According to my broker, I will get the reinvestment shares this quarter because DRIP was on as of the ex dividend date which was 2/29. So they will buy shares on the 10th and that will be the price I get.
The way I feel about RCKY is, its a must buy at $10, while at $12.54, its not a must buy but its not like Im going to cry about buying at up to $13.50 either.
As mentioned before, my recent buys were at $10.08, $11.01 and $12.62 or $11.1677 avg.
Feel great about those prices.
Common Stock 02/19/2016 P 1,215 A $ 9.22 10,000 (1) D
Common Stock 02/19/2016 P 3,268 A $ 9.23 10,000 (1) D
Common Stock 02/19/2016 P 900 A $ 9.24 10,000 (1) D
Common Stock 02/19/2016 P 4,617 A $ 9.25 10,000 (1)
Now that its at $12.54, I turned it off again. However, I think I may still get the 2/25 dividend reinvested. But Im not sure on that.
What would make sense here is to buyback the entire $7.5 million over the next year and then increase the dividend to 15 cents or 60 cents a year. That would ensure we don't see the crazy $10 levels again.
This way, they get the gains on the bought back shares because this is a $15 stock easy with a 60 cent dividend.
That was a quick turnaround.
Don't say you weren't warned.
I made a huge amount on RT the first time. The 2nd time, I lost maybe 5%.
Meanwhile, you have been pumping RAVE since the teens.
On that day, BLGO was 44 cents, RCKY was $10.39.
Now, about 6 weeks later, BLGO is 34 cents down 22.7% and RCKY is $12.27 + an 11 cent dividend or $12.38.
So, in 6 weeks BLGO is down 23% and RCKY is up about 19%. A difference of nearly 42%.
Meanwhile, the BLGO touts are strutting around triumphantly.
You people simply don't know what you are doing and I am trying to help you.
I believe BLGO exists to provide a comfortable living for its executives who have profited massively over the last 14 years while shareholders have lost over 90% (ROUGHLY)
How many more decades of Losing Money before you braintrusts figure it out ?
I believe and the evidence suggests, the bullish posters here are disingenuous.
They are paying prime rate less .25% which equates to $3.25% net right now. The dividend on RCKY shares at current prices is 3.6% which makes the buyback kind of a no-brainer even if it wasn't accretive to earnings and book value.
The downside is, we are less likely to see lower prices and insider buying if the stock increases. And I was kind of chomping at the bit to buy more in the $8.50 range if it were to continue lower.
I posted this on 2/21 on SI.
Shareholder letter is out. Maxim continues to bleed big. He spends too much time saying how bad SNS was and taking credit for its turnaround. He deserves credit for the turnaround and nearly everyone has given it to him.
But he lacks modesty.
Didn't touch on the inexplicable proxy fight and his war against Swenson. Nor did he comment on future rights offers or even their recent share buyback.
I really think if he wasn't so greedy, he and everyone would make a lot more money here.
Proxy statement. aka DEFC14A New one not out yet.
Last time, it was just Sardar & Bruce Lewis listed.
SNS executives don't have to be listed because they are a subsidiary.
Last years was dated March 9th 2015.
Looks like they were just a placeholder or something.
They have disgorged $132k in short swing profits in connection with it.
The sale date was reported as 2/29 but the prior holder has been buying prior.
Standard General own 3.75 million at 2/19.
These shorts you seem to want to fight are very likely short mutual funds simply betting against the market. Its no big conspiracy, I promise you.
And they very likely know little to nothing about the company.
Although 4 times book value is a high valuation for a company that loses money with no end in sight.
any number of sites. edgar otcmarkets and others.
but the cfo sold 2000 shares on 2/16 at $5.
Dec 30, 2015 SCHWARZ MARK E
Officer direct Buy 5.8499 16,665
Dec 28, 2015 SCHWARZ MARK E
Officer direct Buy 5.75 3,335
You're right. 1.8 million shares at 8.40 gross and $7.896 net. (Excluding 270k for potential overallotments. May 8 2010.
But, since then, I guess they have earned another $4.50-5.50 per share.
Do you recall what they sold them for back then ? I forget.
I didn't expect this but its welcome. Should limit the downside and be accretive to book value.