looks like at the close on Friday judging by price and action that day.
since his fortunes went up 700% this year, selling 8% still leaves him in good shape and a few shares for the ride.
plus Gregg Engles had 1,000,000+ according to his sec filing.
and this was as of 45 days ago! 6/30 cutoff
Dean Foods Founder still owns the most at last check
The authors have 40, 000 followers.
time for them to man up. they have no class, morals, nor credibility.
and rarely even entertaining
if da bears had anything they could have kept in from making multi year highs in a nasty market, with volume
it was splendid and oh so nice.
lost production, much higher rail rstes charged by BNSF, etc, plus they don't get the west coast premium accentuated by the rail traffic issues.
peix has everything going for it. bears have no actual issues to discuss.
EPA decision looms....
the miss highlights their weak margins due to trading department. they certainly locked in corn before the crash and lost out. those contracts will run off and be priced at the market for Q3-4 and thus the earnings visibility. we know from the conf call that most of peix's ethanol is sold at the cali spot....and corn is purchased at time of milling from on site contractors.
cali spot was up 2 cents in a negative 6.5 cent corn market. more huge margin gains for management to highlite in the ER and the C/C.
cali premium now 16 cents and rising quickly, here's one big reason...
after the bell news-
'Ethanol futures didn't follow corn Tuesday as strong cash ethanol prices kept the market steady. As production increases, the rail problems could worsen, creating havoc for plants and end users. August closed fractionally lower at $2.185 per gallon, up 4.6 cents, and September was unchanged at $2.08 per gallon. '
Cali closed with a 2.34 ask.
Tomorrow the few dopes that don't realize that gpre's numbers don't translate to peix, just as rex's numbers did not translate to gpre's either. Gpre only got 95% production capacity utilization. The CEO will be asked again like last time where did the margins go?
He will defend the trading department. They do well when margins stink. When will that be?
maybe 2016 or 17 at the earliest.
Cheap corn=cheap ethanol=export demand will keep a floor on margins.
225mm g ==== 50mm in income b4 taxes, WEAK
peix on 40mm gallons had 30mm in income before tax allowances
this is why when peix earns .gpre 's 82 cents tomorrow there will be a huge revaluation, like this SA author seems to have picked up on.
Chicago Rule 11 Ethanol Prices Creep Up on Rail Woes
Chicago Rule 11 prompt values were talked 1.0cts higher in early trade Tuesday at the Argo hub near Chicago as congestion in Chicago and delays for shipments to the coasts continue to challenge the industry.
"Rail will likely be an issue for a while," asserted an ethanol broker this morning. "There's been some temporary relief here and there, but it's only going to get worse."
Rule 11 is a good barometer for rail issues, transportation sources said. Rule 11 for delivery to the east or west coasts was at a ...
that is where it ends.
if there were any quarter in the last 5 years to be long it would be this one. If they cant do it then you don't want to be in it anymore.
Ill follow the execs and hold for the time being.
i dunno but corn is down LOD -6.4
and ethanol has been up all morning, despite that ....
the market knows something.
incredible divergence in corn v ethanol for 6 weeks straight.
corn down 30%
ethanol up slightly
yes margins are up about 3 cents today with the strong move in ethanol, up nearly 5 cents currently.
at one of the recent investor conferences it was 5 or 5.5mm left per the CFO.
so maybe in the 4's at quarter end.
I think that is a fair guesstimate...
they have slowed the run down, simply delaying the inevitable.
We'll see Wednesday now wont we?
Enjoy carrying the bag.
You could not be more inaccurate.
The execs did not sell warrants, nor do they have any financial interest in them.
The warrants were sweeteners for previous equity financings.
You bears just can not grasp the truth that inside execs have not directed one share of their holdings to be sold.
I know you are not stupid, so you must be confused, delusional, or obfuscating or some combination thereof.
that is a misprint on the sheet. 2 days ago it was 2.43.
there is no way it dropped 18 cents while futures were rising last 2 days. If you have been watching it daily as I do, you know there has been some ridiculous fluctuations, probably caused by a rookie entering the data.
I bet you it magically pops back to the 2.40's this week.
You have no clue as to what peix's corn basis is. you are just talking out your #$%$ as you have been short since 14 and noticeably absent since you were playing these games then
it has no impact on the fundamentals.
you people need to focus.
no, better, for tax withholdings. they received no monies from the transaction.
And betting against management who are clearly holding for higher prices, is a fools game.
6 to 1 insider buys to sells and insiders holding.
You are underwater and things may get worse, should they post the numbers the street wants to see.
place your bets.
November was 8 months ago. that is when they bought.