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StoneMor Inc. (STON)
NYSE - NYSE Delayed Price. Currency in USD
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At close: 04:00PM EDT
1,022 reactions on $STON conversation
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Full year net loss from continuing operations is at $57 million compared to $37 million year prior.
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StoneMor reached a 52 Week high at 3.07
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StoneMor is down 5.86% to 2.41
So you all understand, the cremation rate in the US has continuously increased year over year. Fewer and fewer families are having loved ones buried. This company, since it's inception, has made poor business choices (i.e. purchasing more cemeteries than funeral homes, and purchasing and installing vaults in plots ahead of time to prevent competitors from getting sales). That is the equivalent of a restaurant opening up with more kitchens than dining tables. Further clues are the bigger corporations funeral home to cemeteries ratio, STON is backwards to bigger players. Also, any investor or trader, should always do some research into the Board of Directors prior to purchasing stock if they have hopes the price will increase. There is not one person on the Board who has any history or knowledge of the funeral industry. Like many other business, the funeral industry is not just something anyone can manage successfully. As a professional in the industry myself, I can tell you this company is poorly ran. Good luck to all.
I’ve never met Andrew, but what interested me initially was.
I wondered why would he invest such a truckload of money purchasing STON stock with all the location challenges?
So, I researched and learned he was a bottom-up investor, watched his interview and read some of his profiles to learn some of his investment strategies. I didn’t know what bottom-up investing was so, I read about it and as I got dug into the numbers, I began to understand his wisdom.
In simple terms, top-down investing start with the entire market and work down, while bottom-up investing begins with the individual business. So, what is the potential for individual cemetery locations increasing 1, 2 or 3 additional sales each week. 301 multiplied by any number weekly is a big number.
And reading your posts you’ve trained and managed teams which have produced those type results and better. So, you know it can be done because you’ve done it.
STON services over 52k families annually with Interments.
The LTV (lifetime value) of an Interment has increased rather than decreased with all the online plain vanilla website competition.
A very popular and true Internet marketing term is “THE MONEY IS IN THE LIST” when referring to Affiliate Marketing on the Internet.
And STON, SCI and all the others has one heck of a list to market to for almost free using affiliate products increasing customer LTV. Best Buy, Walmart, Target and many others have affiliate programs, and families on their list is buying products from these retailers daily.
What marketing channel can a cemetery use for a program like this while simultaneously obtaining cemetery property referrals generated from your contact list of families each month?
That’s the power of Internet Marketing using email with a monthly newsletter. Not the typical newsletter sent like Dignity Magazine which only talks about funeral planning.
A newsletter should contain interesting helpful information your families would enjoy reading about instead of the happenings in your cemetery. And not all about grief stuff.
Affiliate marketing is not the future…It’s now.
My wife ordered a TV on Amazon the other day and we were offered same day PU at Best Buy.
Yep, Best Buy is on the Amazon bandwagon. If you can’t beat them, join them….
To Greater Success!!
Let’s get real for a second. This company formerly played fast and loose with accounting and dividend schemes (under previous management as a partnership). They are now working into more stringent compliance as a proper corporation. Look at the top institutional holders, amongst them Morgan Stanley. Then consider this:
Insider Purchases Last 6 Months
Shares Purchased: 63,301,679
Likely those on here are not responsible for those 14 transactions. Some of this can be attributed to insider awards, perhaps a couple million. So, who is buying up?
Are they going bankrupt? Not a chance.
Will there be more right-sizing of properties and Human Resources? Most certainly.
Are there going to be rough waters ahead with write downs and penalties on bills? Likely.
Can an investor today expect to see $5-8/sh over the next 2-3yrs? I think so, but let’s wait and see what management does.
Is it more likely that they will go bankrupt, well that is like saying Morgan Stanley and others are comfortable with a total write down, so why the acquisitions - or is it likely they are going to streamline and turn a corner over the next 2 quarters? It depends are you individually smarter than groups like Morgan Stanley?
