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Granite City Food & Brewery Ltd. Message Board

h8mongrel 41 posts  |  Last Activity: Mar 31, 2014 9:54 AM Member since: Apr 17, 2006
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  • Reply to

    FTC Action Against WAC due soon

    by sme20_98 Mar 24, 2014 8:04 AM
    h8mongrel h8mongrel Mar 31, 2014 9:54 AM Flag

    I didn't see any direct mention of the CFPB in today's announcement, but I have to assume they did their research and Walter was able to convince them they can handle the load. Unlike last year when Green Tree took on the GMAC portfolio and Bank of America portfolio within a 2 month span, these latest purchases will be spread out over the year, maybe into next year. This should bring steady revenue and earnings as opposed to those quarterly pops we saw last year.

  • Reply to

    CF acquisition closed

    by larry.zito Mar 17, 2014 3:01 PM
    h8mongrel h8mongrel Mar 19, 2014 9:31 AM Flag

    They file an 8K. Check the summary page headline on 3/18/14 referencing Mosaic filing an 8K. There's also a link to SEC filings on the main page in case it doesn't get published as a headline.

  • Reply to

    Anyone Selling?

    by h8mongrel Mar 6, 2014 11:22 AM
    h8mongrel h8mongrel Mar 19, 2014 9:27 AM Flag

    Just to clarify, I meant he made the wrong choice buying NSM when he could have bought WAC instead.

  • Reply to

    Anyone Selling?

    by h8mongrel Mar 6, 2014 11:22 AM
    h8mongrel h8mongrel Mar 18, 2014 4:19 PM Flag

    I'm back in the green. We rallied on news that some fund bought a bunch of NSM. I think they made the wrong choice in this sector, but I'll take the price appreciation anyway.

  • Reply to

    CF acquisition closed

    by larry.zito Mar 17, 2014 3:01 PM
    h8mongrel h8mongrel Mar 18, 2014 1:32 PM Flag

    Another 5.77M shares were purchased by the company yesterday. I think this brings the outstanding share count to about 393M. Yahoo needs to adjust the EPS number as well. I thought the company earned 2.49 in 2013.

  • Reply to

    The Board Is Now Inundated With SPAM

    by abbaman7 Mar 5, 2014 10:21 PM
    h8mongrel h8mongrel Mar 6, 2014 12:20 PM Flag

    1. The situation in Ukraine
    2. Corn prices are up
    3. Technicals - Some ag names recently broke above the 200 DMA. This often triggers automatic buying by computers.

  • h8mongrel by h8mongrel Mar 6, 2014 11:22 AM Flag

    I wouldn't fault anyone for selling on a nearly 7% pop because Lawsky is probably going to investigate WAC at some point and the stock will drop 5-10%. It's just a matter of time. I'm holding and will buy on the dip if it happens.

  • Reply to

    Short Covering or New Buyers?

    by h8mongrel Mar 5, 2014 11:20 AM
    h8mongrel h8mongrel Mar 6, 2014 11:16 AM Flag

    I actually thought about sending an email to the SEC to investigate. However, I have a feeling this guy is just on some power trip. New York is a state made up of arrogant pricks and heavy regulations. It sucks that a national company can be beaten down by one person from one state just because of a few customer complaints. If complaints were tied to all company's stock prices, Comcast and Time Warner would be lucky to see their stock prices above 1.00.

  • Reply to

    The Board Is Now Inundated With SPAM

    by abbaman7 Mar 5, 2014 10:21 PM
    h8mongrel h8mongrel Mar 6, 2014 10:13 AM Flag

    The sad part is this board has very little activity, so some genius out there decided to spam to basically no one. They probably also have a billboard in Antarctica.

  • Reply to

    Short Covering or New Buyers?

    by h8mongrel Mar 5, 2014 11:20 AM
    h8mongrel h8mongrel Mar 5, 2014 12:37 PM Flag

    Geez, Lawsky strikes again. This time it's Nationstar. This guy is killing me. He opens his mouth and we lose 5% in a second.

  • I wish I could tell which one is responsible for the increase in share price. Yahoo updated their numbers, so now it shows the actual 2013 GAAP EPS, which puts the trailing P/E near 4. Institutions may finally be realizing this stock is undervalued even when considering the regulatory concerns. A point increase every day puts me in the green by Friday.

