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Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Gabelli Value Plus + Trust. We currently have 4 research reports from 1 professional analysts.

Open
122p
Volume
0.1m
Range Today
122/122p
52 Week
115/137p
Market Cap
£121.2m
Enterprise Value
£123.7m
Pension Liability
£0m
# Shares
99.7m
Latest PE (hist)
221.18
Div Yield
0.45

Latest News/RNS

(more news)
Date Source Announcement
12Dec18 17:07 RNS Half-year Report: Submission of Document
07Dec18 16:14 RNS Transaction in Own Shares
07Dec18 11:14 RNS Half-year Report
04Dec18 10:27 RNS Total Voting Rights
19Nov18 17:13 RNS Transaction in Own Shares
16Nov18 17:16 RNS Transaction in Own Shares
13Nov18 17:12 RNS Transaction in Own Shares
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  • Frequency of research reports

     

  • Research reports on

    Gabelli Value Plus + Trust

  • Providers covering

    Gabelli Value Plus + Trust

  • 04 Dec 18

Cenkos: Duke Royalty Ltd - A profitable operation

Duke's H1/19A interims are the first to show the company producing a statutory net profit following initial deployments of the £42m net proceeds from August's placing. While deployment of the remaining proceeds is taking longer than previously expected, we see this as a positive sign to the rigour of the company's due diligence process. We now expect full deployment to be completed by the end of FY19E. This will produce a step change in Duke's financials per our FY20E forecasts.

Companies: Duke Royalty
  • 05 Dec 18

On track for £350m portfolio a year early

PCF Group (PCF) has delivered a small beat with adj. PBT up 50% to £5.4m (£3.6m) on a portfolio of receivables that grew 50% to £219m (£146m) on a 75% increase in new business originations to £148m. Retail deposits, which helped fund this growth, were £191m at end September 2018. With the FY2020 £350m portfolio and 12.5% RoE targets likely to be achieved a year early, PCF is investing in the infrastructure to deliver the FY2022 target of £750m. We maintain our 60p target price (0.4x forecast £350m receivables) and Buy rating.

Companies: Private & Commercial Finance Group
  • 03 Dec 18

LIBERUM: AFH Financial Group* - Major acquisition increases PBT by 8%

AFH has done it again, making an acquisition which is both accretive and strategic. Established advisers want to join AFH to improve their client offering, to offer discretionary mandates, and to be part of a stronger group.

Companies: AFH Financial Group
  • 04 Dec 18

Share & share alike

Market volatility persists with an agreement between the US & China to defer further tariff increases lifting major indices. However, the uncertainty surrounding the Brexit process continues to dominate in the UK. The impact on our universe is clear from the table below with AIM notably weaker. The reporting season runs on, though it should lighten, ahead of the festive season next week just as the progress of the Brexit deal reaches a crescendo. In Share News & Views we comment on AorTech*, Begbies, Bonhill*, FireAngel*, Golden Ocean, IG Design, Location Sciences*, Menzies, Nucleus & Synectics*.

Companies: AOR APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LSAI NKTN PCF SNX TCN W7L

  • 11 Dec 18

S&U Update Note - Prudence & Sense

The trading update (7th December 2018) confirmed that S & U's strategy is progressing according to plan. Specifically, against an uncertain economic backdrop, it has continued to impose tighter lending criteria at Advantage (motor loans) while it is proceeding cautiously with Aspen Bridging Finance (residential refurbishment). In combination, this has prompted slight reductions in our top of the range profit forecasts, but it has served, also, to reduce our expectations for net debt. Thus, we believe that S & U is improving prudently the quality of its medium-term loan book while sensibly maintaining its ability grow this further as uncertainty subsides.

Companies: S&U
  • 10 Dec 18

S&U - Trading broadly in line

S&U’s latest trading update indicates it is on track to deliver results close to expectations for the current year. Motor finance receivables growth slowed in the second half, which prompted a reduction in our estimates, primarily for FY20. We still look for a return on equity (ROE) of above 17% and believe the discipline shown in holding to pricing and credit criteria at Advantage is a positive sign for investors. Our expectations for Aspen Property Bridging are unchanged and it should provide a valuable diversifying contribution to profits.

Companies: S&U
  • 04 Dec 18

Interim results in line; mix improving

The Group has produced interim results in line with expectations, with FY19 forecast revisions merely reflecting accounting changes and £0.3m of strategy review costs. Confidence in underlying trading is reflected in a 5% increase in the dividend to 1.05p, in line with our 3.2p forecast for FY19 (4.0% yield). The stock currently trades on 14.0x FY19 P/E and 8.7x FY19 EV/EBITDA which we feel significantly undervalues not only the current proposition from core trading, but also the medium term potential from new management’s strategy, driving higher margin products through increasing digitization and use of technology which warrants a materially higher multiple in our view to reflect the shifting dynamics of the business. We present our target price of 100p, presenting 25% upside to current levels.

