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Goodvalley secures refinancing of senior debt

Goodvalley A/S
·1 min read

01/02/2021
COMPANY ANNOUNCEMENT 1/2021

The Goodvalley board of directors has approved a facilities agreement consisting of two term loans in the aggregate amount of EUR 140,000,000 and two revolving credit facilities of up to EUR 10,000,000. The purpose of the facility is to refinance Goodvalley’s existing EUR 135,000,000 senior secured bond which matures on 24 May 2021.

Further information

CEO, Hans Henrik Pedersen
+ 45 76 52 20 00
investor@goodvalley.com

Goodvalley at a glance

Goodvalley is an international producer of high-quality pork products operating in Poland, Ukraine and Russia based on Danish production standards. The company is to a large extent self-sufficient and masters the whole production chain from field to fork, from growing crops for feed, breeding and slaughtering pigs including using the manure in biogas facilities to produce electricity and organic fertilizer for the fields. Goodvalley is certified as a carbon neutral company by German TÜV and operates according to the highest standards in terms of animal welfare, transparency in the production and sustainable production methods.

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    As a member of r/WallStreetBets, a popular Reddit forum, let me tell you this: It wasn’t supposed to ever happen. Our happy band of rag-tag investors was supposed to use our little corner of the internet to exchange risky stock investment ideas, not take down one of America’s most prominent hedge funds. Source: Mehaniq / Shutterstock.com Yet here we are. In the past week, traders reading WSB and other forums have pushed GameStop (NYSE:GME) and a host of other highly shorted stocks to impossibly high levels, bankrupting at least one hedge fund and causing several platforms to halt trading. So ham-handed was Wall Street’s response that Congress members Ted Cruz and Alexandria Ocasio-Cortez, long-sworn enemies, even managed a coordinated tongue-wagging (Twitter-wagging?) at the U.S. financial system. But as Citadel picks up the pieces of Melvin Capital and Reddit users find their next short-squeeze target, people are starting to ask, “what’s next?”InvestorPlace - Stock Market News, Stock Advice & Trading Tips Reddit’s r/WallStreetBets Gives Citron a Taste Let me be clear: You won’t find my posts on r/WallStreetBets. As much as I read and enjoy the platform, my work and ethics prevent me from talking about any stock I own. (Sorry, Elon Musk. I wish I were you.) Wall Street Bets has always been about having fun. Many of the posts are intentionally moronic — think out-of-the-money calls on failing retailers — and there are plenty of contributors who show screenshots of life savings going to zero. Profitable or not, it was about finding the joys and absurdities of market speculation. Back in November, GameStop was among these fun little ventures. And it all seemed quite a standard fare for the subreddit billed as “4chan finding a Bloomberg Terminal.” GameStop fans cheered on buyers while cursing out Melvin Capital for shorting the stock. All in hopes of realizing America’s favorite pastime: making a lot of money with as little effort as possible. But then Citron Research changed it all. Citron Research? Meet r/WallStreetBets On Jan. 19, respected short-seller Andrew Left managed to finally pick the wrong target. As long-time Wall Street outsider, Mr. Left made a name for himself exposing companies like Valeant Pharmaceuticals, whose executives were channel stuffing and spiking the prices of the lifesaving drugs. He would have made a great WSB contributor, if he were willing to put up with hate speech from 15 year olds. But then something happened. The day before the presidential inauguration, Mr. Left announced he would make a case why GameStop shares were worth only $20. 