AIR

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!

 

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