CDA - Codan Limited

[finicky]

Admit it - you're encouraged a little - I am anyway.
On broker calls I hope someone at Bell Potter is embarrassed by their 5 Feb note downgrading Imdex to a sell. IMD rallied hard on its H1 release and peaked at 2.13

 

[peter2]

It's about time CDA got moving higher again. Surely with the POG rising so rapidly everyone who's travelling around Aust must buy a gold detector and have it handy in the caravan. Seems that we're waiting for the next news report.

Bought at $11 (iSL at 10.20), still holding.

 

[finicky]

Breakout to a 12 month high today. Second top performer for the day in the ASX 200


Held and
Holding

DAILY

 

[finicky]

Are they in cahoots?
Yesterday a price slump following a broker downgrade:

11 June

Broker Moves

• SiteMinder Raised to Overweight at Wilsons; PT A$6.50 • Brambles Raised to Overweight at Morgan Stanley; PT A$16.60 • Codan Ltd Cut to Neutral at Macquarie; PT A$11.15 • Cauldron Energy Rated New Speculative Buy at Euroz • Northern Minerals Raised to Speculative Buy at Ord Minnett • APM Human Services Cut to Hold at Bell Potter; PT A$1.45

While today:

13 June

Broker Movers

Codan Ltd Rated New Buy at UBS; PT A$13.10 Champion Iron Raised to Outperform at Macquarie; PT A$7.90 Lovisa Cut to Hold at Jefferies; PT A$35 Seek Raised to Overweight at JPMorgan; PT A$26.50

 

[galumay]

Whats the take on it at our favourite boutique micro cap fund?

 

[finicky]

Still on the blower doing the rounds to my inside sources @galumay. Would be unwise to divulge my eventual conclusions here (asic)

 

[galumay]

I was expecting a valuation to 3 decimal places.

 

[peter2]

Keep ramping it to your Microstonk fund subscribers. We want this break-out to stick and price to hit it's next level up.

 

[finicky]

I'm sorry @peter2 but my stonk boutique clients (not subscribers) are investors, not fickle and cynical traders creaming off price exuberance from the naive. My clients had to pass strict selective criteria and even so, the list got too big and is now closed to entrants.

But let's not get distracted from the subject of the thread - dynamic Codan (CDA)

 

[finicky]

12 month high

 

[finicky]

Last week CDA was making 12 month highs. This week the wheels fell off and I'm going to assume this is some entity or entities intentionally not hanging around for the full year results to be handed down 22 Aug. Heightened volume too. Here's hoping. This is now my biggest holding.

Held
Holding

DAILY

 

[galumay]

Have to be happy with CDA's results for FY24. Debt has grown a bit, but its under my threshold and I like that they openly say it was partly to pay for dividends. Other metrics are solid, cashflow impacted by the acquisition.

 

[qldfrog]

Have to be happy with CDA's results for FY24. Debt has grown a bit, but its under my threshold and I like that they openly say it was partly to pay for dividends. Other metrics are solid, cashflow impacted by the acquisition.

View attachment 182967

Taking debt to pay for dividends
Once you turn and turn it over, isn't it exactly the definition of a ponzi scheme?
Except the lending banks will get their money back..not specific to CDA btw

 

[finicky]

Woohoo, it's a beat that's all I 'know'. A beat on pcp I mean.

Held

 

[Rosscoe62]

CDA - part of the (Information Technology) leading sector over the year.

Great looking 6 monthly daily chart but has run very hard …

September has arrived, expect a pull back shortly to consolidate.

I continue to hold …

 

[finicky]

Great looking 6 monthly daily chart but has run very hard …

September has arrived, expect a pull back shortly to consolidate.

I agree. Chart looks quite ok but I am considering trimming. I estimate it's become overvalued again. Currently my biggest holding. Too overweight intuitively. I hate selling down a great company that becomes wildly overvalued but if I don't I will have to deplete an already inadequate cash weighting in order to take advantage of the inevitable correction. Been buying too many stocks lately. Never know when the big axe drops. Last time I started trimming CDA because of a valuation concern it went on to fricken double, lol.
It's good but it is not worth a PE= 33, Price/Book Value = 6

Held
Trading stance

 

[finicky]

CDA 13.80, down 8.5% at luncheon

Prophetic words:

September has arrived, expect a pull back shortly to consolidate.

Not prophetic words:

Chart looks quite ok but I am considering trimming.

Held
Holding

DAILY

 

[finicky]

^^^
Not 'market sensitive' but think I should amend my sentinent of 'Holding' to 'Trading Stance'.
If I get an attractive offer I intend to lighten but will hold a majority of my shares

 

[qldfrog]

CDA 13.80, down 8.5% at luncheon

Prophetic words:

Not prophetic words:


Held
Holding

DAILY
View attachment 183951

So did you trim before the fall?
Interesting chart

 

[Rosscoe62]

Has moved back to the moving averages. Been on a tear-away in recent weeks.

Time for CDA to consolidate, there is where trailing stops come into play subject to your rules. I continue to hold …

Typical September drama.

Nice bounce in the US overnight. Futures here looking good, we’ll see where CDA is placed at the end of the day …

A quick glance of things ->