DTG - Dart Group

DTG.L Dart Group

DTG has been on a lot of value investors radars, including kelpiecapital,  ExpectingValue, valuestockinquisition and valuehunter. Good find, guys. Did I miss anyone? Anyway, their write-ups are excellent, so I state things briefly:

Dart Group PLC is an aviation services and distribution company

It operates budget aviation services throughout Europe with Jet2, and is one of the largest distributors of fresh and chilled produce to wholesale and supermarkets.

At 71p, the market cap is £101m, PE 5.0, yield 1.9%, net cash £94m, PBV 0.63, price/free cashflow 2.2, if you can believe that. Analyst forecasts look OK, so there's not much to dislike on this one.The CEO owns £40m in shares - about 40%, and there was a very recent director (Mark Laurence) buy for £49k.

The beginning of January was a great time to buy, where the shares were around 62p, near a year low, and technically oversold. It was a fair bet that anyone buying at that point was making the right decision. So naturally I didn't buy any! I mustn't complain, though, January has seen the markets make a dash for trash generally, and fortunately the trash I owned was eagerly sought by the market.

DTG has been zooming along during the last week. It's looking overbought at the moment, although it's still very cheap on fundamentals. I wont be buying any, though, as I'm trying to kick the nasty trading habit I seem to have acquired. I own companies that I'm happy with anyway, so it's better if I don't hop around.

I had disposed of PTEC (Playtech) earlier this year, in order to top up on AFF (Afferro) and SHG (Shanta Gold). AFF has had a monster run this year. It is currently overbought, and the shares are falling off their peak of 83p to 74.15p now. If the shares fall below 66-68p, I plan to sell my BLT (BHP Billiton) shares and top up on AFF. We're at less than net cash even now, and I think AFF ought to give a magnified performance (for better or worse) over BLT.

I think I should treat myself to something with my recent VOD divvies. Thank you, Mr. Vodafone.