PLUS500 Group Plc (PLUS) – Take Profits
PLUS was added to Venture last December and has performed well.
PLUS500 Group
The investment case was based around a low valuation with strong cash flow, dividends and buybacks. The shares had been depressed, but that is no longer the case. PLUS is now much closer to the analysts’ fair value, 2848p, having previously been heavily discounted. I sense that with stockmarkets feeling more challenged than a year ago, combined with the hot war in Israel, their head office, this is a sensible time to take profits.
I have decided to exit the position at 2,470p. The purchase price was 1,611p on 11 December 2023. With 107.2p of dividends, the profit is 71.7%, and the IRR is 95%.
Please let me know your thoughts by emailing me at venture@bytetree.com or tweeting me @AtlasPulse.
Many thanks,
Charlie Morris
Editor, Venture
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