100+ billion in total assets, 14+ billion in stockholder equity. Even if you take into account the worst case scenario in LTC business, this should be still worth half of tangible equity.
What really bugs me is that how can management not take any aggressive action when the stock is trading at less than 10% of tangible equity when broader market is near all time high?
It is unbelievable.
This stock is down in the dumps for way way too long. 10+ years. Just take a look at 10 year chart.
To be trading at a ridiculous 14% of book value when market hitting all time high is both shameful and unacceptable.
That sale was very puzzling. He is 77 so not sure if he is doing estate planning or something. But that sale really has killed the stock in the last 2 days