HMY - Harmoney Corp Limited

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Originally Posted by KJMLimited

The ROIC Heartland lends to Harmoney is unreal. Far better than reverse mortgages.

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They can still lend to them without having ~$20m tied up in shares?

Yep I understand they are supporting the lending book with debt alongside the equity of course.

All numbers looking good latest quarter

The chart in announcement looks impressive

http://nzx-prod-s7fsd7f98s.s3-websit...506/344004.pdf

Looks really good. Just a question of valuation now.

If they write $1b a year in Aus probably worth $500m-$600m market cap

Just had a re-read of the recent announcement because I like this company and want to invest.. however noted that total loan originations for the group only increased 4% from Q2 to Q3. 4%??? Really?? Run rate is too slow!

NB. The company notes that Q2 is a peak qrt (presumable because it includes Nov/Dec i.e. Christmas months and holiday months so lots of loans for gifts, holidays, jet skies w/e). Still needs to be better than 4% qrt on qrt growth.

The book is $485m. Was sitting at $499m in FY20. So they still havnt recovered from turning the tap off during covid- a terrible move as it turned.

That graph they put up looks good and hence why it is on page 1 but the numbers are still average imo. These consumer loans roll off very quickly and need to be replaced at a ever increasing rate if you want to grow the book.

No wonder the SP is starting to look sick again with no more support in the $2.20's.
The SP will be at Beagle's $1 fair value soon enough unless they start to write decent volumes.

HMY broke under $2.20 today and on big volume of $2.7m!! A good days turnover is usually $100k..

VWAP is $2.05 so I am assuming it was a off market trade at this low level? Does anybody have any insight on this?

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Originally Posted by Rawz

HMY broke under $2.20 today and on big volume of $2.7m!! A good days turnover is usually $100k..

VWAP is $2.05 so I am assuming it was a off market trade at this low level? Does anybody have any insight on this?

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There are some small institutes selling off from IPO date and thus the SP keeps falling. I guess it is close to the end of sell off cycle based on the total shares they intend to sell. NZ herald premium has one article about the sell off before.

HMY narrowly meets expectations recently but not see any exceeding yet.

One billion Australian loan a year ambition, but just 10 million last month with the new platform launch, a big gap to catch up. It needs to show significant new loan acceleration month by month from now on to prove it can scale quickly in volume to meet its ambition.

It still has bright future but just need more proof on healthy growth (with good debt control).

It is a high risk IT growth stock, it is in high risk finance industry, it is an IPO stock with less than 1 year listing company experience. High risk means high return also.

My expectations for 1 year - down up to 20%, up 100% to 200% potential. A good bet at current SP.

Jeez down heaps today and just over 180

About 50% down from IPO price last November

Obviously unloved and unwanted

Will it stay this way forever?

Heartland said this today ..shouldn’t caused any panic

Harmoney’s transition of its funding model from a peer-to-peer off-balance sheet model to wholesale securitised on-balance sheet funding via warehouse structures is well advanced, and the transition of Heartland’s facilities with Harmoney is progressing well.