The filing says 2 things. First 5 million shares that these guys owned are now owned by someone else, and second these guys are not going to buy out Talbots. It does not tell us if someone else will or when a buy out could occur.
<< They have been the big seller and Oppenheimer has been the biggest buyer during that period. >>
Curious as to why you believe that Oppenheimer has been the biggest buyer lately. Their last 13G was filed on Feb. 9 and showed them owning 8.9M shares. The latest Institutional ownership shows they increased that to 9.38M by the end of March. I can't find anything more recent to indicate they have been a big buyer the past few months.
Their latest report on TLB was issued June 8 after the last quarterly report:
Oppenheimer is out with its report today on The Talbots (NYSE: TLB), lowering its PT from $11 to $4.
In a note to clients, Oppenheimer writes, "Reducing PT to $4 from $11. PT assumes 8x EV/EBITDA, a 50% discount to historical average. Peer group trading at a 30% discount. Believe this multiple is appropriate given TLB is in the very early stages of a multi-year turnaround and expect ongoing near-term fits and starts."
I'm sure this post will be branded as bashing and the Keystone Kops will be out in force.
<< could you please explain, simple avatar, what's your agenda here ? >>
No agenda. Go back and read my posts - I have never bashed Talbots. lovegreen and buckethead (and now presumably you) insist I am short. I'm not - I'm long, hedged with options for safety. I don't care what they think - they are just typical stupid pumpers who think they rule this board.
All of you Keystone Kops get upset when anyone posts a dose of reality - like pointing out that the Wellington 13G filing is not a good thing. Or that a buyout is only a possibility, not a certainty.
How do you like your avatar, by the way?
"Must admit you're half right about my being short" direct quote from Wussy Surfing down to the SOUTH06. Yup. Shorted @ $3.06. I believe Wussy Surfing down to the SOUTH06 is alias of Chagala2001 or they are living together.
<> always Blah~ Blah~ Blah~ Okay. I am a Keystone Kop or whatever. You didn't bash the stock. DONE. Go away.. I don't care what you think. Everyone thinks you are annoying. Don't you get it? Dumbass is so full of himself.
The 13G filed yesterday simply says that Wellington now only owns about 4 million shares compared to the 8 million they owned as of 3/31/11. They have been the big seller and Oppenheimer has been the biggest buyer during that period. In my opinion Wellington is one of the worst investment groups around. They've made several HUGE mistakes and end up selling at a loss quite often the past 5 years.
Today's volume is VERY low and that is a good sign. Stock not going down much. Next few days will tell the story. If volume picks up it will be to the upside and shorts will have to cover BIG TIME!