They are doing the Texas Two Step again.........taking it down now to get the weak hands and stop orders. First 40,000 shares were $7.05+. IMVHO only a slow and gradual move up with pullbacks to get cheap shares. under accumulation without spiking the price too much at one time. DaninFW
Sentiment: Strong Buy
$USCR: Institutional investors increased their holdings in USCR by 5.96% Q/Q, with 517,444 net purchase. 95 institutions have a holding in USCR shares. These institutional investors hold 60% of USCR's total shares and 80% of its float. Insiders and 5% owners hold 25% of USCR shares.
Sentiment: Strong Buy
Boy, the Texas Two Step just like I said on Friday. They took it down to take out the weak hands and all the stops down to $6.84........Long Term I see it up many dollars but a great trading stock. I got curious Friday and I had bought and sold so many times a 30,000 block in one of my trading accounts that I decided to do it again to see what happened. I had bought it at $6.19-$6.55 for an average of $6.30 over the last month or so, I believe last 2-3 weeks but I would have to check. It was bidding 1,000 to buy at $7.09 and a few thousand for sale at $7.10.......I put the order in and sold about half at $7.09 to $7.095.......it dropped to $7.05 and bounced right back up in about 10 minutes or so to take out the rest of it and then closed at $7.06. I have said a few times before I am about ready to be the market maker in this stock. I will replace the 30,000 sold on any weakness. If it keeps going up I still have 190,000 shares left. Friday confirmed to me we still have a big buyer. When they drop the price next time they will be competing with me. GLTA DaninFW
Sentiment: Strong Buy
I mentioned the issue with LPTV owners and how they are getting zero from the auction. There was an article out Friday where the spectrum buyers and sellers all sent a letter to the FCC requesting the auction happen in Q1. However, the LPTV guys said a month or so back that if they don't get consideration they will file a lawsuit when the NAB/SBGI lawsuit is resolved which alone would push the auction back 6 months. The first lawsuit is scheduled to be settled any time now. That also could change the time table depending on who wins. My point is I have seen nothing offered to placate the LPTV owners. I think that is why sector is not popping because of spectrum. Looks like Q3 not Q1 to me if I was a betting man. We may see a pop in the sector when the NAB/SBGI lawsuit is resolved......but then a drop if the LPTV owners do as threatened. Great trading stock. Be on your toes. DaninFW
The outer band of the $7.15 last resistance is $7.28 and looks like we are ready to pop some more today. The buyers are very smart and doing the Texas Two Step again and again. We are in uncharted waters here. If we close at this level we will hit a bunch of technical charts tomorrow focusing on current breakout which could bring even more interest to EVC. Looks like a new 52 week high by end of week if not sooner. DaninFW
I think the next time WF makes a buy it will be a large block of several percent otherwise once they go over 10% they have to file any and all trades within 2 days. This looks like buyers from one on ones at Boston meeting but......the upward movement and strong buying also started two days before....IMVHO at some point it will retreat to pull back before next big pop. DaninFW
I would ad that another pop and I might sell. I look for a disappointing Q2 report and the auction to get pushed back by another lawsuit. This is not West Face IMVHO but other buyers. When they stop we drop. I will also buy back on the drop. DaninFW
closing trade was over 200,000 shares......these guys are smart. They ran it up and pulled it back and sucked in sellers that placed orders all day long after this morning for a nickel or dime above trading range.....and then ran it up to take them all out. We either have a big new owner, several starting to accumulate or West face. I don't think it was west Face but if it was the last few days, they are now over 10% and must file before Friday or on Friday perhaps after the close. They could still buy more tomorrow if today was the day they went over 10%. I don't think it was but can't rule out. Tomorrow I expect big pop at the open. DaninFW
When stock opens in the morning they will take it down 3 cents to reflect the dividend. We all are 2.5 cents richer........so at the close tomorrow it would have been 3 cents higher.
In hindsight, after listening to the last presentation again, it hit me. Many of us thought the one on ones is what popped the stock and it probably was. He said that the first priority after the auction was to pay off debt and then something for shareholders and if I remember correctly some possible M&A. That sends a distinct signal they plan to get well over $400 million because that's their debt level. All the analysts expect less than $200 million. But, if this was a year or so ago and someone offered $12 a share they would be running for the exits. Now they say they want to maintain cash flow, EPS, etc. and only sell spectrum they don't need? BY any calculation if they decided to sell out 100% they could get easily $1.8 billion for spectrum and possibly $2.7 billion. Forget the $4-5 billion that could happen. That's $20-30 a share and throw in $2-3 to sell radio, mobile and digital. That's $22-33 a share minus debt of $4 per share and we have $18-29 a share. Why in the hell would they not go for the whole enchilada? This company was only worth $9-10 a share last year during merger mania. They could get out of broadcasting and easily double or triple what they would have gotten last year. The fact that the CFO made zero stock repurchases in Q1 and said they were waiting for "opportunistic" buybacks.......well they themselves don't think $6.30-$6.50 was a good buyback a few weeks ago? What am I missing from these idiots? We should be filing a class action and suing the bunch of them breach of fiduciary responsibility. In summation, if they do what they say and payoff debt, that saves about $20 million in debt next year when their rates rise so they would be a $75-$85 million in FCF company a year with zero debt. That makes EVC worth $9-10 a share plus any special payout of say $3-5 if they get $800-900 million in spectrum proceeds. That makes EVC worth $12-15 if incompetent management misses this once in a lifetime event. DaninFW
I have been giving it some thought for several weeks now but IMVHO we have potentially two great reasons to possibly file a class action lawsuit. 1) if Univision was to in any way hamper or not allow EVC to maximize their spectrum sales to the detriment of the company or current shareholders I would think we could file a lawsuit against Univision for irreparable harm and damage. That would really go well with their plans for an IPO. 2) if the CEO because of his super voting stock and many conflicts of interests did not vote his shares in the best interest of EVC shareholders he might need that half billion he's going to get for selling his spectum in the L.A. station. to pay the rest of us. Any thoughts out there? I have real problems with EVC management not liquidating all assets if they are worth the billions as purported. If they breach fiduciary responsibility just so they keep getting their big payoffs.....that's a real problem. DaninFW
I have posted two messages why I think this thing isn't going to really rocket anytime soon. I plan to trade this thing shortly unless we get some real news. I see no catalysts to maintain current momentum. I think the odds are at least 50/50 the auction could get pushed back as well. DaninFW