CLH released an announcement this morning stating that there had been improved PDL purchases over the quarter to March. This is in line with a similar recent update to PNC when they performed a capital raising to fund more PDL purchases.
So there may have been an element of sell CCP buy CLH in play today.
Mike King (one of the few commentators on the public Motley Fool site worth reading) speculates that since CCP's PDL ledger has been increasing at a faster % rate than it's competitors during previous times, then it is possible that they have been overpaying for PDL's. This may / may not be true, however it is worth noting that CCP has stated that some of this increase has been PDL's purchased in the United States, which is a market it's ASX listed competitors do not participate in. One can only speculate (which I'm sure there will be more of!) what is correct at the moment, and hope that CCP's superior of RIOC over it's ASX listed competitors over the past 5 years continues. http://www.**promotion blocked**.au/2016/04/26/collection-house-share-price-jumps/
Here's when CCP has made a market update around this time over previous years:
2013 - 16/5
2014 - 21/5
2015 - 30/4
So there could be a wait of another few weeks, unless last year has set the new precedent on when to make an update.
CCP Price at posting:
$9.79 Sentiment: Hold 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)