Barington had very good timing on EBIX and they went public with their position just before a variety of overhanging issues cleared up.
From checking their website, they have two other activist shareholder positions. DRI which they stated in Dec '13 and OMN which they stated in Dec '14
What do you guys think of these?
Having read these hit pieces for years, you have to wonder just who keeps falling for these considering how horrible the logic used is.
This is an example of the customer stickyness / wide moat EBIX has. It took 2-3 years to roll out this platform, they will continue to use EBIX for some time...
It was a small pool of shorts that published those attack pieces. Now that the EBIX short case is falling apart I'm wondering what other stocks they went after to see if any others are good buys.
Anyone have any knowledge on this?
I wish I sold in the $20 range prior to the acquisition falling apart. Was planning to put the sell order in but got distracted with something else, then the price was $9. At least it was a good point to double down on the position. It's been a long 3 years with this one though.
Even if a short entered their position at the 2011 high of $30.35, if you factor in the cost to borrow share every short is now underwater even if they timed the last high perfectly.
At the end of Jan shorts had covered another 1M shares, but still had over 12M short.
I'm waiting for the forced liquidation of these positions.
The high for EBIX was $30.35 in early 2011.
The $36 number was from 15+ years ago when EBIX was a completely different company, that company practically went under, stock was under $2 for years. Then RR came in and completely changed focus.
Point is $30 is the relevant all time high for EBIX as it currently exists.
Wait a minute, with IB if they lend your shares you get a cut?
You mean that if I transferred my shares from Schwab to IB years ago I could have been making a percentage of that for free while sitting on the shares? Is this right?
Does anyone know Schwab's policy on this? I asked them this exact question last year and they told me that Schwab never lends shares out, I suspect that is BS and told them that but they stuck to the story....
Been following this stock for 5 years, never have seen a meeting go by without a press release or some news on the content. Seriously Barington was suppose to make IR better, not worse.
Where is a press release on what was announced at the share holder meeting. This silence is strange.
That's 5.7% from the same period one year ago, for 5.7% annualized. EPD is not increasing it's distribution by 22%/yr.