For whatever reason, and for who-Evers fault, there are no dividends and the market cap is not high enough. Period. No disputing, the company has an intrinsic value well in excess of current price pet share. It is fiduciary irresponsibility for the board of swhc to allow capital to languish.. The solution: sell the company and obtain the value for the shareholders. After all, a company of this size is best held privately without question or reservation.
For those that bring up the fact that value has appreciated over the years, I say great, but still not good enough. Management should not be rewarded because they got it half right and shareholders should not settle for mediocre performance.
Hey. Private equity can keep management. Most of the valuation problem is outside of management's control. The issue still remains, shareholders are getting screwed. Solution: sell it, turn it private to owners who would be satisfied with returns. This company is too small to be public anyways.