MET - Metlifecare - one for the fundies?

[Cyclical]

Biting a big chunk out of those arbitrage boys is such a compelling thing, only worry is they bite me back and smack it back to under $3. Risk and reward looks pretty good at half price I have to say as I'd go again at under $3 anyway.

Yeah, that was and still remains my thinking. Even contemplated banking some of today's gains already, but that would probably be silly...I'm still emotionally scared from offloading some OCA too early a couple of weeks ago...

When it's raining gold... Just wish I had a bigger bucket.

[King1212]

No.no..no....depression ... recession...that all u guys saying...put your money at term deposit....2.1%

Leave the share market to the brave one....

[Cyclical]

Seeing the odd $.5m parcel going through at 350...what do we read into that? Manipulation to keep it there while the big boys off load?

[JeremyALD]

I'm not even a fan of MET, but even I picked up some today. The price just seemed too low for a long term hold. There's also a very off chance they could still be sold for $7. Worth the risk at this point imo, however not a large conviction purchase.

[Beagle]

I promised myself I would stay in my very well insulated and extremely well padded kennel until this storm has passed but when Winner's teddy bear and (I swear I could hear my last dog Basil who died late last year whisper telepathically to me that this would be a good food supply for my next dog, hopefully a Beagle) say its great value long term at half NTA I was powerless to resist.

Just recycled the excellent profits from my last (~$4.40 to ~$6.90 foray) back into this so just a free ride at this stage but if those arbitrage boys want to beat it down to about $3...in the memorable words of Clint Eastwood..."Make my day"...I'm ready to go again

Gearing is the lowest in the sector at just 16% as at 31 December 2019 and they can easily slow down their development pipeline to suit changing market circumstances so buying at half NTA looks too compelling to resist. Perhaps the company will reinitiate its buy back program (which they only got a small way through) in due course again ?
Why build new units when you can buy existing ones through a buy back for half price ?

Their balance sheet is the strongest in the sector and their cash flow is also very good http://nzx-prod-s7fsd7f98s.s3-websit...968/317506.pdf

Well done to those that got in near the bottom today.

[Joshuatree]

18.5 mill shares through , s/p steady in arvo @ $3.51.

[Arbroath]

I'm not even a fan of MET, but even I picked up some today. The price just seemed too low for a long term hold. There's also a very off chance they could still be sold for $7. Worth the risk at this point imo, however not a large conviction purchase.

Im in the same boat. Never owned MET before as it's just been a little underwhelming and had historical issues etc. But at $3.30 I've bought a few. It is financially sound as Beagle points out with sector low gearing and just too cheap against NTA. Even if post virus NTA is trimmed 10-15% which I think is possible it's still selling for about 60% of a reduced NTA with multiple parties wanting to have bought it only a few months ago. A renewed bid around $6.00 could well succeed later this year but the BOard should insist on an unconditional offer after allowing confidential due diligence beforehand.

[Cyclical]

Guys, help me here... So how is it for example that we have depth of ~100k offers at say $3.51 and the other side we have ~100k bids at say $3.50 and then along comes a trade of 150k+ shares and yet it seems to have no impact on the visible market depth or price? Is that the brokers dealing direct with the institutions without the trade actually hitting the market per se? Thanks

[Beagle]

Guys, help me here... So how is it for example that we have depth of ~100k offers at say $3.51 and the other side we have ~100k bids at say $3.50 and then along comes a trade of 150k+ shares and yet it seems to have no impact on the visible market depth or price? Is that the brokers dealing direct with the institutions without the trade actually hitting the market per se? Thanks

Bigger parcels are often crossed in house, (brokers really love clipping both ends of the same ticket), as a special parcel or between broker houses. (SP after the trade volume denotes special parcel)

[Balance]

Guys, help me here... So how is it for example that we have depth of ~100k offers at say $3.51 and the other side we have ~100k bids at say $3.50 and then along comes a trade of 150k+ shares and yet it seems to have no impact on the visible market depth or price? Is that the brokers dealing direct with the institutions without the trade actually hitting the market per se? Thanks

It’s a crossing - done by the same broker, one client to another.