Kursverdoppelung bei Actua Corporation (vorm. Internet Capital)

die für Rückkäufe eingesetzt werden können:

As of June 30, 2017 , $11.3 million related to Actua’s potential proceeds from sales of former businesses, particularly GovDelivery, remained in escrow to satisfy potential or unresolved indemnification claims. Those outstanding escrow amounts are scheduled to be released in the fourth quarter of 2017, subject to any pending and potential indemnity claims, if applicable, pursuant to the terms of the applicable acquisition agreements.
Concentration of Customer Base and Credit Risk

http://icge.ir.edgar-online.com/...p;filename=ACTUA_CORP_10Q_20170809
 

12.60-0.20 (-1.56%)
At close: ‎September‎ ‎1 4:00PM EDT
Actua Corporation (ACTA)
NASDAQ Global Select - NASDAQ Global Select Delayed Price. Currency in USD

bei den nachstehenden Daten aus, wenn man die Marktkapitalisierung von 385,72 Millionen durch den Kurs von 12,6 dividiert.

Previous Close 12.80
      Open     12.75          §
       Bid§0.00 x 0
       Ask§0.00 x 0
Day's Range 12.60 - 12.80
52 Week Range 10.09 - 15.28
    Volume    78,701§
Avg. Volume 117,451
Market Cap 385.72M
      Beta      1.82§
PE Ratio (TTM) 5.97
EPS (TTM) 2.11
Earnings Date ‎May‎ ‎4‎, ‎2017 - ‎May‎ ‎8‎, ‎2017
Dividend & Yield N/A (N/A)
Ex-Dividend Date N/A
1y Target Est 16.67

https://finance.yahoo.com/quote/ACTA?p=ACTA
 

dann ein Multiple von ca. 3.

Die Preisfrage ist nun, ob dieses Mutliple angemessen ist oder nicht. Meine Meinung habe ich da dazu schon öfter kundgetan,  

I spoke with Bolt founder Eric Gewirtzman this week. My ex-manager and the reason I could claim I worked for an insurtech company back in 2006, when I thought Travelers was king of the hill. Little did I know and I do digress. Like Komparu, Bolt was in the business of selling comparison software to insurers. But Bolt also had/has some of the sharpest brains in tech, which allowed it to provide IT support, ad-hoc projects and different types of distribution platforms to insurance players. Today Bolt is part a technology partner and part a multi-line digital broker. Given that the latter is self-explanatory, here’s an example that illustrates its value proposition as a technology partner: Bolt’s technology enables Progressive (‘the agency’) to sell homeowners insurance. And so Bolt is powering Progressive.

https://medium.com/@ShefiBenHutta/insurtech-is-not-well-a6a19b3e95ba
 

Ihr solltet aber die ganze Quelle lesen, um zu erkennen, dass Insurtech keine Honigschlecken ist und das Anbieten einer Vergleichssoftware nicht viel bedeutet.  

Actua has over 20% revenue growth, 70% margins and 98% customer retention.

https://seekingalpha.com/article/...rowing-saas-business-point-upside
 

danach die untere Grenze - und nicht wie momentan ein Multiple von 3:

Company Name Ticker Market Cap TEV / NTM Revenue TEV / LTM Revenue NTM Revenue Growth (%) LTM Revenue Growth (%) LTM EBITDA Margin LTM Gross Margin
                                                                                                    §
   Average         -    $4,997      4.5x      5.6x       21%       24%       -4%       69%      
§
https://seekingalpha.com/article/...tion-redux-sane-cloud-posse-rides
 

sind für die Revenues von Bolt ein Multiple von 10 realistischer als 5.  

