With the 17.1 million WNR shares paid out to NTI unit holders, the float is now 83.4 million shares. So, roughly 16% are shorted. Still could produce about three days of panic buying. Lets hope it happens in August!
What it says is that, what WNR paid for NTI in additional debt and shares outstanding equals the current full value of NTI.
Foster owns about 4 million shares of WNR including his recent purchase of 500,000 shares. He may have owned 18% back in the days, but that was years ago. So, he owned about 4.4% of WNR prior to the recent dilution from the NTI merger.
HI jet, and I can't remember if the auto sales where monthly or quarterly, but he was set on taking cash out and reducing his very high ownership.
Sorry, but that's not the way it works. Common sense says that if you pay less for your raw materials profits should go up. But in this business falling crude prices result in lower margins due to falling pump prices, but the refinery operating costs remain the same.
I'm back in. Bought some Sept 20 calls during the BREXIT scare. Figured Sept was a lucky bet since that's where Bogey is :)
mikiecrusher, you are the king magnet for thumbs down ratings on this board. Kind of sad you can't request a WNR stock related reply from a long-time member of the board without getting hit by five thumbs down votes. It sure smacks of bullying to me. Enjoy your freedom!
Those were the days! Thanks again to you and Mikie for the lead to the small Pharma company. I made a huge killing on both shares and options when they were bought out. :))
WNR should do OK in Q2 earnings. Not like Q2-Q3, 2015, but much better then Q1, 2016. NTI is an unknown for Q2 because of all the process construction going on. I'm not sure if that has affected production levels. Gross gasoline margins are good in both areas despite the glut of gasoline in storage. That storage glut may become a problem in Q3.
Bottom line, I'm thinking $24/share by Aug. 4th with PPS growth in Q3. GLTY
I think they belong to Henri. Like that other Henry, his friend the ham operator :)
WNR presented Tuesday at the JPMorgan conference a wealth of info. on the new merged NTI/WNR+wnrl. They released it the night before, hence the run up on heavy volume Tuesday.
Just a long term play based on beaten down stock. Anyone who has been here for awhile knows Foster has been reducing his ownership in WNR through automatic sales for at least the last five years. I'm sure he just decided the price is far too low and spent a little of his wealth to pick up shares on the cheap (along with Stevens), which is also reassuring to stockholder.