Actually looked pretty good today. Too bad they had to bust it back down again right at the close. Dumped it down 3 cents.
Kel...........holding a bunch, average cost now 80 cents
SFY high in Feb. 2011......$48.19
SFY high in Feb. 2013......$16.00
SFY high this month $9.75
Right now.....about $7.40.
****I know it's really worth $20+, but it's just temporarily disguised as an $8 stock. Nice Halloween costume.
Kel..........a disappointed holder
"hope management makes the right decisions"??? Why would they start now? Hope is not an investment strategy. Neither is living in a fantasy world.
I agree on that price range. The fact that the price is still in the $7s indicates that there are some problems, mostly mngt based. That will hurt any buyout price. That's why we won't approach book value up in the $20+ area. BV also coming down a little with oil / NG prices.
My average cost is in the 8.85 area. I think your $10 might be a little low, but I don't think $15 will happen either. Somewhere in the $10-13 area maybe. SFY is worth less all the time if oil / ng prices continue downward.
Looks like my 2000 trade @ .57 (#10 on your list) was the biggest trade in the last 15 minutes. It was a .57 limit, AON, day order. When I entered it the ask was .57+ with a 'size' smaller than 2000. Was a little surprised it went through.
Another 2000 shares . Now have 7000, average around .85. Somehow they managed to get another trade off after mine so they could knock it down to .54 as the closing print. Some games going on with the market maker.
davida.........read more carefully. Look at the first 5 words of my post. I'm not at all comparing SFY right now with FST right now.
The company that was willing to extend $12 million ($8.5 mil drawn so far) loan knows they will survive and eventually prosper. The corner has been turned here and that should show in the next report in about 2 weeks.
Just doubled my position @ 10.48. Did more DD on AREX over the weekend. Really like what I see here.
Market cap now about $420 million @ 10.50 area. Annual cash flow should come in around the $150 - 200 million area (wide range, I know).....but is really cheap @ 2 - 3 X cash flow. Debt less than 2 X cash flow, also a very prudent measure.
Look back a few years at their Balance sheets and cash flow statements. They were almost where SFY is now. That scares me a little. FST now being bought out by Sabine for a pittance, almost nothing. Does show what poor mngt can "accomplish."
Kel .................a SFY holder
ARIA.....strong in a weak market. Something going on that we don't know about yet.
I'm in the $12-15 camp as well. PV-10 valuations will be coming down for everyone unless oil / natgas really rally into the end of the year. You just don't get a tripling in price on an energy buyout especially with realized prices coming down and a weak hedging position in place.
If someone is holding out for top $, then most likely nothing will happen and the stock will continue to languish. Don't forget that Baker Street could become frustrated at some point and just exit their position here.
I've seen CEFs with small holdings of other CEFs. Not referring to the ones known as "fund of fund" types. Nice way to pick up some diversification, investment income, and perhaps at a discount to NAV.