Last night Privet Fund nominee added to the BOD. The top 3 holders now hold approximately 50% of the total shares outstanding. 2014 will take this stock to double digits. It will be boring until then..maybe a slow grind to $5 bucks end of year 2013. They are on the right path and will continue to slowly move higher until they show us the profits!!
It is pretty obvious from the filings that Privet wants to combine them into one of their portfolio companies and Becker Drapkin would love to fold PFSWEB into NAVR...In addition, according to Austin Marxe's initial filing PFSWEB was approached but refused to engage in discussions. This company is in play and these are activists and need to accumulate up to 19.99% in the open market and then will approach the board..JMHO
agreed that i am pulling numbers but they have been consistently gaining new clients and willoughby should look out for the shareholders and trim some more fat to help bottom line. Top line should steadily grow after 2013 and we may just get huge contract now that layton is out. I would think some people just did not want to do business with him. A mint contract(ie.something large) might be right around the corner. Anyway I see i there is no reason to sell under $5 bucks this year.
buying at 4x ebitda low estimates while takeovers in the space have been between 8-10x ebitda seems very attractive for new investors..This is also at a transition year(trough) and not quite sure how big 2014 will be I think it could be $14-17 million ebitda and $20-30 in 2015 and 2016. It is cheap but wth change of leadership investors should wrm up to paying forfuture growth!!
2013 year of transition is way better than expected from prior call. New board members, headcount reduction, loss of Layton, strong shareholders(activists) and possible takeover at prior EBITDA multiples with the outlook for a strong 2015 translates into a really chea stock on any metric you want to look at it. This company is going higher and should end year around $5. 5-6 x ebitda
WOW!!!That is all I could say...new board members over the next few weeks and possibly a sale!!!This company will be off the board at $6 this year or higher if they remain independent over the coming years. We just earned an extra 4 cents a share for 2013 with Layton out. This should gap open to $4 tomorrow morning and with decent earnings maybe higher. The real question is who made this push to get him out..Special situations, becker, or privet fund.