Not sure Wintergreen's interests align with my own. I got the impression that they said shareholder value when they meant share price. They certainly have a large stake and that could mean a number of things. I have no problem with the process of exploring a sale, but am skeptical of a proposal that is not accompanied by any analysis.
The company has been performing wonderfully. How could you lose faith in the company. The share price has performed miserably. Markets are fickle (due to those who participate in them). As difficult as it is to explain the price drop, it will be equally difficult to explain the next surge. Take it for what it is. As long as the company keeps executing like they have been the price will work itself out.
I couldn't help myself and added shares. I sold a similar amount (15%) when the prices were in the 60's and 70's. I am overweighted ATRO, but at these prices it is too tempting. The company has seen margins widen and the business has always been lumpy. The research happens a big contract is signed and revenues bump up. Next year revenues will be only up marginally, but the company has nearly 10% net margins. This is a jewel.
The company is executing on their plan and making solid progress on closing a number of large deals. The next year should see a whole basket load of cash delivered to the company. It will be a great time to be a shareholder.