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Virgin Money UK (VUK)

$3.77
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MM are buying VUK in the Flagship Growth Portfolio, allocating 4% around $3.73

OPINION

Virgin Money (VUK) $3.77

MM bought VUK yesterday for our MM Flagship Growth Portfolio after its dip over the last fortnight, the UK based bank is enjoying an improving capital position which should lead to a return of dividends. This is one of the cheapest banks globally trading on just 0.6x book value compared to our own sector around 1.3x and Europe’s closer to 1x -  CBA...

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Virgin Money-CDI (VUK) $4.05

UK faced bank VUK has soared following its COVID plunge, we like the company and its relative valuation but feel the risk / reward is only average in the $4 region.

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The Banking Sector

Secondly, as previously flagged MM has been watching UK based bank Virgin Money (VUK) into recent weakness i.e. over the last month NAB has rallied 1.5% while VUK has fallen 5%, not spectacular but still a useful performance differential if compounded over the year. MM has moved underweight the Banking Sector holding just 5% in CBA and NAB respectively...

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Virgin Money (VUK) $3.91

We mentioned VUK yesterday, this UK bank appeals to MM because it affords us exposure to 2 themes we like – a rising bond yield environment and strong economic recovery in Europe. As witnessed yesterday as it dropped almost 8% in just one session this is a volatile stock and our position size will subsequently be smaller than with the likes of CBA and NAB, a repeat performance of yesterday’s unwind and this stock will be in MM’s buy zone.

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Virgin Money (VUK) $3.91

VUK appeals to MM because it affords us exposure to 2 themes we like – a rising bond yield environment and strong economic recovery in Europe. The current risk / reward isn’t particularly exciting around $4 but with VUK and September traditionally volatile its one for the hitlist if we do see a brief return of volatility a distant memory in 2021.

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Virgin Money-CDI (VUK) $3.64

UK based bank VUK has bounced nicely after correcting 15%, similar to CSR we are now targeting fresh 2021 highs through the run into Christmas.

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Virgin Money (VUK) $3.41

MM moved underweight banks in recent months and the pullback we have been waiting for is unfolding nicely, our favourite 3 to add some diversity across the Growth portfolio are likely to require the underlying indices to reach our target areas but that feels increasingly likely at this stage:

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Virgin Money (VUK) $3.53

Last month MM moved underweight the banks as we felt euphoria towards the sector had become too heated as the macro backdropped changed.

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Virgin Money (VUK) $3.64

UK based VUK has been the best performing bank in 2021 rallying over 50% but it’s been coming off the boil since bond spreads started to contract following comments from the Fed.

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ACTION

VUK
UPDATED 06/10/2021 14:22
MM are buying VUK in the Flagship Growth Portfolio, allocating 4% around $3.73
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VUK
UPDATED 28/09/2021 11:17
MM is neutral / bullish VUK above $4
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VUK
UPDATED 17/09/2021 09:04
MM likes VUK around the $3.30 area
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VUK
UPDATED 13/09/2021 08:23
MM likes VUK around $3.25
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VUK
UPDATED 13/09/2021 08:20
MM likes VUK around $3.25
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VUK
UPDATED 29/07/2021 09:14
MM is bullish CSR targeting 15-20% upside
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VUK
UPDATED 21/07/2021 09:13
VUK
UPDATED 09/07/2021 16:28
VUK
UPDATED 02/07/2021 11:38
MM likes VUK ~7% lower
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VUK
UPDATED 24/06/2021 18:54
MM likes VUK around 8% lower
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Bank in the UK

Virgin Money UK (VUK) provides financial services within the United Kingdom. It is the combination of the NAB Clydesdale bank spin off and Virgin Money which merged in 2019.

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Virgin Money UK Plc (VUK)
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Virgin Money (VUK)
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Virgin Money-CDI (VUK)
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National Australia Bank (NAB) v Virgin Money UK (VUK)
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Virgin Money (VUK)
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Virgin Money (VUK)
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Virgin Money (VUK)
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Virgin Money (VUK)
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Virgin Money (VUK)
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Virgin Money (VUK)
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Virgin Money UK Plc (VUK)
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Virgin Money UK (VUK)
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Virgin Money (VUK)
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Virgin Money (VUK)
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Virgin Money (VUK)
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Virgin Money (VUK)
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Virgin Money (VUK)
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Virgin Money (VUK))
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Virgin Money UK PLC (VUK)
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Virgin Money UK (VUK)
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Virgin Money-CDO (VUK)
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Virgin UK (VUK)
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Virgin Money UK (VUK)
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