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Yep, that looks like a reason.
This could be the reason
https://www.lse.co.uk/news/FGP/labour-threatens-to-strip-firstgroups-avanti-west-coast-of-contract-r1lku5ik4znnufd.html
News
FTSE 250 ----------
RBC raises FirstGroup price target to 200 (195) pence - 'outperform'
So why is the sp dropping?
Well the results, which don't seem bad to me, have gone down like a cup of cold sick judging by the share price today.
Not looking good.
FGP have no risk to fare revenues by competition, if it happens! They get paid a fee hence quote re already nationalised. No impact on SP.
Hopefully will not dent FGP income.
https://www.proactiveinvestors.co.uk/companies/news/1047966/virgin-trains-eyes-return-to-railways-in-direct-rivalry-with-avanti-1047966.html
SHARE
BROKER RATING CHANGES
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Berenberg raises FirstGroup price target to 195 (191) pence - 'buy'
LONDON, April 24 (Reuters)
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"Shares in FirstGroup, which runs buses and also has contracts for rail services in western England, to Edinburgh from London, and some commuter services in London, fell 2% in early deals. Analysts said FirstGroup's stock does not price in any future rail contracts, hence the small move."
"This is not a surprise. Labour have been talking about this for absolutely ages," said Liberum analyst Gerald Khoo. "The only thing that's slightly more tangible is they're much closer to getting into power."
Not a surprise, but not welcomed either judging by the selling volumes.
I should have sold at 184 a little while back.
If labour wins election and does what they say SP will nose dive to half. Will they do a U turn like other things they have said and changed their minds.
Jeez. Just seen the news. Labour pledge transport renationalisation. π¬
The SP has dropped. Is it being seen as bad that BlackRock has increased its holding?
Buy David Martin 182.40 GBX 100,000 400,000
But I'm confused. The news is reporting it as a sale.
"This annoucement is a correction to replace the announcement released at 13:25 this afternoon as there was an error on the attached FCA form.
FirstGroup plc (the βCompanyβ) announces that it was notified on 26 March 2024 that a Person Closely Associated with David Martin, Company Chairman, sold 100,000 shares at 182.40 pence per share. The transaction took place in London (XLON) on 26 March 2024."
Why did it go up well past 180 last week, and why has it fallen back again today?
Disappeared πππ
No First just start to make money . As a insider I can see it. Every route that wasn't profitable has been cancelled. Huge number of office workers has dissatisfied π. More and more new buses hence workshop cost reduce . And no more few buses travelling together on this same route
Big jump last few days. Fall back again before full year?
Probably a combination that a half year loss (41m) was announced late last year due to one off Β£142m pension bill and that the share buy back scheme will be drawing to a close in the coming weeks.
Why has the sp dropped to the current price, from circa 180, which it reached twice quite recently?
DIVIDEND YIELD TODAY 3%
Next ex div date 11 Jul 2024 (Thu)
3.0%
last 30 Nov 2023 (Thu)
Bought the 10/1/24 sale back today for *154p four month low three days back 153.5.
Today's low 153p early , 7am RNS company buying back yesterday 154.4p to 155.9p.
179 to 154 = 14 %
Am in rolls royce am expecting them to rise to Β£3.50 on good results in February
I am not doing that well. I bought VLS by mistake on the day they went very high as had buy order without price. Learned from my mistake not to taken a chance. I had lots of FGP shares as IIused to work for them and used to buy SAYE and BAYE hopping they would be worth a lot when I retire and they were paying good dividend.
Just had another look RoyGa I hope you did not have as much in VLS as I just discovered I had .
Not sure if any experts got that wrong I seem to have got many wrong , what chance do I have.