Free shares goes on at many or most companies. And shares are better than cash in that it gives directors an ownership stake.
Its not worth focusing on. You miss the big picture when you pay too much attention to minutia.
The Company showed improved results in the following areas:
Stock Price—appreciated 71.8% growing from $10.62 to $17.82 in fiscal 2014, and up from $4.61 at the beginning of fiscal 2013.
Sales—increased by 5.2%.
Comparable Store Sales—increased by 6.1%.
Inventory—a decrease in inventory on a unit basis of 9%.
Cash Position—considerable improvement including a cash and cash equivalent position of $49.7 million at the end of fiscal 2014 compared to a cash and cash equivalent position of $28.9 million at the end of fiscal 2013.
In fiscal 2014, the executive team successfully completed the initial phases of the Company's business turnaround strategy and began the final stages, including improving store layout and presentation, preparing for the 2013 holiday shopping season, and positioning the Company to start producing consistent sales and profit increases. Some of the initiatives and results that are contributing to the successful turnaround include the following:
updating the merchandise strategy;
transitioning stores to new merchandise categories;
reducing clearance merchandise;
implementing a disciplined, seasonal buying process;
refining our real estate strategy;
continuing to improve efficiency and effectiveness of the Company's supply chain; and
moving from multi-page circulars to smaller, more impactful circulars.
Another interesting note....Since Becker got on the board ,there has been a CLEAN SWEEP.
Not a single legacy director or executive remains.
It wont lead to revenues, they never do.
The employment of Mark J. Morrison as Senior Executive Vice President of Hallmark Financial Services, Inc. (the “Company”) was terminated on September 25, 2014. The Company has offered Mr. Morrison a severance package. In the event the severance package is accepted and becomes effective, this Form 8-K will be amended to describe the terms thereof and include the agreement as an exhibit.
Also bought more SFY today at $9.56.
Good insider buying in both suggests that time will heal the current wounds.
That said, I wouldn't be surprised to see this sucker go lower.
I was wrong.
But I still think the odds favor buying versus selling at current levels.
I know there is going to be a lot of tax loss selling in this stock but Im surprised nobody is stepping up with any large bids.
Has Gabelli stopped buying ? If so, why ?
My dates were & are correct except for the the typos saying 04 instead of 14.
I think even a 5th grader could figure that out.
it was $2.69 on 1/20/09 because I bought shares then.
But Dan thinks I am making up my buys & sells. He is senile or something.
I like the risk/reward here but I sure as heck didn't think it would go to $2.69 back in 09 either.
A $1 a share charge or write off isn't going to make this company valueless. And a new CEO could help.
But, eventually, PBY will be sold. And I have a hard time seeing how it would bring less than $12 at the very least.
All that said, the lack of insider buying here is bothersome.