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Pier 1 Imports, Inc. Message Board

  • pljohnson99 pljohnson99 May 29, 2009 10:06 AM Flag

    Greek Investments Inc

    Listed under insider transactions are large purchases by Greek Investments Inc. Who is Greek Investments and why are their large purchases listed as "insider transactions"? Just wondering.

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    • Those big buys by professional investment companies hardly move the stock. What you need to cause the price goes up is retail purchase, like me and you guys. Market makers know who is buying. Even some those big buys do not happen in open market. I believe this stock has established the base around 2 dollars but I guess one year target is around 3-3.50 dollars. A couple of months ago I said that the value of this company could be around 300 million in a year even before that analyst says 3 dollar price thing. Well I am still saying this that the value of PIR is around 300 million in a year. Therefore if you are long investor then the return is goo but if you are day traders then you got to move to other areas like bio tech which of course they have their own risks.

    • They are listed as insiders because it is basically one individual that owns more than 10%.
      Some greek rich guy living in San juan P.R.
      The investment corporation is him, his wife and kid.

      I guess if they wanted to, they could ddemand a seat on the board. I'm curious how much money they have, since they have propped up this stock price by buying at ~$2 for the last month collecting an addtional 1.3 million shares. Wonder what happens when they can no longer suck up all the extra shares that PIR registered and is selling out of the treasury stock?

      • 1 Reply to angry_hippo
      • Not sure I would even remotely call buying 1.3 million shares "propping up" this stock. Way too much volume for a comment like that.

        Nice to see the insider buys -- but hardly enough to make a difference in the stock price day to day. Certainly would make a difference in a small band of time - but it would be insignificant over the coarse of even a day on this one. The OBV (on balance volume)is pretty even.

        One nice thing about PIR though is the day to day liquidity in the stock. Nice to know you can put on a nice position and not be locked. The stock flow on both sides is healthy. Pier stock is known on the street as "efficient". That's a good thing.

        Last thing - there many reasons to sell a stock - but only 1 reason to buy. You think it is going up. So right or wrong - Greek Investments must believe their cash will be worth more in PIR stock.

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