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As market makers began to seize up, markets started going wild. That spelled problems for Robinhood. On Wednesday, Robinhood halted trading for GameStop and almost a dozen other companies. “In order to protect our firm and protect our customers,” CEO Vlad Tenev would later tell CNBC’s Andrew Ross Sorkin, “we had to limit buying in these stocks.” Can Robinhood Go Under? In the world of trading, most conservatively-run platforms don’t have trouble managing liquidity. As long as you hold enough capital and maintain disciplined margin requirements, it’s rare for your clearinghouse to force you to raise fresh capital. But when it comes to Wall Street, financial companies all seem to run into the same issue — when your customers are making so much money, it’s hard to resist the temptation to join them. Financial regulators have long known these Wall Street shenanigans. Banks from Bear Stearns to Barings all went under when they tried trading customer money as their own, leaving taxpayers and shareholders footing the bill. Many more have experimented with bare-minimum capitalization — only later to realize their disastrous mistakes. So, over the years, smart governments have occasionally found the willpower to ban such practices and enforce strict margin and capital requirements. (Often, these rules would come undone by even smarter financial lobbyists.) Today, many platforms use a loophole to lease customer securities for profit. And when GME stock can get leased out at 25% interest rates to short-sellers, there’s a great temptation for these financial firms to double-dip. Did Robinhood do that? Possibly. Despite Robinhood’s claims that its trading shutdown was proactive, the company still drew down capital lines and banned users from buying more GameStop shares — a signal that Robinhood itself might have been short on capital and shares. (Since Robinhood is a private company, we may never know the truth.) But will Robinhood get in regulatory trouble? Almost certainly. The company banned trading in a dozen stocks on Wednesday during peak investment demand — reportedly because the company needed time to raise fresh capital. So, as retail investors watched from the sidelines, hedge funds cashed out at otherwise lower prices. In a very real sense, Robinhood arguably saved institutions billions of dollars at investors’ expense. Should We Be Scared? As Wall Street picks up the remnants of Melvin Capital and the GME fallout, two things have become clear. 1) “Dumb money” isn’t so dumb after all, and 2) “smart money” is getting taken to the woodshed. First, let’s consider what Wall Street has long called “dumb money,” the retail investor. Most of these people are like you and me — investing the majority of savings in long-term stocks for retirement, while playing around with a small portion for fun. And the gleeful absurdity of r/WallStreetBets aside, most retail investors tend to know what they’re buying (even if they get the valuations wrong sometimes.) The top-100 Robinhood stocks represent a wide swatch of consumer-related companies that have grown in real-world popularity as well as stock-related fame. Second, the GME fiasco has revealed “smart money” for the absurd bets they sometimes take. While a long-short hedge fund can help investors smooth out gains, they’re often as bad as what they call “dumb money” in closing out losses. Melvin Capital, for instance, lost 30% of its net worth in the first three weeks of January. But it took another six days (after the stock had gained another 250%) for the hedge fund to finally relinquish its mammoth position. Since then, other hedge funds have stepped up to replace Melvin in this high-stakes game of “pass the hot potato,” as if trying to prove r/WallStreetBets’ point that hedge funds will always try to make more money off regular investors if they believe the odds are right. GameStop also exposed the revolving door behind hedge funds and market makers. When Ken Griffin’s Citadel LLC, a $35 billion fund, bailed out Melvin Capital, Twitter users quickly pointed out that Citadel also owns a market-making operation that services none other than Robinhood. Where to Go from Here? Investors looking to soak the financial system would do well to buy index funds and sit on them forever. You might not get the gleeful joy of seeing a hedge fund blow up, but companies like Citadel that rely on retail money will see revenues dry up. But for those looking to invest wisely, consider this. With retail investors’ newfound power, you can expect short-sellers to think twice about selling a company. 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On the date of publication, Tom Yeung did not have (either directly or indirectly) any positions in the securities mentioned in this article. Tom Yeung, CFA, is a registered investment advisor on a mission to bring simplicity to the world of investing. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post Reddit’s r/WallStreetBets Just Took Down a Hedge Fund. You’ll Love What Comes Next. appeared first on InvestorPlace.

