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CDA - Codan Limited

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qldfrog said:
So did you trim before the fall?
Interesting chart
Click to expand...
No, too complacent.
But trying to sell down some in dribs and drabs today. Can't find a decent amount high in the bid queue to sell too. Have sold 1,500 so far.
Have another 1,000 high in the offer queue. Very antsy, been buying too much fossil fuel lately and none of those going well, as you would have seen.
Edit: just got off another 1,000 @ 14.50
 
That reduce has taken the edge off a bit. Will sit for a while and see what transpires. An inadequate cash position combined with an overweight and overvalued stock (by my estimate only) is not a comfotable psychological state. The more so when I believe we're all playing chicken with timing an eventual crash.

Held
Trading stance
 
And as i know too, not to mention silver...
 
Drip feeding. Got off another 1,000 @ 15.43.
I have to resist putting any of it into other targets, i.e swapping quality for less quality.
Cash is my target, not stocks. Must keep telling myself.



@galumay is rather quiet. Although I know his attitude by now, "bought a part of the business"





Held
Reduce mode
 
Another acquisition for their communications division. Cost is $34m using their debt facility and they think the addition will be earnings accretive from year one. EBITDA multiple of x 4.2 looks cheap? There is also a 5 year royalty clause subject to conditions. The business is mostly about combatant worn communications on the field of conflict and the acquiree (Kägwerks) is already contracted as a provider to the U.S military and security departments as well as having relationships with British, Australian and N.Z defence ministeries. Also has clients in public safety.

Home - Kägwerks

Kägwerks provides unmatched integrated tactical communications solutions that help further our national security objectives.
kagwerks.com

 
Yep, looks a sensible bolt on at a good price on face value. No mentions of synergies, so thats a plus!!
 
Well that is either a strong buy or a strong sell, just have to work out which one.
 
@galumay, I waver as to whether I take a weak interest in what the brokers are publicly saying. Cynicism is the rational reaction with the obvious conflict of interest regarding paying clients vs pronouncements to the public, but if there is a fresh rerate of a stock from more than one broker I do take a bit of interest.
Bell Potter were all over the place in their recommendations for Imdex (IMD) in 2024. Completely non actionable suggestions.
The price of IMD today is 2.37.
In Feb 2023 they put a BUY target on IMD of $3!
One year later, Feb 2024 they put a SELL on it with a target of 1.50.
So not listening to BP on CDA unless another broker or two chimes in.
 
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