This stock will and must go higher ! Let me tell you why ! Insiders are loaded with inventories of PBY and they will rise price to unload their stock ! When prices were dropped sharply in may-june , fear of loosing trigger massive selling in PBY , and insiders bought !!!! Now after nine month holding time , when they can sell with long term capital gain tax bracket --- you count one month at a time and this will happend in march and in april ......so in may 2013 this stock PBY will be at 15 or even 20 level !!!
You can do it too -- buy when they buy and sell when they sell -- and you can also make long term gains , instead of short term gains ! Do this like I said and you will go a long way winning in the market.
The problem is Gabelli is not an insider and the real insiders that have traded the stock in the last 6 months have sold, not bought.
That said, I kind of want more exposure here. My last buy was $8.91 after selling some at $15 and $11.75 prior to that.
Not really looking for $20 but $13-14 is a reasonable 12-24 month target.
My expectation is they will again try to dress it up & sell it so its just a matter of how long it will take for that to happen and for a 3rd party to get comfortable making a bid after the last bidder backed away.
What keeps me from buying more is the lack of real insider buying.
Being a large holder does NOT make Gabelli or anyone a real insider. It just means they have to report like one.
I think that this will pop and it is just a matter of time , if they drop price like they did today -- 9.90-9.85
this this only to add more stock to their inventories , you are talking about possible takeover , that will be good for me , stock will jump higher , if not -- then I just sit and wait till march , and then sell !!!!