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Already some prominent members of the WallStreetBets forum have advised against it, with some noting that Ken Griffin’s Citadel Advisors LLC, a favorite bogeyman of the Reddit crowd, is listed as one of the biggest shareholders of the iShares silver trust.Whether or not the rally fizzles, it could have ramifications beyond what has typically been a relatively niche corner of the commodities world. As the first high-profile target of the retail frenzy to start trading on Monday, silver may help set the tone this week for managers trying to gauge how Reddit-fueled volatility will impact their risk models and potentially cascade from one asset to the next.Momentum Trade“Last week’s events have shown it to be unwise to doubt the purchasing power of retail investors, and this has been sufficiently demonstrated again on the silver market,” said Howie Lee, an economist at Oversea-Chinese Banking Corp. “They may find it a bit harder to squeeze the silver market than they did with GameStop -- the former is much bigger and more liquid -- but the momentum looks like it rests with them at the moment.”Futures were trading 11% higher on the Comex as of 8:19 a.m. in London, after rising more than 5% last week.The buying frenzy also fed into mining shares. 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And even better, for investors seeing a growth profile, Wall Street’s analysts see continued growth ahead. Hyrecar, Inc. (HYRE) The gig economy has exploded in recent years, connecting people with skills to people with needs. Hyrecar fills a gap for car-less drivers, connecting car owners with idle vehicles to gig drivers (think Uber and Lyft) who need a vehicle. The Hyrecar service allows drivers to rent time in these vehicles, earning money from their transport or delivery routes while the car’s owner earns a passive income from the rental fee. Hyrecar operates on the peer-to-peer model, and is available to subscribers as an online platform or a mobile app. In the past year 12 months, the company’s shares have boomed. HYRE is up 228% in that time, riding especially high as economies opened up in 2H20. To put some numbers on the company’s gains, revenue increased from $3.7 million in 3Q19 to $6.8 million in 3Q20 (the last reported quarter), a year-over-year gain of 83%. While Hyrecar currently runs a net loss – like many tech-oriented startups – that loss has moderated over the course of 2020. In 3Q19, EPS was negative 24 cents; in 3Q20, that had improved to negative 10 cents. In January 2021, the company announced partnerships with AmeriDrive Holdings, an automotive fleet manager, and Cogent Bank’s Specialty Lending Unit to increase the pool of available vehicles. The expected surge in vehicle availability has analysts bullish on Hyrecar. “New strategic partnerships involving HYRE and four key players, including AmeriDrive Holdings (private) and Cogent Bank (private), aims to more than double the vehicle supply on HYRE’s platform in the next 12-18 months… We view the announcement as a significant win for HYRE, which we believe creates a massive opportunity for HYRE to increase average active rentals to ~9,000 per day vs. ~2,800 in 2021,” Maxim analyst Jack Vander Aarde noted. In line with this upbeat outlook, the 5-star analyst puts a Buy rating on HYRE along with an $18 price target. At that level, his target predicts an 82% upside in the coming year. (To watch Vander Aarde’s track record, click here) Over the past 3 months, only two other analysts have thrown the hat in with a view on the carsharing services player. The two additional Buy ratings provide HYRE with a Strong Buy consensus rating. With an average price target of $15.67, investors stand to take home a 59% gain, should the target be met over the next 12 months. (See HYRE stock analysis on TipRanks) Alpha and Omega Semiconductor (AOSL) Next up, Alpha and Omega, is a semiconductor maker with a wide portfolio of chipsets specifically designed for the power control requirements of advanced electronic devices. AOSL’s chips are found in a range of common devices, including flat-screen TVs, LED lighting, portable PCs, smart phones – and the power supply units for these products. In the fiscal 1Q21, the company reported $151.6 million in revenue, for a 28% year-over-year increase. Earnings, which had been negative prior to the fiscal Q1 report, turned positive with an EPS of 36 cents. The gain bodes well for the company’s performance, now that the pandemic crisis is starting to recede. The second fiscal quarter results will be published on Thursday, February 4. Alpha and Omega’s stock performance is also picking up, with shares rising 123% over the past 12 months. Growth like this is sure to attract attention, and it has. 5-star analyst Craig Ellis of B. Riley Securities, noted, “Comms YE 5G smartphone unit strength lends an upside bias, and we like CY21’s 2x YY growth potential... In Consumer, healthy next-gen gaming console uptake has follow-on product and design-in opportunities. So, we believe Comms, Compute, and Consumer end markets are performing quite well… We expect above-industry AOSL growth…" To this end, Ellis rates AOSL a Buy along with a $40 price target. This figure implies ~40% upside from current levels. (To watch Ellis’ track record, click here) Though not many have weighed in with an opinion on AOSL in the last 3 months, those who have are singing its praises. Overall, two analysts rate the semiconductor maker a Buy and the average price target of $37.50 implies ~30% upside for the upcoming year. (See AOSL stock analysis on TipRanks) Lands’ End (LE) The retail landscape has been shifting dramatically in recent years, and many venerable names have fallen by the wayside. Some, however, have survived. Lands’ End, founded almost 60 years ago, has built a reputation for quality in the clothing, footwear, and home décor niche. The company brought in $1.45 billion for its fiscal year 2019, the last with full numbers available. From the 2020 numbers that have been published, it looks like Lands’ End is on track for steady growth. It posted year-over-year revenue gains in both Q2 and Q3 of 2020, indicating a quick recovery from the COVID crisis. The Q3 revenue was $360 million, up 5.8% from 3Q19 – and up an even more impressive 15% from 2Q20. Meanwhile, the company has revised its Q4 guidance upward. Revenue is expected between $528 million and $533 million, up 4% at the midpoint. EPS is expected between 54 cents and 58 cents, for a 19% midpoint increase. Solid revenues through a difficult year have powered strong share appreciation. LE stock has gained a robust 126% over the past 52 weeks. Covering this stock for Craig-Hallum, analyst Alex Fuhrman writes, “Lands’ End defied expectations in 2020 and is well positioned to grow in 2021 and beyond. The company proved its ability to execute in all environments as well as the strength of its branded e-commerce channel, which has grown more than 20% y/y over the past two reported quarters… we envision continued e-commerce growth, as 2020’s growth was likely the result of market share gains from brick-and-mortar foes rather than 'pantry loading,' while the retail and uniforms channels have potential for substantial growth ahead.” Unsurprisingly, Fuhrman rates the stock a Buy, and his price target, at $35, implies ~27% growth potential in the next 12 months. (To watch Fuhrman’s track record, click here) Some stocks fly under the radar, and LE is one of those. Fuhrman's is the only recent analyst review of this company, and it is decidedly positive. (See LE stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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