They missed, big. Will be dumped into the REIT wastebasket tomorrow.
Even their buyback, at the ludicrous price of $8.37/share, has lost over 10% of its value in AHs today. 12.3 million shares, now worth $1.23 million less....way to go management!
They defaulted on their LOC last quarter. What happens to Hirschmann and Klipsch if VOXX defaults on other loans?
How's that "big time bargain basement" purchase of yours doing? I hope you have a stop loss in place.
You can bet management is issuing $4 strike options right now. They'll never put VOXX up for sale, too much of a cash cow for them and Shalom
Well, I hope you don't lose big like 4WD who purchased "bargain" VOXX shares for $5.92 last year. That investment is down 30% which will be your loss when VOXX trades down to $3.
Ohio state only lists small caps on their June 30th 2015 statement. VOXX was not on the list, mercifully. Some time between then and EOY 2015, they acquired 482,900 shares. Let's say they bought all of those shares on December 31st, 2015 (they couldn't because the volume that day doesn't support it) at the closing price of $5.25. Ohio-State has lost 20% of their investment in that rosy scenario.....and they are one of the smaller institutional holders. Do you really think that Dimensional, Kahn, or BlackRock, institutions that hold millions of VOXX shares are buying during this plunge? Connect the dots . . . . . . = SELL
value doesn't matter to institutions since many of them are forbidden to hold equities trading below $5:
Top Institutional Holders
Holder Shares % Out Value* Reported
Dimensional Fund Advisors LP 1,748,381 7.98 12,972,987 Sep 30, 2015
Kahn Brothers & Company, Inc. 1,616,520 7.38 11,994,578 Sep 30, 2015
BlackRock Fund Advisors 1,221,284 5.58 9,061,927 Sep 30, 2015
Vanguard Group, Inc. (The) 989,449 4.52 7,341,711 Sep 30, 2015
Royce & Associates, LLC 984,691 4.50 7,306,407 Sep 30, 2015
Lsv Asset Management 934,100 4.27 6,931,022 Sep 30, 2015
Ameriprise Financial, Inc. 704,118 3.22 5,224,555 Sep 30, 2015
BlackRock Institutional Trust Company, N.A. 571,204 2.61 4,238,333 Sep 30, 2015
Snow Capital Management LP 566,927 2.59 4,206,598 Sep 30, 2015
Ohio-State Teachers Retirement System 482,900 2.21 2,540,054 Dec 31, 2015
Question Franky: Do you think the Ohio-State teachers retirement pension can afford to lose 50% of their investment in VOXX?
Though on very low volume. Could be a determined seller, liquidating at all costs. Could also be an institution, now that VOXX has sustained sub $5 SP.
Odds better than even that VOXX dips down into the $3s before it's all over.
Thanks for the 8K heads up. Do you know why they defaulted?
The amended facility is due on January 9, 2019 however it is subject to acceleration upon the occurrence of an Event of Default (as defined in the Credit Agreement).
Hope is not an investment strategy...just ask Vad from Jordan Capital. Here's a section from the last CC:
Thank you. [Operator Instructions] Our next question comes from the line of Vad Yazvinski of Jordan Capital. Your line is you now open.
Hi, I had, well, obviously, I had an earlier call with your Investor Relations, but I had -- as a shareholder, this is a repeat of a few previous calls, you guys have repeated the same story that things will get better next year for now going on year four. And then now with EyeLock acquisition adding a negative $16 million of negative financial performance for at least the time being, and, obviously, I hear you and I see the press releases that there's great future, but who knows how long it will take, and it's more of a venture capital investment rather than anything else really at this point. How much credibility can we put in the guidance and in the positive tone that you guys are trying to infer here, considering the performance of the stock, the financial performance of the Company?
Well, Vad, I truly understand your frustration. We're frustrated here as well as some of these programs take a little bit longer to materialize than we anticipate.
Alot of what VOXX sells is low margin, thus the reduction in sales volume. The only question is "What will replace this and will it also become 'low margin' once it hits the market."
VOXX has even a bigger problem now that earnings have been released and guidance provided, the stock trades below $5. It's going to get UGLY for VOXX as some institutions are forbidden to hold equities trading below $5.
I still think the $3s range is possible, given the market's reaction today.
4wd- Are you still in? Down over 20% on your initial investment....did you average down. Will you average down again after today's miss?