Merchant has not changed it's outlook on RAC. Every time there is a significant percentage jump in share price, they write to their clients telling them so, and that they may consider taking some profits. It's happened several times in the last 10 months.
The timing of Andrew's HC comment vs Merchant's first off load is a little unfortunate, but it was always going to happen. It would be reckless of a fund not to de-risk on such monumental jumps. Balancing profits vs safety for clients is their job, whereas we retailers answer only to ourselves.
Merchant are far from exiting RAC, and now they've de-risked will definitely hold a large percentage of what they still have, long.
Ann: Change in substantial holding, page-26
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$1.83 |
Change
-0.030(1.61%) |
Mkt cap ! $311.7M | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.91 | $1.79 | $169.3K | 92.02K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 92 | $1.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.87 | 3472 | 1 |
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