aber ein Multiple von 8

Company Name Ticker Market Cap TEV / NTM Revenue TEV / LTM Revenue NTM Revenue Growth (%) LTM Revenue Growth (%) LTM EBITDA Margin LTM Gross Margin
                                                                                                    §
   Average         -    $4,997      4.5x      5.6x       21%       24%       -4%       69%          §
Guidewire Software, Inc. GWRE $4,183 6.8x 8.0x 18% 14% 4% 63%

https://seekingalpha.com/article/...tion-redux-sane-cloud-posse-rides  

http://www.foliodynamix.com/culture/careers/  

https://www.ehs.com/about-us/careers/open-positions/  

According to PwC, cloud-based deployments are the way to go for insurers who are laden by outdated technology and under the gun to deliver innovative new offerings to capture market and wallet share.[ii] Top-tier, SaaS-based digital distribution platforms work with legacy systems, uniting product silos to improve the agent and consumer experience, while providing access to a wealth of new products.

http://blog.boltinc.com/...surance-agents-bust-into-the-digital-realm
 

http://www.capterra.com/p/88891/EHS-Management-Software/  

einige Stücke einsammeln konnte.

Handelsplatz   Letzter            Änderung    Vortag§letzte Stk. Tag-Stk.   Kursspanne Zeit

Nasdaq
12,55 $ -0,40% 12,60 $ 7.407 100.709 12,35 - 12,65 05.09.17 Hist. Kurse »

http://www.ariva.de/actua-aktie/kurs
 

About This Software
VelocityEHS is the #1 EHS software provider in the industry with over 13,000 customers and 8 million users worldwide. VelocityEHS received top scores in the 2017 NAEM EHS & Sustainability Software Ratings Report, which found that customers were more likely to recommend VelocityEHS to a colleague than any other system. It received top scores for ease of use, speed of implementation and customer service. Our in-house team can deliver a fully-implemented system in as little as two to four weeks.  

Actua Corporation (ACTA)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
12.50-0.05 (-0.40%)
As of 3:54PM EDT. Market open.
    Volume54,392

§
12.45-0.10 (-0.80 %)
    Volume74,951
§
https://finance.yahoo.com/quote/ACTA?p=ACTA
 

In conclusion.
Although most WM firms have been reluctant to embrace digital, modern consumers are demanding greater control, more personalized information and advice, and omnichannel access.
A number of disrupters in the field are addressing their needs with automated, easy-to-use digital tools that provide seamless integration of accounts, real-time intelligence and insights, unconventional investment opportunities, and lower fees.
WM firms that continue doing business as usual will watch their profits plunge as they lose market share to these competitors, spend more on cyber security and regulatory compliance, and fail to attract new customers.
In order to grow and prosper in the future WM firms need to use digital capabilities to improve customer experience, increase revenue, lower costs, and be poised to tap into emerging markets. Utilizing the cloud to gain a holistic view of the client and then using data and analytics to inform decision making and identify opportunities for engagement are top priorities.
WM is evolving rapidly. The time to prepare for the future is now.

http://blog.truelytics.com/digital-disruption-in-wealth-management
 

Add product and channel choice: I mentioned the Amazon experience above, because it has shaped so much of consumers’ shopping preferences and expectations. As we see by following InsurTech funding and partnerships, traditional insurers are realizing the direction that consumers are pushing the industry, and in an attempt to get ahead of the game, are differentiating themselves and the service they provide by partnering with InsurTechs to add channel and product choice.

We see tremendous benefits for insurers who focus on meeting more of the customer’s needs. Consider a leading insurer who introduced new coverage options by selling other carriers’ products to augment their auto lineup and added 72,000 policies in under 10 months. Another gave agents access to additional home products and grew policies sold from less than 8,000 a month to 57,000 a month.

Of course, product choice isn’t complete without giving consumers the ability to engage with insurers through their channel of choice. One top 5 insurer, well known for their digital prowess, has been reported to own quote conversion rates of 35% through agent channels and up to 53% through direct purchasing.

The problem for most insurers comes in attaining digital capabilities and the extensive range of products they need to acquire and retain customers. Developing new products can take up to a year or more, and overhauling legacy technology to add digital channels of engagement and efficiently distribute new offerings is an arduous task. Neither course of action will make traditional insurers competitive before leading digital rivals pass them by. Partnering with InsurTech innovators to bundle products from other carriers with their own and distribute them with top-tier digital capabilities, can.

http://blog.boltinc.com/...p;utm_medium=social&utm_source=twitter
 

BOLT Solutions Inc., a New York-headquartered provider of an online distribution and customer support platform for the property and casualty insurance industry, has hired Tom Temple as managing director of business development.

