I purchased this stock between 3.50 - 4.00 for one reason....it was a great value play. There is $3sh in cash and enough working capital to completely buy back the company. The company made .39 sh which makes this a profitable business to boot. What that means is right now there in absoluely zero risk in owning this stock.
Then I listened to the conference call and was sickened by the lack of response to three consecutive callers suggesting the company buy back stock. Each opined that the stock was not getting its proper due and suggested the company acquire shares based on the lack of confidence by investors in BTN The company refused to even discuss the topic..... Only suggesting earlier they are looking for key strategic investment opportunities.
I've seen this before.....management blinded by the obvious. Whenever I see this I can be sure of one thing......management does not have much of a stake in the company. Sure enough that turned out to be the case. Management owns a whopping 3% of the business and I'll bet about 2% of that was conveniently assigned due to their great stewardship. Don't get me wrong, I respect the way this company is managed and the enviable financial position they are in, but it is obvious that the best place to disperse capital is in the currently under appreciated shares of BTN.