that is a big increase. Yet, stock is going no where
I say it should breach $11. I would assume the buyback can start tomorrow (3 days after earnings report). I would also assume they would want to buy back as many shares before going ex-dividend (March 13)
Let's just say as non-accountants that possibly normalized earnings are 10c due to investment in Medallion Bank is backed out. don's argument is that aside from all the money they made in that bank and all the money they have, they don't have enough other money to pay their stuff. Kind of like saying aside from the money in your wallet, you don't have enough change in your pockets to buy something
that assumes Jagid's 500K shares are available and insiders as a whole only have about 1M shares with total outstanding of 13M.
Explains lack of volume as they are basically almost no shares available to trade. How did Sterling buy 1M+ shares last quarter without raising the share price? If another 1M new holder wanted in, in theory the share price should rise at least 25%. The key is to find new institutions who actually stick around for more than 6-12 months
the numbers keep getting worse. Big fall off in coin volumes. Last year by this date in Feb, had 146K coins, this year 109K. YTD last yr was 352K, this year 302K. Can't see how they can make up such huge volumes with price rises.
adding in some of the smaller institutions pushes their holdings to 7.8M shares. Add in 1M+ from insiders and float is 4M shares. No wonder volume is so small. There are no shares to trade
Ironically, shorters are actually allowing the company to buy back more shares at lower prices. Would be nice if they could buy another 500K shares before going ex-dividend
yahoo should do a better job on the ignore feature. Ignore should mean invisible. I don't want to see 10 threads at the bottom of the list that are ignore. I want ignore to mean that they don't exist to me.
this is about 2% of reported outstanding. Yet the Q4 shares only decreased by 75K in the report due to the buybacks coming near end of qtr. Would have increased earnings by 1c. Will save $138K in dividend payments/qtr due to reduced share count
Uber does little to hurt yellow taxi profits
Uber’s plot to disrupt the yellow cab business in the Big Apple has helped bring down the cost of a taxi medallion by 20 percent — but it hasn’t dented the financier of those valuable licenses, the company reported Tuesday.
Medallion Financial Corp., the dominant lender for New York City taxi medallions, reported fourth-quarter profits grew 22 percent from the same period a year earlier.
In addition, while many cab drivers find their medallion investment underwater because the of sharp drop in medallion prices, not a single medallion loan was more than 90 days past due as of Dec. 31, the company said.
With the surprisingly strong results, Medallion — whose shares were beaten down from a 52-week high of $14.75 to around $9 last month amid reports of the Uber invasion and falling medallion prices — saw its stock jump 6.8 percent on Tuesday, to $10.59.
“Uber is a good product,” Medallion Financial CEO Andrew Murstein told The Post. “But it’s not going to hurt the cab industry in any city where you can stand on a street corner and raise your hand and get not one, but five cabs.”
Hurt, of course, is relative.
Medallion owners have seen the value of their investment fall from a high of $1.05 million in June 2013 to $800,000 last month.
Bearish investors have argued that falling medallion prices signal growing alarm that ride-hailing apps like Uber are siphoning away fares from yellow cabs.
While medallions — the plastic badge attached to every yellow cab’s hood, allowing them to pick hails — have fallen 20 percent, fares collected by taxi drivers fell just 4 percent last year from 2013, Taxi and Limousine Commission figures reveal.
Emancipation Capital 1.163M
Sterling Capital 1.053M
Avis 1M (shares are not registered and can't be sold)
Dimensional Funds 567K
Manatuck Hill Partners 439K
All told, about 7.1M+ shares by institutions. another 1M+ by insiders. leaves a float of 4.9M or less shares
about 1.3M (10% of outstanding) net new shares bought last quarter yet stock price went down 10%. Someone got squeezed badly. Had to be someone who just wanted out and is stupid. Leaves one person...Jagid
Osmium bought 229K shares and now has over 900K shares. And they are only the 4th largest holder. we have 3 1M+ share holders
don't ley billy fool you. He will sell next run up too. You watch. He will be telling everyone to buy while he is doing that. Remember how negative he was on this before he said he bought. He will turn on a dime as soon as his last share is sold.
I own 2K shares. I've said this 100 times. This is a stock near BK. Owning anymore than that is gambling
yes, without question. The company is better at selling their stock than their product. Reminds my Xybernaught back in the 90's.
the next dividend after this one is only 2 months after this goes ex-dividend (this one is 4 months from last). With buyback and dividends and no defaults, I see this over $11 within 30 days and possibly to $12 within 60 days