Not just Sterne Agee. Much of the street seems to think they are building this company for long term sales & profits and while 75 cents this year would be nice, its just a year off. And the cost of capital for many people like myself is very low.
I have cash sitting there earning 1%.
$10 would be a bargain. You act as if these guys are some fly by night hucksters rather than guys who made Michaels shareholders 10+ times their money.
Not with Lion funds 20% and the major proxy advisors not going for groveland.
Ideally, 2 of their guys would be elected, but I don't think that happens. Its a straight win, This year anyway.
Next year, a bigger firm will get together a better slate and take a meaningful position.
Someone, maybe gabelli, has been funding groveland.
And you will not that gabelli never said they would vote for groveland. So I expect they may only abstain.
I look forward to you reporting on the meeting. If I was closer, Id have to be physically removed. This entire board is negligent at best.
I think $1.75-2.00 in 3-5 years is possible.
A 12 multiple=$21-24
a 15 multiple=26.25-30.00
an 18 multiple=31.50-$36.00
The alternative of course, is the entire company is a fraud and senior mgmt will not stop until they are imprisoned. (I figure the odds of this Black Swan are less than 1 in 1000)
The 2 closest stores to me are STILL THERE if that's any consolation.
If you were faking stores, you'd think Central Alabama would be a good place for fake stores.
BH has ignored their requests. They intend to not support BHs slate unless they get written notice that BH is not voting the lion funds shares.
Also, Gabelli has continued to sell shares. A total of 1300 more from 3/23-4/2 at prices ranging from 414-428.
Egan Jones sided with biglari back in 2008 and now their opinion is worthless ?
Institutional Shareholder Services, Glass Lewis & Co., Proxy Governance, Inc., and Egan-Jones Proxy Services unanimously recommended to Steak n Shake shareholders to vote the GOLD proxy card.
May not be enough but it sends a message.
Also, biglari has continued buying BH shares despite the inability to vote them. That seems somewhat bullish unless he is looking toward next year already.
Estimates $1.56 for the year,$1.85 for next year.
"HERBALIFE - CHANGING OUR MEMBERS LIVES" one Federal subpoena at a time
I was half joking as I said. But really, if he was so inclined, he could have sold & not filed with the SEC.
Sellers sold out years ago and has been laughing at us ever since.
Half kidding, half serious.
So now might be a good time to break out to 7-8 year highs.
First quarter results should be out soon which could propel it even higher. Of course, you never know if they will beat or miss estimates.
No evidence of any pending deal.
Fundamental dumped their entire stake and nobody else apparently owns over 5%.
Looks like their burn rate is 1.25-1.5 cents per quarter.