it was Russell reshuffling day - many stocks had ridiculous volume on the close or immediately after the close...generally all in one or two trades. AP was removed so there was a lot of volume as those index funds holding shares exited.
google for "2015 russell index additions deletions" and then go to the first link.
from the page on the Russell website, in the left menu, choose "Index additions and deletions» "
in the table returned, you can click on the index and Additions or Deletions and see what was changed. If you check Russell Global and Russell 3000 for the Deletions, you'll see AP in both.
davebugs, you are so right about this thinly traded stock. I've been watching Level 2 this week and how the shares move...there are definitely algo systems playing with it and forcing the shares lower.
but that's actually ok by me. I've wanted to buy shares previously. I've seen the insider purchasing, previously reviewed the financials, and am well aware of the business situation. throw in Mario owning over 20% of the shares, the pile of cash, and the secure dividend approaching 5% - what's not to like?
so, I say let the algo systems play their games ... I'm needing more shares in my portfolio...I've been sitting on lots of cash just waiting to put it in to some solid companies that have been unjustly trashed and this is certainly one of them.
will we get to buy shares below $15? I bought just above $15, so if we're going lower, let's make it a nice amount lower - say $13.75 to $14.00. I won't get my hopes up though.
you've been posting the same for well over a year now. you are throwing stones before the company returned to profitability, now you're throwing stones not allowing things to play out. company will post 20 cents/share profits this year and continue paying the 5%+ dividend - that is better than McDonalds - same PE, better growth rate, better dividend, no debt. come 2016, DRAD EPS will be up another 25% to 50% and MCD will be lucky to have been flat year over year. who cares what the PE is at this moment? do you drive your car only looking in the rearview mirror?
in Dec 2013, you posted:
"Chairman Eberwein was program buying on a consistent basis from May 2012 up until Oct 8, 2013 @ $2.73. Now no more buys. Must feel that it has gotten expensive?"
That proved to be wrong on both points.
It sounds like you have a personal issue with the company and want to view everything in a negative light...which is fine, but it appears more and more that you've been burned on the stock and are now posting as retribution for your losses.
Company is profitable and paying over 5% dividend now. The company has sufficient cost controls in place and is moving forward with profitable growth. That is the key to successful turnarounds. The company is out of the danger zone. So long as they post profits quarter after quarter, shareholders can sit back and be patient - the dividend is paying them to do so.
The more shares trend lower, the bigger the buying opportunity - we saw the same last year...as the year progresses the shares will likewise move up as they did last year as well.
Sorry for whatever problem you personally had in the past with the company - that is old history, not the future.
5% dividend is a good place to be buying. Company will earn 20 cents/share for the year and 2016 will show continued growth. Then there is always the potential for surprises along the way...who knows what Eberwein might have up his sleeve?
Buying at $4.00 and lower...Eberwein has our back at $3.50.
wonder how much lower it will go after the dump this time?
Eberwein is head of Lone Star Value Management. They are a fund specifically focused on turnarounds and deep value plays. They go into companies that are poorly run, they shake things up, cut costs and overhead, return the company to profitability, and all shareholders win. Eberwein has a very high success record. He received his training working for Soros. I've been involved with 3 Eberwein situations over the past 2 years and all have worked out very well. He is very good at what he does. Considering the investment that was made and that Climaco remains on both boards, my belief is that any involvement by Eberwein/DRAD is on very friendly terms.
hansyklerk - I have no idea what the end game is. However, for Eberwein/DRAD to make the investment in the Tc-99m company is an indication that one way or another they intend to benefit by significantly more than the amount of the investment. I know Eberwein and how he operates. Should PESI shares continue to stagnate, it would not be out of the question for Eberwein to make a large (and continued) investment via share purchase or an offer for all of PESI outright.
again, they cannot do anything right now (or in the past two weeks) because it is the period between end of the quarter and the earnings announcement. when did the price fall below $4?
a buyback is no different (from a legal perspective) from insider buying - it cannot happen in the period between end of quarter and the earnings announcement. as I previously pointed out, bears and shorts do take advantage of these opportunities because there is little the company can do until the earnings are announced.
and so in the mean time, until we know more, I go with trusting management - the management team that has turned this around over the past year, returned the company to profitability, and has consistently been buying shares, even a few weeks ago at $4.50 and $4.60.
I assure you, for the roughly 200,000 shares that traded in the past two weeks since the shares were at $4, it wasn't because of this "doubt".
compare with financial metrics and balance sheet for LTS and then tell us where the shares would be appropriately valued in your view - even with your reduced earnings scenario.
When the shares were trading in the 40 to 60 cent range, you had people playing games...jumping in/out for fractions of a penny. That game has been shut down, as anticipated.
Now, the low liquidity is actually a sign that the shares are in stronger hands - most are not trading, but rather holding. Unfortunately, the result is that for the few who are looking to sell (many of these people who were playing the in/out game for fractions of a penny but are not holding what they never really intended to be holding), there are not a lot of buyers and there has been little promotion of the company/shares to this point to get it on the radar of more investors.
As I pointed out in my prior post, at this moment there's the added issue of being in this dead period between quarter end and the earnings announcement where there's no communication from the company and insiders cannot buy shares - and people who know this company and management know they would be buying lots if they could.
I am taking advantage of it all picking up shares daily and will continue so long as this game is going to be played.
I'm certain that over the next 6 months, management will look to attend some investor conferences and take more actions to boost the visibility of the company/shares. At this time, having seen the turnaround that's taken place over the past year, I'm happy to be buying and just wait this out as the shares are a great value at this time as the company continues to strengthen and post profits.