ago 'the market' makers thought CDA was worth 50c. So they can be very wrong. Before recent updated guidance I thought CDA was worth at least $8. Consolingly we'll likely continue to be paid franked dividends while we wait and see. It's usual to see director buying as a good sign but they can jump the gun in order to send a positive signal to the market. The chart I am afraid is not that reassuring at the moment, although we are back at the 2020 Wuhan virus level. Patience I guess.

Held

Thanks for sharing, really appreciate it. Yes I am going to hold for longer(few yrs). The only thing is money is stuck now and can't put anymore. Anyway learning a few lessons by losing quick money. Based on my little knowledge in this field, seems like this may take years to turn around unless some big takeover rejected bid

 

[Garpal Gumnut]

Two directors buying on market:

G Barclay, announced 02 Nov, 60,000 shrs @ 3.84 = $230k
K Gramp, announced 01 Nov 12,500 shrs @ 3.88 = $48k

Jayzoo !!

Not held.

I remember trading CDA - buy above $9 something, - sell above $12 something. And not that long ago.

I guess hanging in is worthwhile at these prices. It also might be an idea to call or visit one of their offices or manufacturing plants to find out what is happening.

This may not be easy as their website although flash doesn't actually say anything about front office presence except that they are located ALL OVER THE WORLD, INCLUDING EVER DARK LITTLE SH*THOLE YOU'D NEVER WANT TO VISIT.

Their board imo is "challenged", but has the usual corporate governance gumph, but much of the under the hood info is out of date unless you are one of the cousins with whom they deal.

These outfits usually do well during wars and a low $AUD, so I'm surprised the SP is still falling.

I may have to visit Miss Moneypenny in her Retirement Village to find out what the go is.

gg

 

[finicky]

A Livewire article that might throw up an idea or two if you're into insider buying. Codan is in the top 10 of director buying over recent two weeks. I see that Reliance (RWC) has 4 directors buying significant amounts and a crapped out chart. The most magificent on market gesture came from someone with MFF Capital (MFF)

Nine stocks insiders are buying - and why it matters

We’ve recently seen the running of the race that stops that nation, the Melbourne Cup. If ever there was an event where the ‘inside running’ could provide a material benefit, this is it. And no, I’m not talking about the race day scuttlebutt that sweeps the yard and leads...

www.livewiremarkets.com

 

[finicky]

Why I'll Sell My Codan (ASX: CDA) Shares - A Rich Life

Mea culpa. I underestimated Sudan's risk to Codan (ASX: CDA) and I've lost money as a result.

arichlife.com.au

Claude Walker selling out of Codan. The article dated Oct 26 now sent to free newsletter subscribers. Reckons the management was misleadingly reassuring over the decline in Minelab sales. That was certainly my feeling. All the commentary to us hoi polloi had been pretty benign, yet someone(s) was bailing out buckets of shares into the market. Then the hammer drops and the coup issue in the Sudan is suddenly a big deal and overall sales of Minelab have dropped almost in half. Thinks they've mismanaged the situation and drop in cashflow a big turn off. Mostly though a matter of lost trust. Anyway, as he said himself, he's just one guy (an over analytical one who gets lost in the convolutions of his own logic in my book; been wrong before e.g. XRO buying early)

Why I plan to sell my Codan shares.

 

[mullokintyre]

Why I'll Sell My Codan (ASX: CDA) Shares - A Rich Life

Mea culpa. I underestimated Sudan's risk to Codan (ASX: CDA) and I've lost money as a result.

arichlife.com.au

Claude Walker selling out of Codan. The article dated Oct 26 now sent to free newsletter subscribers. Reckons the management was misleadingly reassuring over the decline in Minelab sales. That was certainly my feeling. All the commentary to us hoi polloi had been pretty benign, yet someone(s) was bailing out buckets of shares into the market. Then the hammer drops and the coup issue in the Sudan is suddenly a big deal and overall sales of Minelab have dropped almost in half. Thinks they've mismanaged the situation and drop in cashflow a big turn off. Mostly though a matter of lost trust. Anyway, as he said himself, he's just one guy (an over analytical one who gets lost in the convolutions of his own logic in my book; been wrong before e.g. XRO buying early)

Why I plan to sell my Codan shares.

