that means CONNs doing well in new markets away from Core...and comp sales way up..check it yourself..give store a call..
I happen to own a 300 year Samurai sword
"A warrior is worthless unless he rises above others and stands strong in the midst of a storm"
the share price is the same as it was in April 2013
"PT remains $82. With strong top-line growth and the ability to recover within its
credit segment, we believe CONN shares should enjoy a hybrid multiple reflective
of both the company’s retail and credit segments. We are maintaining a (FY15)
P/EBITDA multiple of about 11x"..in other words..a PE in between a retail PE and a financing PE
Currently the share price is half of fy15 price target, and B Riley has been the most accurate of any of them in terms of earnings over the years..what happens when they model out fy 16? Over 100 ? That is coming up fast ..maybe even after this qtr's earnings
I've never seen a short effort like this...shorts know earnings are flying higher and delinquencies are going lower...craziest thing I've ever seen...
This reminds me when they beat up GMCR even when the earnings were strong..short pummeled it and then bought the shares...at 18..now its 120
MS just added 800k shares of CONN and now own 5%...Greenlight, Luxor Stephens own 28%...they are accumulating...how may company are building 10 units a year (successful with an ROI off the charts) with comp sales over 10%??
I think we are getting to the point of them letting it go...there are only few shares left that are not already in the hands of these big institutions...this reminds me so much of GMCR..... and CONNS forwarded earnings are higher than GMCR...once the street is convinced again they can manage their business like they did with GMCR, this is going back to 25x or higher FY 16 earnings..not the current 8.5x FY 16 earnings....this is not sub prime..I agree with another poster..it is high yield afte loan loss provisions..Moody's see no problem with the company in a bad economy..then I can guarantee you these institutions don't see a problem either
Only a couple of us little guys left..everyone else has been smoked...only big institutions can manage a stock like this..I'm waiting for the nuclear explosion..the last Samurai
how long can they keep it under 5x EBITDA
with strong buys froim most analysts and 65 dollar price targets and no warnings going into earnings with qtr after qtr of impressive earnings growth
....they bought on the 18th..that cannot be bas news
lets bring it to 4x 300M 2015 EBITDA (FY 16)
on the second qtr call on Sept 5th 2013
Same store sales growth 15% to 20%
• New store openings 10 to 12 stores
• Retail gross margin 37.5% to 38.5%
• Credit portfolio interest and fee yield 17.8% to 18.1%
• Provision for bad debts as % average portfolio balance 8.5% to 9.0%
• SG&A expense as % of total revenues 28.0% to 29.0%
• Diluted EPS $2.50 to $2.65
new store opening 10 to 12
Retail gross margin 41.5%
Credit card portfolio and yield 18%
Provision for bad debt lowe at 7.5 to 8.5%
S&G at 26 to 27%
Diluted EPS 3.50 to 3.70
Insiders bought big at 40 so we are huge resistence point
Luxor and Greenlight now own over 9%
So the stock is 20 point lower or 1/3 and the share EPS is 1/3 higher even with these huge players buying
that's a 66% spread LOWER and there is no bad news and a 35% earnings growth rate..company continues to spin on all cylinders
the forward earnings are 4.50 per share and the forward EBITDA is 300m or way less than 5x...
Honestly. MS just added 800k shares
#$%$..IMO the stock is being fraudulent traded
National Securites Holding Corporation and VFiance Investments for possible SEC violations
Unless they were a dark pool block sale, they purchased between 42 and 46 dollars per share to accumulate that much..defuinely put a floor on the stock..insiders previously boiought big at 40...
It appears they are acquiring enough shares for a takeover..MS is now involved..at 5% ownership
just filed the 13G
An amazing 84.4 percent of the O/S is owned by Institutions and Mutual funds as reported on CNBC
This does not include all the employees who own shares; long term shareholders and other smaller institutional and mutual fund positions..at the bare minimum, this would be an additional 7% of the O/S
This means at least 90%+++ is owned by strong hands YET 35% OF THE FLOAT IS SHORT!
THIS MEANS THAT SHORTS CAN'T FIND ANY AVAILABLE SHARES TO COVER..EVEN IF THE SHARE PRICE MOVES TO 70, MOST OF THESE FOLKS ARE STILL NOT SELLING
Frankly, I do not know how this situation is going to be resolved....shorts will eventually have to cover but at what price?? There are no shares for them to cover!!