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Skullcandy, Inc. Message Board

  • charlesmoscoe charlesmoscoe Aug 15, 2013 4:33 PM Flag

    Institutional Update

    Steel Partners (NYSE: SPLP) took a new position of 500k shares in SKUL.

    Also T2 Partners (Whitney Tilson) added and now hold 334,000 shares.

    Most of the 13-F forms have been filed. Can't link anymore on Yahoo but if you go to the Nasdaq site and search for SKUL its all under 'institutional holdings'.

    Big volume today.... and back to pre-earnings levels.

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    • I just noticed that Centaur Capital Partners, who is run by an associate of Whitney Tilson (T2 Partners) named Zeke Ashton, has a very considerable stake and more than doubled his position last quarter. For a $54m fund, his 455k share stake is quite large, especially considering most of his portfolio is large caps. Zeke Ashton co-manages the T2 Partners dividend fund with Whitney Tilson. Interesting...

    • So what gives? 10x option call action earlier this week. Now heavy volume buying? and no news of any kind since the expected hum-drum conference call. I'm happy. ...just wondering why the buying on such a down day. any speculative ideas?

      • 2 Replies to benshometownflooring
      • It is really behaving alot like LEAP before the AT&T offer came in. You asked for 'speculative' (which is all any of us have to go on right now anyhow) so I'm going to speculate that there is some M&A activity brewing. Its so quiet you can hear a pin drop. Even the analysts have been silent. Some estimates lowered but no comments. I follow this stock pretty closely and I do note that the up days have been on significantly higher volume than the low days. I don't pay much attention to technicals but it did 're-test' the historic low on low volume and then bounce off it on relatively heavy buying. That is technically bullish and appears orchestrated. The next piece of news (not sure if this is a catalyst or not) is refinancing of the credit line by the end of the month. Maybe why Hoby was in New York as he discussed on the call? Maybe he also met with Steel Partners when he was there? One thing for certain is that every day that goes on without all these VPs and especially the CFO being replaced will cause people to believe there is a deal in the works. Regardless, I'm pretty confident with the cost cutting and future margin benefits from the demand creation and holding back supply from some non-compliant retailers, that they can get at least $0.50 per share earnings next year, with analysts calling for only $0.21. I think theres an outside chance of $1 per share depending on the success of the rollouts of the new product lines, which would take the stock to the mid-teens.

      • My guess is either 1 - there is some kind of an agreement coming out (partnership w/lulu or Walmart or BBY etc.) 2 - The sale of the company is starting to hit the behind the doors rumor mill or 3 - The general market is going though a correction (oversold), funds/private investors pulling money out of big/mid cap stocks that have been on fire this year and parking some bucks in some oversold / beat to a pulp (cyclical plays). ZAGG spiked end of day as well. 4 - AAPL effect is in play with the bounce in that stock and peripheral companies like SKUL getting some residual action.

        Not in that order... Just some thoughts. Doesn't take many shares on the buy side to ratchet this stock up a notch or two. Wouldn't be surprised to see it break 6 again before the end of month (holding it is another story)... No complaints here

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