Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James, Wondering what you think of MNY. It seems to be back on a good growth trajectory based on its half year update and the share price is currently depressed. Directors buying and company just announced a buyback. Wondering if you think it's a buy around these current levels or are there macro headwinds I'm not appreciating?
Hi Josh,
Automotive finance business Money3 Corp Ltd (MNY) has fallen over 45% from its August 2021 high in an orderly but painful manner. The $478mn company announced a small $15mn / 12-month buyback earlier this month which has had little impact of the share price.
MNY looks good value ~$2.20 but we wouldn’t be fighting the tape too aggressively, it looks like an accumulate supported by an appetizing forecasted 8.5% dividend over the coming 12-months.
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