United Fire Group, Inc Message Board
-
I'm puzzled. Why title your post $6 tangible book when you're bearish?
-
I've been studying this company to make a major investment but I concluded that it is worth about $5 per share. Few points:
1) Why do they issue dividends and raise money by issuing shares? Makes no sense. If you want to raise money the you should be preserving cash and not issuing dividends.
2) Underwriters charge hefty fees. The company only received $4.78 last December for every share it issued. It is encouraging that the lead underwriter purchased some shares, but he only paid $4.84 a share. Current price is substantially higher.
3) Insiders have been buying but at substantially lower prices.
4) Insiders also sold shares (300,000 shares), but you cannot see that in Yahoo. It was part of the issuance of new shares.
Overall, not great value at current price. -
Yes, very disappointing results. CCA could be a value trap. Biglari is a Buffett-wanna-be. Unlike Buffett he does not keep friendly relations with management.
-
You can argue for or against SVU's prospects, but the dumbest money was the people who tendered their shares. 11 million shares tendered. Those people could have sold in the open market easily for $4.20 to $4.40 instead of the tender price of $4. This means that they collectively left about 4 million bucks on the table. I'd like to know these folks so I can trade with them.
-
Peak, you sound like a desperate short.
Cerebrus = Symphony for all practical purposes
If the price was below $4, they would have had 30% stake. That is a fact. Now that it is above $4, they have closer to 20%.
You need to read the SEC reports and should have exited your short position when the writing was on the wall. From here, I would not be surprised if the price declined though.