  • Reply to

    1st Quarter Numbers can't be good

    by sme20_98 Mar 4, 2014 8:32 AM
    h8mongrel h8mongrel Mar 4, 2014 9:58 AM Flag

    The housing market is anything but slow. Even if it was slow, WAC does mostly refinances. Their purchase business adds very little to the bottom line. Interest rates are by far the biggest factor on the Originations business. If the national average on a 30 year fixed rate can get back down to 4% or lower, you'll see a huge price spike in this stock. I'm not optimistic about this quarter. I think it will be similar to last quarter.

  • h8mongrel by h8mongrel Feb 28, 2014 1:59 PM Flag

    It broke above the 200DMA intraday. Hopefully, we can close above it and put 50 in the crosshairs. Corn prices are up nicely today too.

  • Reply to

    Not Good

    by h8mongrel Feb 27, 2014 8:03 AM
    h8mongrel h8mongrel Feb 28, 2014 1:52 PM Flag

    WAC took on the bulk of MSRs in February and April 2013. GAAP EPS for the Servicing business went from 1.52 in Q2 to 0.98 in Q3 to 0.38 in Q4. I certainly lack accounting knowledge of the amortization of these MSRs, but that decrease really bothers me. I know there were increased costs in the Servicing business, but I was expecting the company to be able to make close to 4.00/share just on the Servicing business. That doesn't appear to be the case now. On the conference call, they did say they expect a 2-4 basis point increase in Servicing margin this year, but that's not much. I'll be holding my shares, but I probably won't try to average down any more at this point.

  • Reply to

    #NCM #OCN

    by igor.russs Feb 27, 2014 11:04 AM
    h8mongrel h8mongrel Feb 27, 2014 11:13 AM Flag

    NSM's EPS for 2013 was 2.40. WAC was 6.63, yet WAC trades almost 3 points lower. It's a shame.

  • Reply to

    Sell before too late going to $2

    by ss_nandha Feb 27, 2014 9:54 AM
    h8mongrel h8mongrel Feb 27, 2014 10:14 AM Flag

    Yeah, I'm sure the market cap will get to $75M even though the company earns 3 times that in a year. Moron!

  • Reply to

    Not Good

    by h8mongrel Feb 27, 2014 8:03 AM
    h8mongrel h8mongrel Feb 27, 2014 8:20 AM Flag

    Well, the pre-market price has come back quite a bit. Maybe the market will surprise me.

  • h8mongrel by h8mongrel Feb 27, 2014 8:03 AM Flag

    I read the report prior to looking at the pre-market price. After reading, I guessed the stock would be down about 10%. It was down 11%. The drop in Servicing EPS was a killer. Then a bunch of other bad numbers, followed by lower guidance for 2014. No more buying for this guy. Where's the catalyst that will send us higher? No retail investors, higher regulation, declining earnings for 2014, interest rates probably aren't going lower, etc.

  • Reply to

    Buyback Great use of cash

    by larry.zito Feb 19, 2014 11:52 AM
    h8mongrel h8mongrel Feb 25, 2014 12:34 PM Flag

    Schwab and MS must be separating out the Class A shares from the rest. My guess is they took the 297M non-Class A shares and added in the first tranche of 43M shares to get 340M. They added those shares in because the company is in the process of converting those shares to treasury shares before ultimately retiring them. 398M is the more accurate number by my calculation.

  • Reply to

    Everybody says theres a BUYING Oppty in WAC

    by sme20_98 Feb 20, 2014 8:38 AM
    h8mongrel h8mongrel Feb 20, 2014 10:28 AM Flag

    Shorts are having a field day with this sector. Close to 40% of NSM's float is short. Some dumb broad in California is now calling for more regulation. As the Seeking Alpha article said yesterday, WAC should be able to earn nearly 4.00 EPS just with it's current servicing portfolio. The regulators might try to stop future MSR purchases, but they aren't going to take current loans away from the servicers. I'm convinced that it's only a matter of time before some big investor like Buffet or Icahn will take a position in one or more of these stocks. They love to buy stocks everyone else hates. I'm going to continue buying. I can't remember the last time I saw a stock trading at a forward P/E of 4.

GCFB
1.60+0.05(+3.23%)Apr 17 11:06 AMEDT

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