I did not mean the SP hasn't increased through the buy back periods merely that it looks to me that their broker Taylor Collison is working with a target of 20% of the daily volume on average. If the intention is to really purchase 10% of shares outstanding then they could wipe the seller line each day which would have a much more dramatic effect on the SP.
The buy back has contributed to the SP increase but its not the only factor. ASX is up over 9% the last 6 months and the underlying business of CAA has performed.
I agree liquidity is poor and the consolidation seemed over done. I also don't see how they can buy back significant stock or enough for it to be a primary means of distributing surplus cash. Excluding a significant acquisition they will have to maintain a dividend. Unfranked won't bother me at all as I am not an Australian tax resident.
I did not mean the SP hasn't increased through the buy back...
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Last
$9.29 |
Change
-0.060(0.64%) |
Mkt cap ! $161.1M | |||
| Open | High | Low | Value | Volume |
| $9.40 | $9.45 | $9.25 | $125.8K | 13.41K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 989 | $9.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $9.48 | 600 | 1 |
View Market Depth
| Last trade - 15.59pm 05/07/2024 (20 minute delay) ? |
| CAA (ASX) Chart |