CEO Chris Pappas was the likely buyer. we should find out by late tomorrow afternoon if that's the case.
one block that big? I wonder who was the buyer? could you provide the link showing the cross of the 498k shares?
Volume always precedes price. Luby's volume today, at over 500,000 is the most it has seen in over a year. You know who the big buyer is? THE CEO as always!
wildbeenyheeth: don't make fun of me because I am homeless. Getting joy from someone else's sorrow, does not say much about you. Once I get off the bottle and obtain a few bucks in my pocket, I could climb out of my hole. Until then, Have a little compassion for your fellow man.
if the company has intrinsic vale of $7, then why on earth would the shareholder's sell at $4.40? The CEO is not going to do anything illegal, he has too much to lose. Nobody in their right mind would stand for such shenanigans-especially the SEC. To get this private. he would have to offer a big fat premium.
take it private for a discount? I don't think it works that way. That would create too many lawsuits. Name one situation where a CEO took a company private, by offering a discount? They always offer a premium.
It makes perfect sense. The CEO could integrate Luby's 200 units into his personal 95 restaurant holdings. This would create a leaner, meaner enterprise with lots of untapped real estate value for the taking. Duplicate departments could be eliminated and costs would fall. In a few years, he could then sell the entire enterprise in an IPO, at three times the price-A brilliant maneuver for sure. It is time to piggyback on his strategy and go along for the ride.
Despite nearly a 50% price cut, Not one single solitary insider has purchased shares in the open market. There is simply no confidence in this name. Once insiders begin to buy, that will signal me to do the same.
He has certainly been giving it the old college try. The guy has shelled out over $3.3 million of his own hard earned cash,buying shares in the open market during the past eight months. Why does he have such an appetite for his company's stock in the first place? Rather odd, don't you think? What is his agenda here?
13F's are due by Aug. 15th. Institutions are not required to report their holdings unless their total value exceeds $100 million...