I know nothing more than you. 6% down as I type on no real news that I'm aware of. Retail stocks have been getting hammered so maybe the focus has turned to PETS for no reason other than to give the sp a good kicking to create a buying opportunity for the market? Better explanations gladly considered!
Citywire AAA-rated hedge fund star Thierry Lucas has ramped up his stake in out-of-town retail warehouse chain Pets at Home (PETS) as its shares tread water close to last years record lows.
Lucas increased his holding in the business from 1.6 million shares to more than 15 million or just over 3% worth £25.7 million at a share price of 171p, down from a 2015 high of 311p.
The shares are held across Lucas fund range at his hedge boutique Portland Capital, which he launched in 2012 and which last year increased client assets to above $1 billion (£714 million).
Enthusiasm about Pets at Homes prospects lifted shares almost 30% in its first 18 months on the market, but buyer appetite was already flagging even before a warning on weak sales last year drove its shares 36% lower to an eventual bottom of 154p.
Former private equity owner KKR sold down its remaining 12.3% stake in the business at the end of January at a guide price of 170p. "
I would sit on my hands if I were you. No CEO and a trading model which is beginning to wobble. It's one of those situations where the next weeks trading might end up with a 3 or 4 % rise or a 10% fall. I have got badly scared hands from trying to catch falling knives in the past and it is very difficult to judge right.
We were both right in a way :- Coltrane Asset Management, L.P. 1.90% ðÔ 0.10% 25 Sep 2017
They increased on the 26th , not much but it was an increase . Still , over 8% of the shares have to be bought back at some stage before the SP goes up much more . If they buy them back on the same day , could be interesting .
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