2CC - 2 Cheap Cars Group

[Habits]

The seller was the 8th largest shareholder.He is a Christchurch investor, who has a lot of large holdings in a number of small cap companies.He invests in his own name, as well as two finance companies he owns.This holding was in one of his finance company's name.
I am now guessing he sold via a Christchurch broker to another Christchurch investor, who also invests in small cap companies.
I expect we will know the new owner's name when 2CC's annual report comes out in June.

How easy/difficult is it to divest a large holding in a small cap company. Where your holding far exceeds the amounts normally traded. PS I dont have that kind of lucky problem

[nztx]

The seller was the 8th largest shareholder.He is a Christchurch investor, who has a lot of large holdings in a number of small cap companies.He invests in his own name, as well as two finance companies he owns.This holding was in one of his finance company's name.
I am now guessing he sold via a Christchurch broker to another Christchurch investor, who also invests in small cap companies.
I expect we will know the new owner's name when 2CC's annual report comes out in June.

Might be "Was" .. if you're referring to the one I think - looks like he may have passed away recently. Shareholding changes in his holding company too

[percy]

Might be "Was" .. if you're referring to the one I think - looks like he may have passed away recently. Shareholding changes in his holding company too

Thank you nztx.
I missed his death notice.

[percy]

From Autotalk.
Despite the challenges of fewer selling days due to public holidays and school breaks, the surge in registrations of imported used passenger vehicles by 10% in April 2024, reaching 8731 units, is a significant trend to note.

This figure marks a notable increase from the 7939 units registered in April 2023.
Positive for 2CC.

[NZSilver]

Handy info thanks Percy. Glad I'm topped up.

[NZSilver]

Is it just me or is this great buying at these levels?? Wait it is just me, no one else seems to be buying.... something on the horizon or just general worry around recession and car sales dropping. Or the recent management changes? 10%+ yield for the upcoming div alone

[percy]

Is it just me or is this great buying at these levels?? Wait it is just me, no one else seems to be buying.... something on the horizon or just general worry around recession and car sales dropping. Or the recent management changes? 10%+ yield for the upcoming div alone

If you compare 2CC's chart with TRA's you can see 2CC have held up better than TRA,.
I too have been adding a few..lol
Cash of $6mil at the interim,no debt,and their cars being in the right price range,makes 2CC a great buy for me at current prices,as they did say this about the next divie. “A decision regarding dividends will be made by the board when full year results are approved. Provided the market remains stable, the strong performance to date indicates that a dividend at the highest end of the policy range is likely,” .
David Sena taking over as CEO. ? Well he has the most at stake.

[silverblizzard888]

Is it just me or is this great buying at these levels?? Wait it is just me, no one else seems to be buying.... something on the horizon or just general worry around recession and car sales dropping. Or the recent management changes? 10%+ yield for the upcoming div alone

A lot of stocks are being sold down lately, looks like a pull back by investors that need their cash. 2CC cars look like they are in a fine situation and should be able to weather a recession since they do offer the best price point during hard times. Under Sena there should be an emphasis on extra growth.

[NZSilver]

Thanks for the info. Always get a bit nervous when things drop but also quite illiquid. So I have been topping up. Results due relatively soon so they will make interesting reading

[NZSilver]

What's the final div going to be ? 8.5-9c per share?