$112.5 M EBITDA midpoint for 2013
$360 M in net debt
$187 M market cap ($6.80 stock price)
It would seem that if the thing is worth 6x in a buyout, that we could be sold for $11+. I still think, with the stock trading for its current price, that the Mereulos and Clintons of the world would rather have a bird in the hand of a 50%+ premium, from current prices, were the company to be sold, and I have to believe there is a buyer out there at that price.
If my math is correct, Clinton owns it at $10.10 avg.
$20,165,000 & 1,996,077 shares = 7.2%
Clinton currently holds options on 1,900 shares of Common Stock with an exercise date of April 20, 2013 and a strike price of $10.00.
Clinton has sold options on (i) 1,527,800 shares of Common Stock with an exercise date of March 16, 2013 and a strike price ranging from $7.50 to $15.00; and (ii) 150,200 shares of Common Stock with an exercise date of June 22, 2013 and a strike price of $10.00.
Im not aware of the history here. But it looks like Clinton has 2 board seats. But, I think Ginsburg still makes the decisions.
I got in at $6.01 thinking $6 might hold. It didnt. But, it didnt fall to $5.51 where I had an order to buy more.
I guess I need to read back in their SEC filings farther. Im just thu 1/29/13
Looks to me like they have a nice history of making money. Except they are barely going to be in the black THIS year. Who knows for next year ?
I would certainly hope so... bought more at 6, with its online division positive trending and huge short interest , I would certainly hope for some run up to say at least 8. I am a bit surprised that there isn't more of insider buying last month.