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Atlantic American Corp. Message Board

  • joseywhales4life joseywhales4life Oct 30, 2009 12:20 PM Flag

    This is a real bargain right now...intrinsic value is huge

    AAME is selling for less than their current cash in the bank, this is a pure Ben Graham play pure and simple. Their net current asset value is over $34 million. They have over $28.9 million in cash alone... their current market cap is only $28 million, they have over $100 million dollars of revenue each year and a tangible book value of over $75 million. If AAME were to liquidate today they could probably fetch a conservative price anywhere from $100-130 million conservatively based on normal revenue and and a small premium to book value. They also have a sizable investment portfolio that was hit hard the last few years, so their is a good possibility that their book value will increase solely based on increased appreciation of their undervalued investment assets. The only negatives I see is their current earnings are low and this stock is almost a private company with a small float of shares outstanding. This low volume makes for a bumpy ride but I believe those who are patient will be well rewarded. PS: Also, the company authorized a buyback of 500,000 shares which if all done will make each share more valuable. LONGS HOLD TIGHT! If earnings are good, then this stock goes through the roof.

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    • Good summary. Do you know where to find out how many shares have been already bought back by the company?

      Thanks and good luck

      • 1 Reply to bighoper
      • bighoper,
        To find how many shares were bought back and at what price we have to look at the balance sheet and the statement of cash flows when the new quarterly earnings are released...The bottom of the balance sheet shows how many shares are of June 30th 2009 they currently have 22,374,000 shares outstanding... under financing activities in cash flow statement for the last quarter they purchased 0 shares during that quarter. On sept 18th 2009 the company said they wanted to buyback shares that were they were already authorized of up to 500,000 shares. So, when earnings are released in november you have to play detective and comb through their statements to know what is actually going on. Since this is such a low volume bet is it will take them awhile to complete the share repurchase plan probably many quarters down the road. GLTA

4.00-0.02(-0.50%)Feb 27 3:59 PMEST

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