Aegean Marine Petroleum Network Inc. Message Board
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This is BS
Okay granted this company is run by a bunch of morons concerned w/ growing the company whatever the cost. This is all due to a couple bad quarters where spreads collapsed concurrent w/ growing the co. w/ debt. That being said, the multiple is at trough (inline w/ the stock's lows in 2008) and these are extremely long-lived assets. Covenants are not in danger of being broken. Don't listen to the ppl like h_grant_h etal who would have you shaken out of your positions.
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Look, it will trade over 4 million shares today, along with yesterdays # and it means one thing, the institutions are buying, buying, buying.ANW was on CNBC as Pete Najarian had this stock highlighted. the word is out, now we see how much steam it has, doc
- 1 Reply to docbay8
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Sharp drop from 11.13 to 10.51 in such short time.
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wheres hugh
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These are long-lived assets and to the extent that it is the ships that are secured, the entire shipping/transporting industry is coming off a long period of underutilization.
As for the inventory builduup, that is primarily oil-related inventory where the price has recently moved up from about US80 to near US90.
Tax-related selling certainly can be expected right through to month-end.
Nothing worse than a sold out bull after a decline like this.
JMO.
specsit.
I am long ANW. -
hang tight chinese will start importing big time in the new year brazils olmpics coming up buy and forget it check back in june
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But they were making good money in 2008 and things were on a positive trajectory.
Debt covs always become an issue when earnings evaporate. Especially with as much leverage as they have.- 1 Reply to outpissed
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I agree that things were on a positive trajectory in 2008 but that wasn't a foregone conclusion at the time the stock ripped higher. Also, they made pretty good money in the first 2 quarters. It's only in 3Q that everythings gone down the tubes. Most of the debt is attached to the boats - much like a real estate company so you don't lose all the boats/buildings - you lose them one at a time in the event of default.
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