Joe use SEC filings not yahoo. Walter owns near 12 million shares per the latest filing.
I would add that the current virtually zero interest rates EVC is paying would be null and void in a buyout. Whoever bought them would have to refi the debt. If you add 5-6% at least to the current interest rate that only wipes out about $20 million+/- in benefit to whoever buys them. IMVHO that makes a buyout even more unlikely. This is why I like trading EVC. The volatility is incredible. They get a bunch more new investors to drink the Koolaid until they figure out how poorly run this company is being operated and they dump. I am amazed that we are above $7 with all the Aereo news and FCC news. I would add the FCC news is bigger issue now. Some might call it a nail in the coffin. DaninFW
I would add that nobody has mentioned the impact of interest rates 2 years from now. Much of the EPS improvement was from interest rate reduction. As of 12-31-15, just more than 21 months from now, their rates go from almost nothing to 5.73% on $186 million of their debt. I will let you calculate how many millions a year in extra expense that will be. I will give you a hint. It's well over a million a quarter. And what about the rest of the debt? This is what is known as smoke and mirrors. On the positive side they are getting the benefit of almost no interest expense as if they were a Triple A+ rated company. In 2 years much of that goes away. But, that 5.73% is actually a good LT rate for a company with EVC's debt load. Many would kill for it. The point is current earnings are being masked by artificially low interest rates. For the record, because of all the idiots misquoting me out there. I don't think I ever said I saw EVC below $5 a share unless there was a crash. I just think at current prices it's fairly priced and a good trading stock. I honestly wouldn't be surprised to see it run to $8 or drop to $6. Even money IMVHO. It's being manipulated right now and has been for these execs to dump their shares. Believe what you want. DaninFW
I would add that I won't pull the old news or posting but I believe it's about $4 million they have to expense for options in the next 12 months or so. If they had done it last quarter.........they would have not met EPS expect. This is one of the reasons after a lot of thought I bought the 50,000 EVC at $6.01 that I sold the next day when earnings were reported at $6.84 to $6.86. I realized that there had been few insider sales in many, many months and thought they would not take the hit. I was right. I now think this is the quarter it will take place. Many of you that are long probably don't like my postings. However, I have made well over $3 equivalent trading EVC last few months. I have my $10+/- a share without waiting for a buyout. You could have done the same trading. I honestly wish the longs well. Don't shoot the messenger. I didn't tell you like truth,monger it would be $12 by now. He is the idiot you should shoot. He keeps distorting facts and my statements. It's kind of like reading the bible. If you don't read the preceding and proceeding passages you can get almost any interpretation from a single verse. Let's see what happens Monday. If it goes up I would be a seller. DaninFW
Just trying to point out some big concerns. First off, Ulloa controls through beneficial and non-revocable trusts 889.848 shares in one and 10,599,517 shares in another. He can vote these shares but has little if any personal financial gain. This is also how he controls the company which enables him to cash out constantly at shareholder expense, pay himself more than other CEO's running similar companies many times the size of little EVC. The amount of stock owned by Univision also allows them to give their personal vote of approval before any merger can take place. It also requires that all contracts be up for renewal should there be a change of control. I don't call that in the best interests of shareholders. It also does not make it possible for Univision to buy EVC because it's part of the deal they made with the FCC if you do your research when they made them divest most of their holdings in EVC. The new FCC stance also makes it even more unlikely Univision would buy EVC. I would also add that in any accurate report that shows insider control or ownership of shares, it must include options, warrants and restricted stock even if not issued or vested. That's because in a buyout under every scenario I have ever heard about they become instantly vested even if not vested. If you guys take out all the stock these guys don't actually currently own or have DIRECT control over.....they are pretty much selling anything they can. In the case of Ulloa it bears even more scrutiny this time. The stock he sold yesterday actually vested on 110,000 shares of the 226,000 sold on 1-01-12. The other 110,000 vested 1-01-14. He waited over two years on over half and over 2 months on the other half to sell. WHY? He took advantage of beating revenues and earnings also knowing the sector is not in favor at present. I won't pretend that accounting is my expertise but I suspect we will see a near $2 million hit this quarter from option expense. DaninFW
In a Value Line report dated 2/7/14 it states officers/directors own 25.6% (13.3% by Mr. Ulloa) of the common stock and 100% of Class B stock (22.2 million, 10 votes/sh.). Univision owns 100% of 9.4 million nonvoting Class U stock.
