Rule Change

Headlines say pension giants sound alarm over planned changes to the UK’s rules on stock market listings and all tips are a mix of 80% BUY, 13% HOLD and 7% SELL.

1. SELL Unbound

Top stock pick this week is Sell Unbound Group by Steve Moore in ShareProphets with a tip performance of 13%.

Unbound Group is a London purveyor of footwear for the over 55s. Its main subsidiary Hotter Shoes operates 17 stores and 10 concessions. On Monday, Hotter Shoes announced an emergency restructuring after putting itself up for sale in May as it couldn’t pay bills. On Tuesday, Hotter Shoes announced it was ending the formal sale process after it received no viable offers. In May, an offer of £10 million was withdrawn due to trading concerns, and other offers did not receive shareholder support.

For all intents and purposes, the graph looks like share holders are “likely fecked” as Moore puts it in his article. At 1.74p having dropped from the dizzying heights of 1479p just 6 years ago, things are not going well. Unbound Group share price first floated at 244p in 1993.

Reports say Unbound Group is now looking at an equity raise. Steve Moore is the only analyst in Stockomendation with a rating and there are no active short positions.

2. BUY Wise

Second top stock pick this week is BUY Wise Class A by Goldman Sachs with a tip performance of 5%.

Wise is enjoying boom time with shares up 16% (almost a fifth) on Tuesday due to rising interest rates, causing a profit spike. The cash it generates on customer deposits is the main source of profits which is up 300% in the year.

Wise share price floated at 965p in 2021 and today is at 641p. The international transfers bank also said it acquired 34% increase in customer numbers during the year.

All in all, it looks like things are on the up and up for the Estonian money transfer company!

Three out of five analysts in Stockomendation rate it as BUY – they are Goldman Sachs, Ben McPoland and Davy with Jefferies and Daniel Liberto rating HOLD and there are no active short positions.

3. BUY Hammerson

Third interesting top stock pick this week is LONG TERM BUY Hammerson by Alan Oscroft in The Motley Fool with a tip performance of 5%.

It’s a chequered past for this shopping centre owner that owns Birmingham Bullring, with COVID recovery taking longer than expected. Having enthusiastically divested massive chunks of its portfolio, Barclays looks like a key supporter having double upgraded its rating a few weeks ago, the only Buy rating at that stage.

Hammerson listed at 203p way back in 1988, reached 540p in 2007 and is now at 25p.

Mixed opinions in Stockomendation with five different ratings from five different analysts – Alan Oscroft says LONG TERM BUY, Goldman Sachs says SELL, Barclays says OVERWEIGHT (BUY), JP Morgan says UNDERWEIGHT (SELL) and RBC with UNDERPERFORM (SELL).

There are no active short positions open.

Forewarned is forearmed! As always you can see the aggregated, performance monitored and ranked stock tips and picks data in Stockomendation which equips you to make good investing decisions. Check out www.stockomendation.com before your next trade for maximum understanding of your target stock.

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Disclaimer: The contents of this article should not be considered financial advice. Pricing data correct as at 30th June 2023.