In saying that management timed those buy-backs perfectly. Some of the best include:
200,000 units @ $3.9153 --> Total: $783,060
75,000 units @ $3.7822 --> Total: $283,665
50,000 units @ $3.7590 --> Total: $187,950
52,617 units @ $3.0882 --> Total: $162,491
That last purchase of 52,716 units @ $3.0882 was almost perfectly timed to the bottom. It was very lucky but it shows management's mentality is in the right place regarding bang for buck.
I also applaud them for issuing bonds rather than stock to raise capital majority of the time. Combine this with share buy-backs you can see where this company is going. They off-load under-performing assets, and aren't ashamed to take a loss here of there, which I personally support.
I'm anticipating some serious earnings impacts due to COVID-19 regarding Wellington Airport, however, majority of our portfolio is basically essential services, with defensive earnings and strong competitive advantages.
I look forward to the years ahead.
Cheers,
Dalto24
IFT Price at posting:
$4.23 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)