29/06/2022 09:17

Carsales.com (CAR) $20.18

CAR is about to spend $1.2bn expanding into the US, a move we like strategically but only time will tell if they’ve called the economic backdrop correctly. Ironically CAR expanded into Brazil in 2013 just before the country entered a recession although it should be noted the stock was trading well under $10 at the time – they’ve already experienced a recession and it actually went pretty well for them which probably bolsters their confidence today.

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27/06/2022 17:20

Carsales.com (CAR) $20.17

CAR unch: shares in the automotive classifieds business spent the day in a trading halt as they look to raise a huge $1.2b to fund the acquisition of the remaining 51% of US-based Trader Interactive in a 1 for 4.16 entitlement offer at $17.75/sh. Carsales.com initially bought into the commercial vehicles business a little over a year ago in a $US624m deal with Carsales.com saying that this portion of the acquisition...

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17/03/2022 09:16

Carsales.com Ltd (CAR) $21.02

CAR has performed in between its 2 peers mentioned earlier, the company reported strong half-year results largely shrugging off COVID as it delivered an adjusted 20% increase in NPAT and fully franked dividend of 25.5c putting the stock on a 2.4% fully franked yield.

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14/02/2022 17:14

Carsales (CAR) $21.71

CAR +0.56%: A volatile session for CAR after delivering a ‘beat’ to 1H22 earnings today with the stock opening well before tapering off throughout the session. Profit was up 20% on the same time last year while in terms of guidance, they said “we expect to deliver strong growth in Group Adjusted1 revenue, solid growth in Group Adjusted1 EBITDA...

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01/12/2021 09:54

carsales.com (CAR) $25.21

In yesterdays report we discussed Altium (ALU) which is edging towards our initial target area but no tech stocks were looking prime candidates for a switch, on reflection CAR does fit that bill, or potentially as a simple outright buy. The stock was rerated by the market back in August after they reported solid FY21 double digit growth.

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16/08/2021 08:11

Reporting Today (BPT, BEN, BSL, CAR, GPT, JBH, LLC, SWM)

Reporting Calendar: Download here Companies reporting today on MM’s radar include: Beach Energy (BPT) FY21 Results: NPAT expected to be  $324m

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03/08/2021 11:56

Flagship Growth Portfolio – Amendments

We are taking a nice profit on a relatively expensive stock in the portfolio today, reallocating into a value orientated company after a recent pullback.

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22/07/2021 09:24

carsales.com (CAR) $21.17

After looking at REA I quickly cast my eye to our holding in CAR which clearly has some similarities although it trades on a significantly lower valuation.

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22/06/2021 09:12

carsales.com Ltd (CAR) $19.53

MM took a 3% position in CAR as they raised capital to fund a US acquisition which knocked the stock.

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16/06/2021 16:39

Carsales.com (CAR) $19.65

CAR  -0.71%: We met with the CEO & CFO of carsales today (via Zoom) to talk about the acquisition they made recently in  the US called Trader Interactive, they paid just above $800m for a 49% stake partially funded via an entitlement offer with an option to buy the rest.

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