Companies: Park Group
  • 28 Nov 18

LIBERUM: Ramsdens Holdings* - Don’t bet on another summer like that

Despite the already-flagged exceptional summer dampening demand for foreign currency, Ramsdens remains on track to hit full year expectations. The base effect fractionally trims FY19, but we would see the currently forecast mid single-digit earnings growth as a base case.

Companies: Ramsdens
  • 23 Oct 18

Quarterly Research Outlook

The June IPO of Knights Group Holdings, a Top-100 regional law firm, marked the fifth entrant to the burgeoning UK-listed legal sector. Following recent expansion of our coverage across all five listed legal firms, complemented by coverage of three broader support services peers with exposure to the sector, we revisit and build upon our views on this rapidly evolving sector.

Companies: ARS GTLY GENL KEYS KGH MNO RBGP TWD 7DIG ABBY AMS AMER ANX ARS ATYM AVON BLVN PIER CGS CAML CALL CSRT TIDE DTG DEMG ELM EMR FPM FPO FST GTLY GENL GRI GEEC HDY HMI HAYD HEAD HILS HTG HUR IBPO IOG INDI JHD JOG KEYS KGH LAM MACF MNO MKLW NAH OXIG PCA PARK CAKE PDG RBW RMM REDD RSW RNO RKH RBGP ROR SUS SCPA SHG SOLG TWD TRAK TRI VNET VTC ZTF

  • 06 Dec 18

LIBERUM: Non-Standard Finance* - Everyday Loans CMD - a high growth, low risk, well-run business

NSF will trade to at least 9x 2020, and the earnings growth between now and that year is the foundation of our thesis, but time with the management of its largest business has shown us and others that Everyday Loans is a properly exciting growth story, with more levers to pull than we had previously appreciated.

Companies: Non-Standard Finance
  • 10 Oct 18

LIBERUM: Miton Group* - Full year net flow target reached. 2019 EPS upgraded 6%

Miton has reported net flows for the 9m to end September which are ahead of our full year expectations. Net inflows grew AUM by 24% in this 9m period, while we expect 15% growth from net new money in 2019.

Companies: Miton Group
  • 18 Oct 18

Q4 above forecast, underpins strong outlook

The group’s Q4 update confirmed that a transformational year (AUM +72%) finished well, with another 6% growth in AUM during the final three months to £12.5bn at end September 2018. That was above our forecast and comprised a £334m net inflow, boosted by £534m of investment performance/FX.

Companies: Impax Asset Management Group
  • 06 Nov 18

North Sea Rockstar

RockRose has quickly managed to establish itself as a significant North Sea player, with an acquired portfolio of assets which were non-core to the sellers but material for a company of RockRose’s size. We initiate coverage with a BUY recommendation and a TP of 1460p, representing significant potential upside of 156% from the current share price, a gap we believe will close quickly once investors realise RockRose is trading at a sharp discount to fundamental value.

Companies: Rockrose Energy
  • 07 Dec 18

Henderson Alternative Strategies Trust - More defensive in response to macro headwinds

Henderson Alternative Strategies Trust (HAST) aims to provide a ‘one-stop shop’ for investors seeking to allocate to specialist and alternative assets. Following the retirement of co-manager Ian Barrass in June, HAST is now co-managed by James de Bunsen and Peter Webster. The trust’s focus on areas such as property and hedge funds, alongside specialist credit, private equity and emerging markets, among others, means it should be well placed to act as a source of less-correlated returns in times of mainstream equity market volatility. HAST’s NAV held up well in the market wobbles of Q118 and its move to more defensive positioning through the summer has so far stood it in good stead during the current sell-off in equity markets. Meanwhile, recent ‘buying on the dips’ in favoured holdings such as Worldwide Healthcare Trust and Polar Capital Global Financials will allow HAST to take full advantage of any recovery in sentiment.

Companies: Henderson Alternative Strategis Trst
  • 29 Jun 16

LIBERUM: AFH Financial Group - Growth & safe haven – initiation

AFH is one of a new breed of wealth management and financial advice firms operating in a highly fragmented market and one facing considerable change. The group has produced sector-leading FUM growth which we expect to continue as the market consolidates.

Companies: AFH Financial Group