Iconix Brands: This $7 Turnaround Stock Has Insider Buying And Strong Upside Potential
May 24, 2016 4:24 PM ET| About: Iconix Brand Group, Inc. (ICON), Includes: DHXM, DIS
Hawkinvest Hawkinvest⊕Follow(4,902 followers)
Value, growth at reasonable price, contrarian, growth
Many retail sector stocks have been hit hard in the past couple of weeks and this has created buying opportunities.
Iconix Brand stock was hammered last year after it announced a restatement, but it is now moving past these problems.
Many shorts jumped into this stock hoping for a worst-case scenario, but that has not happened, and now a major short squeeze is possible.
This company has a strong management team which includes Peter Cuneo, and he has a great record with turnaround situations.
With a PE ratio of just around 6 times earnings, and recent insider buying, it makes sense for investors to take a fresh look at this stock.
Iconix Brand Group, Inc. (NASDAQ:ICON) owns and manages a wide range of famous brands which it licenses to other companies. Iconix grew rapidly over the past several years by acquiring additional brands, but hit a major roadblock last year when it disclosed it would restate financials. This also prompted an SEC investigation and that caused panic selling from many shareholders as well as very significant short selling. However, it is time for investors to give this company and the stock a fresh look, because many issues have been resolved, the current management team appears to be executing, the Chairman is buying stock now and he has a stellar track record in turnarounds. Plus, the stock is dirt cheap with significant upside potential.
Over the years, this company acquired many brands which includes names like: Candie's, Pony, The Sharper Image, London Fog, Peanuts, Royal Velvet, Cannon, Lee Cooper, Mossimo, Rocawear, Bongo, Waverly, Joe Boxer, Ed Hardy, Fieldcrest, Danskin, Umbro, Strawberry Shortcake, and more. Annual revenues were around $30
conix Brand Group, Inc. (ICON): David Blumberg , EVP – Chief Strategy Officer of Iconix Brand Group, Inc. sold 11,000 shares on May 19, 2016. The Insider selling transaction was reported by the company on May 20, 2016 to the Securities and Exchange Commission. The shares were sold at $7.61 per share for a total value of $83,737.50 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on May 11, 2016, F Peter Cuneo (Executive Chairman) purchased 50,000 shares at $7.99 per share price.On May 11, 2016, David Blumberg (EVP – Chief Strategy Officer) sold 20,830 shares at $8.27 per share price.Also, On Apr 15, 2016, Plc Barclays (10% owner) purchased 3,000 shares at $8.45 per share price.
Shares of Iconix Brand Group Inc (ICON) ended Thursday, May 19, 2016 session in red amid volatile trading. The shares closed dow
Like them both BUT it will be a great sign if some execs reached into their pockets to buy stock and not just rely on options
Why ?? because nothing goes up in a straight line This was 100 a couple weeks ago Get back to me in a few months when it's 130+
Apple is dealing with a rising challenge to its supremacy as the world’s largest public company by market value, from Google parent Alphabet.
But Apple remains the undisputed king of corporate cash. The iPhone maker had an unrivaled $216 billion socked away at the end of 2015.
if lol you made your own decisions you think others didn't too Just because you lost your shirt don't blame me You had a chance to get out and btw buy a new shirt The one you were wearing smelled bad
K man I pay more in taxes than you'd earn in 4 years Now go away and leave us investors alone
Content, distribution and licensing agreements signed on much-loved girls' brand
HALIFAX , May 17, 2016 /CNW/ - DHX Media ("DHX" or the "Company") (NASDAQ: DHXM; TSX: DHX.A, DHX.B), the world's leading independent, pure-play kids content company, and Iconix Brand Group ("Iconix") (ICON), have entered into a long-term agreement to co-develop and co-produce a new animated series based on the iconic entertainment toy brand, Strawberry Shortcake. The new content will be produced and globally distributed by DHX Media. Iconix will handle worldwide merchandising and licensing for the brand, with DHX's international licensing agency, CPLG, holding first right of negotiation to represent the brand in certain territories. Iconix and DHX will both participate on all revenue streams related to this agreement
In an additional deal, DHX also becomes the exclusive, global distributor for the Strawberry Shortcake back catalogue, adding 108 half-hours to the 8 half-hours of Strawberry Shortcake content already in the DHX distribution library.
Dana Landry , Chief Executive Officer of DHX, stated: "This agreement to grow Strawberry Shortcake continues our strategy of partnering on world-leading brands to generate new, high-quality content for distribution around the world, and to participate in consumer product offerings for such properties. We are excited to collaborate with Iconix Brand Group to leverage our animation expertise, distribution reach and merchandising and licensing capabilities to drive new global growth for this perennial girls' brand."
I agree 1000% with you That &^%$%^& bought back stock so price would increase so the stock they gave themselves increased and then the *&^&*(& sold out He better be getting investigated by the sec Or I start calling lawyers
Conclusion - Apple Shares Are A Bargain, Potentially A Remarkable One
It was not long ago that everyone was talking about Apple being the first company to cross the $1 trillion threshold in market capitalization. Not only did the company not get there, it has gone backwards, and today trades at its cheapest valuation levels in a decade.
Apple shares are cheap relative to the S&P 500 Index, relative to their own history, and they are cheap relative to their historic multiples of the S&P 500 Index. This is true for price-to-earnings, price-to-book value, price-to-sales, and price-to-cash flow ratios.
At a market capitalization of $494 billion, Apple shares are comically inexpensive compared to Alphabet ($500 billion market capitalization), Amazon ($339 billion market capitalization), Facebook ($344 billion market capitalization), and Microsoft ($405 billion market capitalization).
With a fair value of somewhere between $133 per share, and potentially higher, especially in the case of a rebound in China, Apple has upside potential of roughly 48% or more, making the second largest market capitalization company in the world undervalued in plain sight, as many hedge fund managers and institutional investors prefer to sit on the sidelines.
There are significant risks to Apple shares including premium pricing risk, significant competitor risk and the risk of technology obsolesce. Even acknowledging these risks, and going in with the understanding that a P/E of 10 is not cheap if earnings are declining, Apple shares look like an interesting contrarian set-up for the opportunistic, value oriented investor. Additionally, shares of Apple could potentially be employed as a pair trade candidate against the S&P 500 Index or against one of its more overvalued mega-capitalization technology peers. Long AAPL.
The shares of the brand management company have gained 14% since the beginning of 2016, but are down by 71% over the past 52 weeks. David Keidan’s Buckingham Capital Management acquired a stake of 570,000 shares of Iconix Brand Group Inc. (NASDAQ:ICON) during the March quarter.
Byan if I'm not in error peter when he first came to ICON years ago was the only one of those phony's to put his own money on the line