CCP, CREDIT CORP GROUP LIMITED

[mullokintyre]

Kinda surprised no one has had anything to say about CCP over the past two and a half years.
Its a major player in credit markets.
The price had risen to high of 37 before the Covid panic in march.
It then plunged to a low of $6, one hell of a fall.
Since then it has risen almost back to where it was, trading at a recent high of $34.
Still seems a bit pricey to me, even allowing for the improved expectation of earnings.
PE at 130, forecast next year at a more modest 38.
Would have been a good bet back in March with over a 400% increase.
Hindsight, what a great way to invest.
Mick

[blacksheep]

In Reply To: blacksheep's post @ Jun 29 2018, 03:16 PM

All very quiet on the CCP/Checkmate front

Seems Checkmate Research has caught up with today's news - https://twitter.com/checkmateresea1 - wonder if they are still short or whether they had cover in July (see chart)

Afterpay was not the only company to lose ground on the share market — shares in Credit Corp, which buys and collects debt, tumbled close to 9 per cent lower, while shares in lender Money3 fell nearly 14 per cent.

https://www.abc.net.au/news/2018-10-17/afte...-fears/10387982

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[blacksheep]

In Reply To: blacksheep's post @ Jul 31 2018, 12:01 AM

SP @ $20.427 currently up 6.91% following release of Quarterly Update

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[blacksheep]

In Reply To: blacksheep's post @ Jun 29 2018, 03:16 PM

Short positions are now 6.88% - as at 25 June 2018

Still climbing - 7.60% @ 24 July 2018 - https://www.shortman.com.au/stock?q=ccp

Preliminary report due tomorrow - perhaps some are expecting no so good news?

Checkmate Research has been very quiet since its report

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[blacksheep]

In Reply To: blacksheep's post @ Jun 26 2018, 08:19 PM

All very quiet on the CCP/Checkmate front
Bennelong Australian Equity Partners have increased their s/h from 6.7888% as at 26/618 to 8.0737% on 28/6/18
SP currently down 4.11% @ $17.98/share. Short positions are now 6.88% - as at 25 June 2018
https://www.shortman.com.au/stock?q=ccp

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[blacksheep]

In Reply To: blacksheep's post @ Jun 25 2018, 07:24 PM

Updated chart - SP currently $18.53 - down slightly today - 0.38%.
Shorts slightly up @ 20 June 2018 = 5.85%

Appears CCP has won the first rounds

The Australian has responded to Checkmate's request - "The journalist @EliGreenblat has not contacted us and thus has failed to learn our point of view"

Check, mate

Would the real Checkmate Research please stand up? Or at least please call, asks Margin Call. There’s nothing wrong with short selling or analysts highlighting short opportunities. In the equities world it was short sellers who first declared the emperors at US energy giant Enron “had no clothes” — and were proved right — and the same could be said about Glaucus Research, which hunted down shaky sandalwood company Quintis. But in both cases at least the authors of the report put their name to it, had a website and an office anyone could contact.

https://www.theaustralian.com.au/news/brief...3deaa4e4a4181c1

What will be Checkmate's next move?

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[blacksheep]

In Reply To: blacksheep's post @ Jun 25 2018, 01:46 PM

So the report by Checkmate was - " obviously designed to spark a share price fall" - but the "bullish analysts reports" were NOT "obviously designed to spark a RISE in the SP" - OK, gotcha

Credit Corp bounces back after anonymous report

Bullish analysts helped Credit Corp shares bounce back on Monday after an anonymous report wiped $62 million from the debt buying and lending company's market value late last week.

Morgans, Ord Minnett and JPMorgan all upgraded their investment recommendations for the $833 million company, variously describing an attack from Checkmate Research as inaccurate, lacking credibility and obviously designed to spark a share price fall.

https://www.afr.com/business/banking-and-fi...20180625-h11u1w

[blacksheep]

In Reply To: mullokintyre's post @ Jun 25 2018, 01:31 PM

Agree - we've seen the same applied to other stocks attacked by short sellers. House brokers/analysts supporting the company "as long as possible"

[mullokintyre]

In Reply To: blacksheep's post @ Jun 25 2018, 12:09 PM

Call me a Cynic Blacksheep, but I reckon the only reason JPM puts a buy on anything is when they want to offload a heap.
Their mandate is JPM first, second and third.
Mick

[blacksheep]

In Reply To: blacksheep's post @ Jun 25 2018, 11:58 AM

I see a number of analyst upgrades - I wonder how much "research" they have really done? Like the other targets, it will take some time before we know who got it right. Currently the market looks like it's got confidence in the JPM's - SP up 6.82% @ $18.65 - although on Friday there was a notable short alert

Fri 22nd Jun, 2018 531,033 47,709,025 1.11% 4,026,974 13.19%

https://www.shortman.com.au/stock?q=ccp

Credit Corp's FVE of AUD 18.00 Unchanged Following its Response to Anonymous Report
We confirm our fair value estimate of AUD 18.00 per share for no-moat-rated Credit Corp after its response to what it identified as an "anonymous report," or Report, which makes several damaging claims about its business. We have reviewed the Report and are not persuaded to make any changes to our fair value estimate. Credit Corp also took the opportunity to indicate it is experiencing strong operational performance and reaffirmed fiscal 2018 guidance of NPAT of between AUD 62 and 64 million.

Credit Corp Upgraded to Overweight at JPMorgan; PT A$20.50

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