AIR released Interims today. Full details on Investegate. They look very healthy to me and I am glad I have stuck with this stock. Though I did have a slight wobble back on 29th August when I sold 1,127 shares at 370p, which as it turned out was a low! I should have shown more backbone.
It is currently 8.6% of my non cash portfolio and very volatile for reasons unbeknown to me. However the volatility recently has been all one way – up.
The price having risen from 370p since the beginning of July to the present price of 490p. I should have picked some more up after the referendum result when the price dropped to 329p. How utterly rediculous that it fell at all, let alone to this level, but I failed to do so and I am only just getting comfortable with large holdings as a percentage of my overall portfolio. That would have been a 50% gain in three months.
I am tempted to pick some more up to take the holding to 10% of the portfolio. I will think on it today and see. It has good Stockranks of 84, 68 and 74. With an overal rank of 93. It has the following relevant(to me) figures:
Historic PE – 16.8
PEG – 0.49
ROCE – 18.6%
ROE – 14.2%
Divi Yield of around 5.5%
Turning to the chart the share touched 620 back in January 2014 and declined steadily ever since (I suspect because Mr Market got board). I would have thought that this sort of level would be a reasonable target in the short to medium term so I am very happy to hold and possibly top up.
One downside on this stock is the spread which is in the region of 690bps. An aspect of stocks which I still don’t understand!