Yes I have not taken into account the buyback, but it looks like they have bought back ~3.6m shares which is ~2.5% of shares which is not significant.....perhaps if they get to the full ~$125m then it may be closer to ~5-6%.
I also think that at this price it represents good value if you are going to hold it for at least 3 years because that allows some of these noise (on offs) to come out of the numbers and also the travel industry and the business travel market returns to a more steady state.....the industry will always be cyclical and dependent on local/regonal issues along with business sentiment, but given their diversity now, I suspect in 2-3 yrs time they can deal with that much better.
The issue is that many holders seem to want to see results immediately, which I don't think will be the case for CTM....some more headwinds to deal with in the short medium term, but a decent company with good prospects over the >3 yr period
CTD Price at posting:
$11.68 Sentiment: Hold Disclosure: Held
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