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$1.60 enero group limited

I hope private equity shows it to management, or at the very...

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peterdoobes

2,466 Posts.

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16/02/23

12:51

Post #: 66286283
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Originally posted by saintex: ↑

Yes, I came to the same conclusion also regarding the NPAT of OB Media.
So under my estimate, it is valued by the market now at less than 10 x NPAT.
That's really weird given OB Media's profile in term of growth and profitability.

1 of the good thing of this poor H1 results : it forced Enero's management to disclose more on OB Media.
Anyway, the growth of OB Media remain stunning compared to the internet ad market and the challenges of Google and Microsoft.
Despite this, OB Media mentions that they had a strong growth with both of their search partners, which apparently generated 38.6 m in H1 23 together.

I think that it is now quite easy to make a case that the sum of the parts is well above the EV for this company.
The problem may be how to show it with this management.
If I am not wrong, they were the ones who classified OB Media as a non core business at some point, while their last acquisitions (ROI DNA and Get it) look more and more as an overpriced acquisition at the top of the cycle.

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I hope private equity shows it to management, or at the very least the current insto holders start to agitate. It's not like existing management have much skin in the game

EGG Price at posting: $2.34 Sentiment: None Disclosure: Held
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Last $1.60		Change -0.010(0.62%)		Mkt cap ! $145.5M

Open	High	Low	Value	Volume
$1.61	$1.64	$1.58	$244.6K	152.6K

Buyers (Bids)

No.	Vol.	Price($)
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Price($)	Vol.	No.
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No.	Vol.	Price($)
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1	12856	1.555
3	22336	1.550
1	6000	1.540
1	6500	1.530

Price($)	Vol.	No.
1.640	3000	1
1.650	2710	1
1.730	2304	2
1.740	3000	1
1.750	2249	1

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Last $1.63			Change -0.010 ( 1.88 %)
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