The stated NTA BEFORE Tax in Feb 21 was $1.67. The SP of WMI has powered ahead lately cum a 4c a share FFR dividend. The SP today is $2.16, which amounts to a 29% premium to last months NTA before tax. This is heady territory and a VERY significant premium to NTA given that even if the SP drops 5-6 cents Ex dividend, at today’s prices it will still trade at a 25% premium to NTA.
Now there is no argument that WMI is not a well run fund, but Geoff Wilson is well known as a canny buyer of value, liking to buy a dollar for 80 cents. Notwithstanding that WMI MAY have had a good March and that the NTA is likely to have risen, there doesn’t seem to be much evidence against the fact that WMI seems to be significantly overvalued on SP. I suspect that Geoff would definitely not be a buyer at today’s prices and can’t help wondering that IF one was to trim ones holdings, whether we would get a chance to buy in at a lower price.
There seems to be an awful lot of optimism built into today’s SP !
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$1.57 |
Change
0.035(2.28%) |
Mkt cap ! $434.6M |
Open | High | Low | Value | Volume |
$1.54 | $1.57 | $1.54 | $164.9K | 106.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | $1.56 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.57 | 2500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | 1.560 |
2 | 4769 | 1.550 |
2 | 10000 | 1.545 |
2 | 26000 | 1.540 |
3 | 24789 | 1.535 |
Price($) | Vol. | No. |
---|---|---|
1.565 | 2500 | 1 |
1.570 | 10000 | 1 |
1.575 | 43009 | 3 |
1.580 | 108358 | 4 |
1.585 | 2659 | 1 |
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