Another Activist Investor Calls For Globecomm Sales
A second activist investor has now called for Globecomm to be sold. Emancipation Capital, which holds a 5% stake, said Globecomm should re-engage investment bankers and prepare for sale to a third party.
Should be interesting to see how this plays out. If these two activist shareholders can recruit others (mostly NSB Advisors LLC) to their cause, it may force Globecomm to take action and put the company up for sale. As for me, I'm for anything that can create shareholder value... this stock has been stagnant for way to long!
If you're looking to NSB Advisors for activist "help", maybe you should look into THEIR recent performance. They are a bunch on donkeys. Look at their biggest holdings, and then take a look at those price charts for the last year. Ghastly is an understatement. You will no longer wonder why the largest shareholder of GCOM stock (as of 6/30/12) had to dump over 3.2 million shares of GCOM alone last quarter. Think they might still be dumping?
I've posted plenty about this prior to the uncharacteristic blitz of messages after the last earnings report. Short interest in GCOM is now 2, 3, 4 times normal levels. Is that normal for a company with "record performance" last year, or a company with significant "activist shareholder" buzz?
There's a LOT going on with this stock, so much so that it is completely unhinged from the fundamentals. My only solace in still holding a bit of GCOM is the substantial bump in the employee stock incentive awards that was just requested. Looks like the insiders want a payout when/if the buyout comes.