Thats the final straw.
Sold out this morning.
A small profit on the 3.88 I paid for the last lot, the rest a big loss.
Moving on, looking to at something else.
mick

 

[frugal.rock]

My question is, why would you chop the photo down. What a weird world and weird people in it...

The Best Beach and Saltwater Metal Detector

Detecting at ocean beaches is the dream of most detectorist. Plenty of gold and silver to be found, incredible views, great weather, and beautiful bikini clad women swinging detectors…Okay th…

diggersreview.wordpress.com

 

[Dona Ferentes]

there's an element of conceit in calling subscribers "Supporters" . That's like being a customer at the hospital.

 

[MannyTheMemmoth]

Thats what I was saying in my first ever reply. They did not release the info at result announcement and only after 2 months in general meeting they dropped the bomb. Their justification was that they did not know the real depth of the issue and only got to know when couple of their team members got a chance to fly few days ago and suddenly it's %50 less sales forecast. That's sounds very dodgy. Surprisingly the stock kept going down from 8+ to 4.8 without any news during those 2 months. Obviously people with insider info were selling slowly and then they released the info once that was over?
Me being naive kept buying to average out and now under a loss of 50k. Can't sell, have forgotten about it, will check back in 1 year.

Why I'll Sell My Codan (ASX: CDA) Shares - A Rich Life

Mea culpa. I underestimated Sudan's risk to Codan (ASX: CDA) and I've lost money as a result.

arichlife.com.au

Claude Walker selling out of Codan. The article dated Oct 26 now sent to free newsletter subscribers. Reckons the management was misleadingly reassuring over the decline in Minelab sales. That was certainly my feeling. All the commentary to us hoi polloi had been pretty benign, yet someone(s) was bailing out buckets of shares into the market. Then the hammer drops and the coup issue in the Sudan is suddenly a big deal and overall sales of Minelab have dropped almost in half. Thinks they've mismanaged the situation and drop in cashflow a big turn off. Mostly though a matter of lost trust. Anyway, as he said himself, he's just one guy (an over analytical one who gets lost in the convolutions of his own logic in my book; been wrong before e.g. XRO buying early)

Why I plan to sell my Codan shares.

View attachment 149270
View attachment 149271

 

[finicky]

I'm holding too, but this rally since the October guidance plunge is looking weak. I don't remember seeing a bottom form on other stocks with action like this.

Held

Daily (50, 100 dmas)

 

[MannyTheMemmoth]

I'm holding too, but this rally since the October guidance plunge is looking weak. I don't remember seeing a bottom form on other stocks with action like this.

Held

Daily (50, 100 dmas)
View attachment 149272

I know too little but I don't think it's a rally or otherwise, it's just horizontal and following the broader market sentiment, next management update(half year result) will take it to either 5+ or 2+.

 

[mullokintyre]

I don't remember seeing a bottom form on other stocks with action like this.

its a bottom to rival Kim Kardashian's , and about as attractive.
Mick

 

[Dona Ferentes]

its a bottom to rival Kim Kardashian's , and about as attractive.

can't make up its mind

 

[MannyTheMemmoth]

Codan to supply HF radio technology for Bushmaster - Australian Manufacturing Forum

Codan Communications is to supply RF technology to Raytheon Australia which will ultimately be fitted to Australia’s Bushmaster protected mobility vehicles. The Adelaide company has been selected by Raytheon Australia to develop and supply a High Frequency (HF) Amplifier and Antenna System as an...

www.aumanufacturing.com.au

 

[finicky]

Creeping along in these obscure and doubtful days. Good day for Chalice Mines (CHN) so sold 1,000 of those at market for avg 6.19 and bought 1,000 CDA @ 3.76
Cheaper price than director buying a month ago anyway.
I have to fence-sit and say that the chart is ambiguous to me, the ice might be cracking below but on the other hand volume is low and daily momentum is mildly encouraging. I must say again that I don't recall any other stock bottoming like this, so for all I know, maybe down to 3.50 (or worse)?

Daily