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IGL
IVE Group Ltd
Media
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Communication Services
About IVE Group Ltd
SOURCE
ACTION
FUND MANAGER
DATE
31 Dec 2023
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Initiated
Quarterly Report
Commentary
§ Important Notice
The entries below are records originating from third-party statements. Thesis Tracker does not rank, recommend or endorse any fund manager, fund or security. Investment decisions should be made on the basis of the relevant Product Disclosure Statement and, where appropriate, advice from a licensed adviser.
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Frequently asked questions about IVE Group Ltd (ASX:IGL)
Frequently asked questions
Who is investing in IVE Group Ltd (ASX:IGL)?
Fund managers including Renaissance Asset Management have invested in IVE Group Ltd (ASX:IGL).
What opportunities or catalysts do fund managers highlight for IVE Group Ltd?
Renaissance Asset Management, commenting around December 2023 when shares were about $1.98, argued IVE Group was undervalued despite being out of favour, noting it produces $100m EBITDA, should benefit from 2023 acquisitions, and had made efficiency changes to improve returns; the shares had traded down to a PER of 5.5x and near a 12% fully franked yield during the year, and the business had shifted from pure printing to more integrated, stickier media services (letterbox distribution, creative services, data and digital communications) with 75% of clients using more than one service, alongside site rationalisations and cost savings expected to drive modest earnings growth, leaving the stock, in their view, still offering compelling value at a forecast PER of 6.5x and 8.4% yield.
What are the key risks to the IVE Group Ltd investment thesis, according to fund managers?
Renaissance Asset Management noted IVE Group was troubled by tax loss selling and had fallen out of favour with investors, who had been conditioned by the struggles of the printing industry as seen through serial underperformer PMP (now Ovato Ltd) and had never warmed to IVE Group as a result, despite its shift toward more diversified, less print-dependent services.
What is the short interest in IVE Group Ltd (ASX:IGL)?
The short interest in IVE Group Ltd (ASX:IGL) is 0.20% which makes it the 399th most shorted stock on the ASX. Of the 152.4M shares that IVE Group Ltd has on issue, 308.8K have been sold short.
What does IVE Group Ltd (ASX:IGL) do?
IVE Group Ltd. is an Australian communications solutions provider, headquartered in Sydney and established in 1996. The company delivers an integrated suite of services, including creative design, personalized communications, print production, and retail display. Their operational capabilities extend to promotional merchandising, third-party sourcing, logistics, fulfillment, and comprehensive managed solutions. IVE Group serves as a strategic partner for businesses requiring end-to-end communication and marketing supply chain services across Australia.