Nam Tai Property Inc. (NYSE:NTP): The 1.95% of the US long portfolio NTP stake was increased by more than one-third in Q1 2014 at prices between $5.59 and $7.27. Last quarter saw an about-turn as the position was reduced by 21% at prices between $4.18 and $6.07. This quarter saw minor additional trimming. The stock currently trades at $5. The original position was a ~2% (~400K shares) stake established in 2001.
Note: Kahn controls 6.85% of the business through his ownership of just over 2.9M shares of NTP.
I agree, this is very interesting move. I kind of expected something like this. Stock hitting all time lows as this type of project takes time. The stock market is not patience. This offer is just basically another stock buyback offer that replaces the one that expired last fall. NTP is getting these shares very cheap.
I wonder if the big holders (Kahn Brothers) will bite on it. I expect not. It the little fish here that usually take the bait.
Once the permits get issued, things will brighten up. I am in for 6K shares and will hold most likely for 2 more years. Ugh.