I have to say that today is the first day in probably two decades I have been impressed with the BOD's. They have now elected him as a new 9th member. Chainsaw Bob should pop this stock today. I have every confidence he will finally instigate long due changes at PBY's. May buy today if still in low 9's, other wise I will wait for pullback. Changes will take time but this guy is the best in world at what he does........cutting payroll and reducing expenses. He is totally cutthroat. I feel sorry for the employees but shareholders will prosper. I can't wait to see their choice of CEO. If this is any indication it could pop $2 soon. DaninFW
remember how long ago you had to "get the car ready" for whatever season? Different oil grade, tire change, drain the antifreeze, plus assorted other services? A car now can be made virtually "all season" - that's the reason for the decline in revenue
Actually, there were three of the top five holders that dumped shares in Q4. However, there was actually a net gain in institutional holders:
60 added 4,412,801 shares
50 sold 3,780,596 shares
17 bought 1,581,256
Sold Out Positions
8 sold out 738,457
However, short interest also increased almost 370,000 shares as reported yesterday.
Not sure I understand your question but in Q4, PBY's actually had a net gain in institutional ownership even though two of the top five sellers sold. DaninFW
You see, that's the problem with most investors with PBY. This kind of weather kills their sales. Companies like ORLY, AAP and AZO will have very soft sales as well. I ran hundreds of these stores for years. For instance, in the DFW area, stores will do 30-40% of normal sales IF LUCKY. More like 20-35%. This kind of weather knocks out starters, alternators and batteries and little else other than they finally decide they need new tires which PBY's has zero margin in. And guess what? Most people replace their own starters, alternators and batteries. If stranded that's what they bought today. Most of these stores only sell the items I mentioned above today. Nobody else is going to go shopping. Anyone having an accident today is going to a body shop the next week or so not PBY's. Remember, the new CEO said they were looking for someone with service experience. Retail customers don't go to PBY's unless the others are out of stock. They have limited inventory and higher prices. I could go on but I remember many instances in the past few years where when they didn't make sales numbers, the CEO would often site adverse weather for long periods. Take the time to read old reports if you wish. It's a fact. If we see a market downturn IMVHO PBY's will test the $8.00 5 year low. But, I will be buying again in low 8's for another trade. DaninFW
I would like to see the shares dip back down to the low $8's, so I could load up again. This is nothing more than a merchandising game-buying wholesale and then selling retail.