Wow! It has been a while since I looked at this stock! The ole slide of hand (sell assets to make debt payments is finally coming to the surface. They sold another hospital at the end of August. Volume was huge down 5.88 percent today (on top of yesterdays loss). The cash flows statement looks like a greek nightmare.
I told Denzy this was on the way. He said he was going to make a bundle. He bought my stock at $6.5 (a loss for me) now he has taken a really nice loss (hope you can use this toward your taxes guy.
Most of the "senior" staff have MHA degrees, not MBA's. There is a huge difference. They don't have advanced accounting or finance. So they do what is told of them by the top executives without the ability to really follow what is going on because they were not educated on how to do things for themselves. It shows how important it is to hire people with the right credentials.
Watch the next quarter, it is really going to be bad. Do some research on this company before you buy. The executives are not taking stock as bonuses (as they were before) they are taking cash bonuses. That means they know the stock is going no where and they want to be compensated. Well, so do the stockholders. HMA is selling off its assets to pay the interest of the debt they owe. This quarter they had to not only sell a hospital, they had to take out a short term loan. Lets remember they have over 300 milllion dollars in debt. They have a negative cash flow this quarter even with the sell of an asset.
I see this company circling the drain. The upper management is just trying to ride this out on top of the stockholders. They want you to buy shares while they won't even take their own share as a bonus. Wow...
Jeepy, you are right on top of this company. They have been doing the shell game for years. Sell hospitals to pay down debt or to give themselves bonuses then borrow again to buy more hospitals only to sell hospitals again to pay down debt. The shell game is nearing an end. Put a stake in this baby and DO NOT BUY. Sell selll sell.