LAFDI market report - Friday 20th February

By Rupert Taylor on Friday 20 February 2015

Features

The LAFDI has delivered another week of impressive out-performance further adding to its recovery after a lackluster start to the year.        Weekly return

LAFDI

3.25%

MSCI World

1.18%

Top 5 performing Stocks in last week

1

TAXI US Equity

10.21%

2

RM US Equity

9.65%

3

XOOM US Equity

9.58%

4

MONI LN Equity

8.98%

5

EPO LN Equity

6.53%

Worst 5 performing Stocks in last week

1

NEWS US Equity

-6.59%

2

CACC US Equity

-1.21%

3

PFSI US Equity

-0.51%

4

WEX US Equity

-0.47%

5

TBDY SS Equity

0.00%

  * Returns are calculated for the week to local market close on Thursday

Medallion Financial Corp reacted spectacularly to what appeared to be a disappointing set of quarterly numbers.  The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.29 by $0.19.  The shares have been under pressure over the last 18-months as the market has attempted to discount the structural threat posed by Uber.  It could be that expectations were low enough to allow the shares to rally notwithstanding the miss to formal consensus.  Equally the company confirmed its quarterly dividend payment which would suggest that the shares are currently yielding over 9%.  The shares now stand up over 10% on the week. 

Regional Management Corp is another stock that has endured a tough couple of years.  Whilst there was a supportive broker initiation on the 11th of February there were no obvious catalysts this week.  That said there was evidence both of a recent sale by a major shareholder and a significant outstanding short interest.  It could be that the removal of this selling over-hang has prompted some of the shorts to cover. 

The volatility of mobile money company Monitise has featured heavily in these reports in recent weeks.  The shares were up significantly this week as the market began to believe that a buyer might be found after the company publicly put itself up for sale at its recent disastrous full year results.  Commentary over the week was associating Santander as a possible buyer. 

Please note –           The LAFDI is now available on Bloomberg.  Tickers:

LAFDITR GO for the Total Return Index

LAFDIPR GO for the Price Return Index

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