ATM - A2 Milk Corporation Limited

[Baa_Baa]

http://nzx-prod-s7fsd7f98s.s3-websit...050/353347.pdf

Long and wrong.

So it’s the Vanguard Group who had been buying A2M shares large.

Now, will they keep buying to average down their cost?

Is it how one interprets 'in-specie', i.e. that could be equivalent to an outright Sell, or it could be a transfer to some other Vanguard owned fund?

The Net for the period notified is:

-20,833,823 shares

	Shares	Value
Buy	2,139,378	$ 13,986,195.28
Sell	(172,403)	$ (1,106,595.04)
In-Specie	(22,800,798)	$ (141,747,169.65)

[GTM 3442]

http://nzx-prod-s7fsd7f98s.s3-websit...050/353347.pdf

Long and wrong.

So it’s the Vanguard Group who had been buying A2M shares large.

Now, will they keep buying to average down their cost?

Well they started buying in late April at somewhere north of $7.50. The last notified purchase was a few days back at about $6.50.

So it looks like they've been averaging down for a few months now.

I'm almost tempted to work out their average cost, just for the fun of it

[Balance]

Is it how one interprets 'in-specie', i.e. that could be equivalent to an outright Sell, or it could be a transfer to some other Vanguard owned fund?

The Net for the period notified is:

-20,833,823 shares

	Shares	Value
Buy	2,139,378	$ 13,986,195.28
Sell	(172,403)	$ (1,106,595.04)
In-Specie	(22,800,798)	$ (141,747,169.65)

'In-specie' is transfer within Vanguard entities.

She's a big one is Vanguard - US$7 trillion of funds under management! A lot FUM via passive ETF.

[Baa_Baa]

Well they started buying in late April at somewhere north of $7.50. The last notified purchase was a few days back at about $6.50.

So it looks like they've been averaging down for a few months now.

I'm almost tempted to work out their average cost, just for the fun of it

The Average of the share prices are:

Buy	$ 6.57
Sell	$ 6.73
In-Specie	$ 6.00

[alokdhir]

http://nzx-prod-s7fsd7f98s.s3-websit...050/353347.pdf

Long and wrong.

So it’s the Vanguard Group who had been buying A2M shares large.

Now, will they keep buying to average down their cost?

Vanguard as u know is Index funds specialist ...they didn't have any choice but to buy as inflow in their funds increased

[Balance]

A2M Closed A$6.05.
Spot on..Well done Balance
Can I borrow your crystal ball..

I see NZX is eagerly waiting for A2M to start trading on ASX - low volume (as usual) and hesitant trading.

Well, I talked to a broker who's rather miffed that their analyst has not done a proper update yet as the company has not provided any earnings guidance this time round.

All the analysts are in the same boat so it is going to be fascinating to find out over the course of today what their updated earning forecasts are going to be.

One thing for sure is that the bullish brokers like Bell Porter (actual results yesterday were way below their expectations) are going to have to justify to their clients why they were so far out. The bearish brokers like Citibank have been vindicated so are going to turn even more negative.

My pick is that we will see another down day and share price will close near to A$5.65.

[flyinglizard]

I see NZX is eagerly waiting for A2M to start trading on ASX - low volume (as usual) and hesitant trading.

Well, I talked to a broker who's rather miffed that their analyst has not done a proper update yet as the company has not provided any earnings guidance this time round.

All the analysts are in the same boat so it is going to be fascinating to find out over the course of today what their updated earning forecasts are going to be.

One thing for sure is that the bullish brokers like Bell Porter (actual results yesterday were way below their expectations) are going to have to justify to their clients why they were so far out. The bearish brokers like Citibank have been vindicated so are going to turn even more negative.

My pick is that we will see another down day and share price will close near to A$5.65.

Ha, brokers are waiting for other brokers to release updated valuation report. Who is the first one? They are at the same boat as the company management, NO IDEA for the company future! Maybe a decent drop to $3.xx will give all participants some safety margin.

[Balance]

Ha, brokers are waiting for other brokers to release updated valuation report. Who is the first one? They are at the same boat as the company management, NO IDEA for the company future! Maybe a decent drop to $3.xx will give all participants some safety margin.

$3.XX is where it is heading in the absence of corporate activity.

ATM is not a growth stock any more - that story is over for now.

[Ferg]

Well, I talked to a broker who's rather miffed that their analyst has not done a proper update yet as the company has not provided any earnings guidance this time round.

Maybe they should do their own work for once? Or maybe hire people with experience?

If we here at ST are capable of banging together a forecast, surely they can too given the extra information they have had over the years?

[Balance]

Maybe they should do their own work for once? Or maybe hire people with experience?

If we here at ST are capable of banging together a forecast, surely they can too given the extra information they have had over the years?

Agree with you but ….

…. that’s not how the industry works.

The analysts love companies which spoon-feed them with information and the fund managers love analysts who are closest to the companies - not best analytical skill.

The system works well until a company blows itself up. ATM is a classic case.