Working strictly off the Yahoo statistics, which I realize may not be timely ... nevertheless ... insiders own less than 1% of the outstanding shares while institutions own greater than 60%. In addition, their current ratio is 3.
I'll stick with the prospects of either (a) a buyout at $10 or more (b) improving earnings based on current operations or (c) greater coverage by the analyst community giving more visibility to the company.
I'd by adding in the $6s for the Long Term ride.
Cheers to fellow Longs,
For the benefit of Dan who is clearly upset about his backwards "strong sell" & "dead money" comments and now feels compelled to badmouth one of the best CEO's in the industry -- Yes Walter exercised some options but take note of the bottom of the bottom of the SEC filing -- in total Walter has beneficial ownership of approximately 12 million shares.
That's my kind of CEO. Walter's interests are aligned with shareholders.
Dan, your incomplete & naive commentary has (rather obviously) not been helpful.
Dan! Great to have you back! You left me on my own to fight the battle as is rose through to $7. You left me hanging brother!
Some say because these executives are selling a very small % of their ownership it simply represents diversification after many years of accumulation? What is the real story?
Also from a short perspective I am slightly concerned they may blow Q1 expectations away based on the Jan &Feb growth mentioned on the call, plus retrans being better and especially the refinance benefit was much greater than expected.
Certainly a strong sell, but at a time when unprofitable company valuations are going crazy I have to worry about this making 70 cents free cash flow.
After posting a fairly positive post on EVC I checked SEC filings after the close today. The Chairman and CEO sold 226,000 shares today and two other execs sold 66,000 each and our old buddy Wilkinson sold another 54,000+ yesterday and today. I hope you guys feel a ,lot better about this company than three of the top dogs. The 4th guy was already fired. I can't imagine this not having a negative effect Monday. I may be back in Tuesday or Wednesday. I would add that all these guys except Wilkinson exercised options at under $2 each and sold at over $7 each.......as I have said time and again.......the CEO runs this company like his own personal ATM machine. These three guys just pocketed $1.8 million clear profit today. BTW, that also has to be reflected in the P&L under "option expense" if they haven't already written it off........which they haven't. DaninFW
Sorry, been out of pocket. Been on a 11 day Panama Canal Cruise and just got back today. As I said before I left EVC was starting to show some strength. I bought 50,000 at an average of $6.01 the evening before earnings. I expected a small bump to be honest but got out at $6.84 to $6.86 the day after buying. Made just under $44,000. Not bad. It dipped to $6.36 the next day and I honestly thought it would soon be back to normal trading pattern. I didn't buy more. Congrats to those of you that held to above $7. To me it is scary at these levels. There are two investor presentations next week or so and we may see it hang at these levels. They did surprise on revenues and earnings which was rare for this sector this quarter. The entire sector is getting killed because of Aereo, the FCC and disappointing revenues or earnings that the sector reported. Many now think the FCC issue caused most of the downward spike but the crash started way before the FCC news report and just further accelerated the sector decline. Funny that EVC that did no sidecars (that I am aware of), has few if any duopolies (that I would consider), no management agreements, etc. like almost the rest of the sector.......is now benefitting because they have the least if any to lose......but, it also makes them less and less a takeover target...............happy for the longs but I think we will see $6 again before $8. DaninFW
You people want to make a big deal about the Q4 earnings "beat" and the 2014 outlook? Go ahead.
But the stock has barely moved. It was $6.90 a month ago before all this "good news".
Apparently its not that good? Right? Its going to crash.
You think EVC is CRASHING??? Look at AMD, GTAT, MXWL,BBY....them boys just done fell off the cliff.
Meanwhile SPWR, CSIQ??? they are just ESCALATING today......LMAO
I hope it "CRASHES" all the way to &7.27 or better. Then I will lock in my Profits from the CRASH.
Then I guess I will need to wait for it to ESCALATE Downward, so I can reload.