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HCG.T - Home capital Group

  • Last Updated:
  • Nov 21st, 2017 1:56 pm
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Jr. Member
Jan 5, 2012
133 posts
11 upvotes
I am holding 150@21.82 in my TFSA, didn't dare to average downFace With Tears Of Joy. Should I do it now? I am wondering how's everyone's position with this stock.
Member
Jun 19, 2009
341 posts
71 upvotes
Ottawa
Got 300 @ 9.75 today...think I'm gonna hold it
Deal Fanatic
Jan 27, 2006
6486 posts
1683 upvotes
Vancouver, BC
rivermornings wrote:
May 11th, 2017 6:03 pm
I am holding 150@21.82 in my TFSA, didn't dare to average downFace With Tears Of Joy. Should I do it now? I am wondering how's everyone's position with this stock.
The quick money is probably done once we get their last quarters numbers and the market moves through it. If you see the market react poorly tomorrow to the numbers (or the lack of the release of the numbers), it might be a good opportunity to average down. However, a lot of high end investors (not necessarily in HCG), never average down as they say it's a sure way to loose more money.
Member
Aug 26, 2009
413 posts
54 upvotes
Toronto
fogetmylogin wrote:
May 11th, 2017 2:51 pm
Did you cover at the low or still short?
I covered majority of my position at the avg price of $7.xx.
Member
Aug 26, 2009
413 posts
54 upvotes
Toronto
charliebrown wrote:
May 11th, 2017 8:06 pm
Results are out (no earth shattering news) http://www.newswire.ca/news-releases/ho ... 52403.html
Just skimmed through the release. There are some comments on the funding issues in the future and ability to stay as a going concern. Also, HOOP secured 5.4B of loans and not 4B as reported earlier.
So far I feel like I'm going to short some tomorrow. Will decide once I finish the entire report.
Sr. Member
User avatar
Apr 23, 2009
799 posts
121 upvotes
jainik18 wrote:
May 11th, 2017 8:22 pm
Just skimmed through the release. There are some comments on the funding issues in the future and ability to stay as a going concern. Also, HOOP secured 5.4B of loans and not 4B as reported earlier.
So far I feel like I'm going to short some tomorrow. Will decide once I finish the entire report.
So are you going to be short on HCG again?
Deal Expert
User avatar
Sep 19, 2004
20319 posts
3097 upvotes
Waterloo
TD Flash Note on HCG

Recommendation: SPEC BUY
Risk: SPECULATIVE
12-Month Target Price: C$15.00
12-Month Dividend (Est.): C$0.00
12-Month Total Return: 38.8%

Event
Full Q1/17 results released (company pre-released results on April 21).
Impact: NEUTRAL

The company acknowledges there is material uncertainty regarding its future
funding capabilities and ability to continue as a going concern. However, it
outlined some key assumptions behind its plan to return to normal operations (and
protect its single-family mortgage business).

Key management assumptions:
■ Originating new GICs at reduced volumes (based on recent actual volumes).
This would ramp-up slowly through the year and into 2018. There is no new HISA
demand deposits and maturing term deposits (GICs) will run-off.
■ Sale of certain loan portfolios to pay down the $2 billion HOOPP credit line.
Media is suggesting some PE firms are interested, while other pension funds could
also provide an alternative loan facility.
■ Existing mortgage commitments and renewals will be funded. New renewals
and originations would be managed according to new deposit originations.
Actions to execute the company's plan (and our opinion of likelihood):
■ Significant spend on a deposit marketing campaign throughout 2017 and
adjusting GIC rates to ramp-up the deposit base. Commitment and renewal
pipeline would be managed accordingly (Uncertain).
■ The potential sale of certain loan portfolios (Likely).
■ Secure agreements with industry partners to fund existing commitments and
renewals (Done, further deals are possible).
■ Consideration of additional funding models like 'originate to sell' (Possible).
■ Engage external advisors to evaluate financing and strategic options (Done).
■ The addition of four new directors to the board (Done). Search for a new CEO
and CFO (Underway).

Q1/17 data points (see Exhibit 1).
■ Originations were strong at $2.3bln (up 32% y/y, with non-prime residential
volumes up 44% y/y). Mortgages under administration of $27.2bln up 8% y/y.
■ Provision for credit losses was 0.16% of uninsured loans (annualized). This
was up from 0.07% q/q and 0.04% y/y. However, this was largely related to the
credit card and commercial businesses. Single family provisions and write-offs
were negligible (0.0% and 0.1% of gross loans).
■ CET1 ratio was 16.3%. Tangible book value per share is $24.10.
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Deal Fanatic
Apr 11, 2012
5002 posts
1959 upvotes
Winnipeg
ruchir wrote:
May 12th, 2017 8:01 am
So are you going to be short on HCG again?
He/she is ''The Big Short''
Deal Expert
User avatar
Sep 19, 2004
20319 posts
3097 upvotes
Waterloo
White Comet wrote:
May 12th, 2017 9:33 am
Home Cap down 20% lol, this wild roller coaster ride is still ongoing
Can't win either way with algos/prof. traders
now -5%, $10.23-$8.7 so far
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AMEX Personal 60K || Business Platinum 75K || Biz Gold 40K || SPG 25K
Member
Aug 26, 2009
413 posts
54 upvotes
Toronto
ruchir wrote:
May 12th, 2017 8:01 am
So are you going to be short on HCG again?
Yes, Shorted some at 10.30
Sr. Member
User avatar
Apr 23, 2009
799 posts
121 upvotes
jainik18 wrote:
May 11th, 2017 8:22 pm
Just skimmed through the release. There are some comments on the funding issues in the future and ability to stay as a going concern. Also, HOOP secured 5.4B of loans and not 4B as reported earlier.
So far I feel like I'm going to short some tomorrow. Will decide once I finish the entire report.
Once bitten, twice shy!!! They got caught badly last time by not disclosing it and now they are perhaps overdoing it.
Deal Fanatic
Jan 27, 2006
6486 posts
1683 upvotes
Vancouver, BC
ruchir wrote:
May 12th, 2017 12:31 pm
Once bitten, twice shy!!! They got caught badly last time by not disclosing it and now they are perhaps overdoing it.
I look at it as stating the obvious on that one.

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