Discl: Held IRL 2.21% and in SM
Dad Gary and Son Stephen sold down another 44% of the shares they both intended to sell last, 210,194 shares averaging $0.985 and $0.973, respectively.
Another 12.2% or 58,340 shares left to go.
Price continues to be impacted, but volume has tapered off. The $0.93 level is just above the 200 SMA’s $0.91 and near the 61.8% retracement of $0.895, so nice downside technical support at these levels ... Time for one last bite in the next day or so, me thinks, as this looks to be wrapped up soon, unless both back off from selling, to let the price float upwards before selling the last lot at higher levels ...
Discl: Held IR 1.44% and in SM
Continue to track closely, the ongoing sales of RTH Directors, Gary Crispe (Co-Founder) and Stephen Crispe CEO - another Sale Tranche occured in the last week, as announced yesterday.
As of yesterday:
- 37.3% of the flagged volume to sell has been sold, 62.7% or 268,534 shares remaining to sell
- Given the $1.02x price and remaining shares, it looks like the RTH price will be capped at these levels until this block is cleared - the spikes in trading volume are quite noticeable
- Feels like young Stephen is in a bit of a rush to raise cash, old man Gary is playing it a bit more cool ...
I want their shares, but at as low a price possible! As the recent sharp fall in price is really going against much improved business fundamentals, this window is still looking to be my best shot at getting to my target allocation of 2.5%. Once this volume is absorbed, I can't quite see any reason for the price to stay at this levels.
Am probably not going to get greedy, and will wrap up my top up in the next week or so.
All bets are off (pun intended), if there is a positive announcement in the meantime ...!
Discl: Held IRL 1.49% and in SM
The RTH price has been in a nice top up zone these past 2 days, and I took the opportunity to take 2 bites, yesterday at 1.03 and today at 1.00 as it fell below my watch 1.055 level. The price is now in my top up zone between the 38.2% (1.05) and 50% (0.97) retracement zones.
Buying in thirds, and given current volatility, saving some powder for a drop to ~0.905, which is where it should find 200 SMA support, and possibly into the 0.84 to 0.89 zone, where I will absolutely be backing up the truck to load up, if it gets to that level.
Other than pre-announced orderly Director selling, it has been good news all round, so for me, this price drop does not reflect the great RTH business fundamentals at all ...
Hard to know where to start with this one, so I’ll let the charts and graphics do most of the talking.
The FY25 results reinforce RTH’s trajectory as a fast-growing business since listing in mid-FY22. What stands out is that the top-line expansion has been almost entirely organic, with the only exception being around $1m of revenue and ARR contributed in FY25 from the Hong Kong publications acquisition.
At the same time, RTH has been investing heavily in the UK market and in building out its wagering technology segment. Both are now starting to hit their stride, contributing significantly to overall growth.
They’ve also reached the inflection point for profitability and free cash flow. The chart below probably does them a slight disservice, as I’ve stripped out the R&D grants, but it highlights the underlying trend more clearly.
And there are plenty of irons in the fire. The key ones are continued growth in Europe, further success in Wagering Technology, and the push into Hong Kong and Singapore following the recent acquisition.
With 80% gross margins and a 1.6x pro-forma EV/S multiple, there’s a lot to like.