The "Market Maker" covered all his shorts and now is Loooong .. meaning he is going to lead GLOG higher to 15+ again, where it should have been from the begin.
That was an historic opportunity to buy GLOG .. any buy below 15 a good buy, could get to 18+ again.
Sentiment: Strong Buy
Fri, 25 September 2015
GLOG (Buy, TP USD 20) is trading at a rare discount to NAV. Significant earnings growth coupled with a USD 4bn backlog provides comfort near-term, while still benefitting from an improved market balance longer term.
Share price should not have been let drop below NAV .. company should have declared a buy back last quarter watching the share price, all small trades below 13 $ share should have been bought back by GLOG. Small investors knowing there is company support would hold back shares.
If BG or Shell or bankrupt, I rest my case.
What a better investment than buying own share that is 50% below NAV ? ? with cash on hand they can buy the entire float and forget the dividend .. they don't have many new built coming soon, and with record low interest rates they can easily finance what's coming.
GLOG is not exposed much to "spot" market .. pretty much all tankers on long term lease, meaning business is solid and not effected much by spot market .. they should protect their share price, presently 50% below NAV (net asset value).
short interest dropped 100K from 31st August to 15th September .. meaning this not shorting but small guys are selling in distress.
Company must act in shareholder interest, by the time GLOG decides to use cash on hand to buy back shares, share price could be 5 $/share .. is this what the company wants ? ? .. small investors will be ruined and lose total confidence.
Not a wise approach .. means company does not care about shareholders.
"Mom & Pop" investors lost their shirts, lost confidence .. bad policy
It is ridiculous by GLOG management to let share price drop to this level, price now at 5 yr low .. all small investors getting wiped out .. GLOG has enough cash to buy back the float .. not wise management.
Fairview capital partners, a hedge fund, now owns 4.5m shares.
From their last filing ending June 30, they were at 2.1m shares .. meaning they doubled their position.
Sentiment: Strong Buy