In this role, Temple will work to identify and capitalize on potential new business opportunities for BOLT. His position will focus on establishing partnerships with property and casualty insurers to help them sell and market all of the products consumers demand through their channel of choice.
“As a licensed property and casualty insurance agent, Tom understands the growing Insurtech landscape and the value it holds for the future of the industry,” said BOLT CEO Eric Gewirtzman in a company press release. “This is an important and exciting time for Insurtech, and we are thrilled to have Tom onboard as we continue to expand our reach in the industry.”

http://www.insurancejournal.com/news/east/2017/09/05/463299.htm
 

https://finance.yahoo.com/news/...ware-beats-street-4q-205643207.html  

aber ich gehe davon aus, dass Postings auf deutschen Boards für die Kursentwicklung von Actua ein Nonevent sind.

Und auf US-Boards mache ich ja schon seit vielen Wochen vorsichtshalber eine Pause, obwohl ich mir auch hier nicht vorstellen kann, dass das Posten auf einem Aktienboard bei einer Marktkapitalisierung wie bei Acuta einen erheblichen Einfluss hat.  

der Porzellankiste:

Share Repurchases: Actua’s Fourth Platform

- Total amount deployed since inception of buyback program in 2008 through June 15, 2017, is $153.4 million

- 13.3 million shares repurchased at an average price of $11.50

- Authorization of $36.4 million remaining under the $189.8 million repurchase program

http://www.actua.com/wp-content/uploads/2017/06/...-Meeting-FINAL.pdf
 

Actua to Announce Second Quarter 2017 Results
Date: August 9, 2017 at 10:00 a.m. ET

Continued to invest in Actua through stock repurchases – Year-to-date, repurchased close to 2.2 million shares of Actua stock for approximately $30 million – Over the last 12 months, repurchased about 6.8 million shares of Actua stock for approximately $94 million – representing an almost 20% reduction in shares outstanding

http://www.actua.com/investors/events-presentations/
 

We maintain a share repurchase program under which we may, from time to time, repurchase shares of our Common Stock in the open market, including pursuant to trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act, in privately negotiated transactions or pursuant to one or more issuer tender offers. The program was expanded in September 2013 and again in October 2016 to allow for the repurchase of up to $189.8 million of shares of our Common Stock. The table below contains information relating to the repurchases of our Common Stock that occurred under the share repurchase program from the program’s inception on July 31, 2008 through August 8, 2017 , at which point $30.5 million is available for future repurchases.

Period  
Total Number of Shares Purchased  (1)  
Average Price Paid per Share  (2)  
Total Number of Shares Purchased as Part of Publicly Announced Program (1)  
Approximate Dollar Value That May  Yet Be Purchased Under the Program Repurchased through

12/31/2016   11,585,943   $ 11.13   11,585,943   $ 60.8 million
1/1/2017 to 1/31/2017   78,015   $ 13.99   78,015   $ 59.7 million
2/1/2017 to 2/28/2017   310,133   $ 13.97   310,133   $ 55.4 million
3/1/2017 to 3/31/2017   507,639   $ 13.88   507,639   $ 48.3 million
4/1/2017 to 4/30/2017   333,078   $ 13.99   333,078   $ 43.7 million
5/1/2017 to 5/31/2017   517,604   $ 14.00   517,604   $ 36.4 million
6/1/2017 to 6/30/2017   79,062   $ 14.00   79,062   $ 35.3 million
7/1/2017 to 8/8/2017   349,737   $ 13.94   349,737   $ 30.5 million
Total   13,761,211   $ 11.58   13,761,211   $ 30.5

http://icge.ir.edgar-online.com/efxapi/EFX_dll/...VyS&ID=12221208
 

noch offenen 30,5 Millionen für Rückkäufe bis zum Jahresende 2017 noch auszugeben. Bei den momentanen Kursen liegt das eigentlich nahe.