(10-11-2014, 04:49 PM)Dividend Hermit Wrote: [ -> ] (10-11-2014, 04:16 PM)gzbkel Wrote: [ -> ]^^ I experience this sometimes myself when buying other stocks.
My guess is that a big fund wants to sell a big block, but they do not want to sell everything in one shot and cause a crash, so they program their trading computer to sell 1 lot at a time at fixed interval.
Is there some other reason for this practice?
That could be the reason. Another reason is that they want to know who is on the other side of the trade.
P/S: After averaging down for the past few weeks, I have decided to reduce my holding (and take profits) in Penguin which previously constitutes 60% of my portfolio.
(Still Vested)
Like you, Penguin is currently my largest % in my portfolio. But I also agree with your approach and I'll too be taking profits (albeit in small amounts) along the way. There are always unknown known/unknowns to be cautious against.
(10-11-2014, 09:35 PM)Tiggerbee Wrote: [ -> ]Not sure about the local funds but the biggest Ang Moh institution vested in Penguin is DFA with over 3M shares (from Morningstar).
Name Shares Held
DFA Asia Pacific Small Company Series 1,320,000
DFA International Small Cap Value Portfolio 847,250
DFA International Core Equity Portfolio 743,000
DFA TA World (ex-US) Core Equity Portfolio 125,000
DFA International Vector Equity Portfolio 78,000
Metropolitan Series - Met/Dimensional Intl. 69,000
Wow, 60% is a lot! I started on Penguin recently and only nibbled a little bit; too bad I didn't add when it was down to 21 cents, but today I had to change my buy order 3 times as the price was climbing like crazy in the first hour after market opened. I am planning to go long on this company. Do you think that this business has a moat against its competitors? The 6 months turnaround build cycle doesn't look very convincing to me. Can fellow Value Buddies share if you see something more substantive in its business model? (vested)
Just a thought for those with heavy investment.. Penguin fortunes is still linked closely to the O&G industry. One can say it is outperforming peers but do consider the likely downturn for next few years at least.
The dfa vestment looks interesting.. Will take a look what other components they include. Thanks Tiggerbee for the sharing.
I am fundamentally long on this and should be holding till fundamentals change. Good luck to all vested.
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Nam Cheong just posted a set of impressive 3Q P&L numbers….
http://infopub.sgx.com/FileOpen/NCL-3QAn...eID=323781
but its B/S has been increasingly geared up!
Based on its last done share price of $0.41, Nam Cheong is being valued by Mr Market at approx. 1.9x its latest (30Sep14) NAV/share at MYR0.553 (approx. $0.214).
Between Nam Cheong and Penguin, if taking out the consideration of size, I suppose it is quite clear which is a safer and better investment bet.
(10-11-2014, 10:31 PM)sykn Wrote: [ -> ]Wow, 60% is a lot! I started on Penguin recently and only nibbled a little bit; too bad I didn't add when it was down to 21 cents, but today I had to change my buy order 3 times as the price was climbing like crazy in the first hour after market opened. I am planning to go long on this company. Do you think that this business has a moat against its competitors? The 6 months turnaround build cycle doesn't look very convincing to me. Can fellow Value Buddies share if you see something more substantive in its business model? (vested)
You should be able to get some if not all answers from previous posts of this thread.
Why the 6 months build-cycle not convincing? BTW, the 6 months is only for the flagship product, rather than overall average, as stated in the AR.
(vested)
(11-11-2014, 12:09 AM)thor666 Wrote: [ -> ]Just a thought for those with heavy investment.. Penguin fortunes is still linked closely to the O&G industry. One can say it is outperforming peers but do consider the likely downturn for next few years at least.
Penguin fortunes is partially linked to O&M sector. I am still not able to figure out the percentage of business in the sector, but I really doubt it is outsized.
One important point to note is, the product of Penguin is not customized for O&M sector, but general enough for other purposes. This is another advantage vs the OSV builders.
The outlook commentary from Nam Cheong announcement today deserves a closer scrutiny:
“Despite the recent volatile oil prices, the shallow water segment continues to be active given that 80% of offshore fields to be developed are in shallow water”
“The global OSV fleet is aging with over 30% of vessels being of traditional build and in operation for over 25 years”
“The demand for small size AHTS vessels remains strong….As one of the leading players in the construction of mid-size PSVs, we are able to benefit from the growing demands in this sector….”
I think all these positives are applicable to Penguin as well, which specialize is small/mid size crew boats and PSV. Not forgetting that Penguin’s boats are versatile. Besides supporting O&G operations, it can also be used as patrol boats, fire-fighting etc… So I guess the impact by the volatile O&G segment to Penguin will be somehow cushion a bit.
(11-11-2014, 09:46 AM)Ben Wrote: [ -> ]The outlook commentary from Nam Cheong announcement today deserves a closer scrutiny:
“Despite the recent volatile oil prices, the shallow water segment continues to be active given that 80% of offshore fields to be developed are in shallow water”
“The global OSV fleet is aging with over 30% of vessels being of traditional build and in operation for over 25 years”
“The demand for small size AHTS vessels remains strong….As one of the leading players in the construction of mid-size PSVs, we are able to benefit from the growing demands in this sector….”
I think all these positives are applicable to Penguin as well, which specialize is small/mid size crew boats and PSV. Not forgetting that Penguin’s boats are versatile. Besides supporting O&G operations, it can also be used as patrol boats, fire-fighting etc… So I guess the impact by the volatile O&G segment to Penguin will be somehow cushion a bit.
Looking at the video of Penguin's latest product, the speed, structure and the capabilities of the boats look impressive. With a speed of 25 to 30 knots, it would attract attention from the law enforcement and military agencies. I also noted that Penguin was able to install night vision capability in its boat.
Law enforcement and military agencies are areas where Penguin has not ventured into. In view of the increase tension in South China Sea and the desire of Phil, Indon and Vietnam to enhance their capabilities, Penguin should explore seriously into this area.