Axar Capital Management L.P. reported to the SEC that on April 14, 2021 it acquired an additional 5,522,732 shares of StoneMor Inc. (STON) common stock. Prior to this acquisition, Axar Capital Management L.P. owned 70.51% of the outstanding shares of STON. GLTA Longs.
Sorry Michael can’t assist with an opinion for a time frame.
I only have access to information in the quarterly and annual reports. – a timeframe for a Ston business turnaround is not something I could confidently predict without course correction knowledge of Ston turnaround strategies.
Reloading the files to sell O/C isn’t a long-term fix without referral property sales.
Too many KPI’s I’m not privy to, same store year over year performance of locations, sales structure, marketing plans and lead programs etc.
But I can confidently say I truly know StoneMor with all its challenges can be turnaround with the right talent, structure, culture, sales and marketing strategies in place.
It took sci 20- years from its low of approx. $1.50 in Dec 2000 to $54 (current). After their challenges,
Others didn’t survive their challenges, Stewart, Lowen Group, Memorial Operations which StoneMor now owns most of their properties or some of them. Each had their own set of challenges to overcome.
I can say with absolute certainty Ston cemetery sales can be turned around relatively quickly but increasing sales isn’t the complete long-term solution. Property sales are part of the execution of growth strategies, no more.
Cemeteries grow market share because growth mindset starts at the top but must reach all the way to the bottom.
And KC Chief is correct on his post about having sales counselors sit of the phone and grind it out for hours doing reload or cold call programs. Having a counselor grind it out daily cold calling or reloads didn’t work in the 20th century and doesn’t work in the 21st century.
The reason I can say with complete certainty that StoneMor’s preneed and at need property sales can be turned around is..........
In 2017 Ston owned and operated 316 cemetery locations and sold 30,161 Interment spaces.
2017: 30161/316 = 95 Interment spaces sold per location average annually
In 2018: Annual report doesn’t show this information
In 2019 Ston owned and operated 321 cemetery locations and sold 24.382 Interment spaces.
2019: 24382/321 = 76 Interment spaces sold per location average annually
In 2020 Ston owned and operated 313 cemetery locations and sold 22,909 Interment spaces.
2020: 22909/313 = 73 Interment spaces sold per location average annually
2020: 73/52 weeks = 1.5 preneed and at need cemetery Interment spaces sold weekly.
I didn’t do the math on weekly Interment sales in 2017 or 2019. 1 to 2 preneed and at need contracts weekly isn’t hard to improve upon as my 1stv post shared opinion.
To Greater Success!!
Can't wait until 3rd Quarter earnings (LOSS) is out. Just to see how much they have improved on the $7 million/month losses.
The two main problem most cemetery locations face may be obvious to most. Even though there is a long list of micro and macro challenges, all these problems stem from two biggies.
1. Not enough new families served (an & pn)
2. Not enough revenues (excess profits monthly)
Seems obvious, doesn’t it? I’ll come back to this.
Grow or die – no pun intended! There is no such thing as a mature cemetery, every cemetery is a growth business.
We know what it takes to fail so, what does it take to grow? Thankfully, as my previous posts shared 3 simple things.
1. Get more families
2. Increase their average sale
3. Get them to buy more times
KC Chief, you didn’t disagree with my previous post outlining where just ONE additional pre-need sell a week as an average per location can potentially drive in excess of 100 million pn annually. And not some bs figure you posted about 25k crypts. Mausoleum crypts are a small percentage of all location sales volume.
Recap - one double depth pn lawn crypt for two people $5995 after pre-need discount, 5995 * 301 = 1.8 million x 52 weeks = 93.8 million pn sales and adds to the overall enterprise value of Ston.
Now, they have some additional problems that I’m sure they are addressing.
SCI and others have had their share of problems previously from stupid employee actions and decisions and they survived the bad press, and family’s grievance and made corrective changes each time.
I haven’t gambled in many years but if I was, I’d bet……
Somebody @STON is paying attention to our posts with the authority of the ear of someone who does to make changes to the 10Q report. Supplemental information was shared in every 10Q for as far back as I could find until the last 10Q report after my post referencing 1 & 2 above. Not a cool move!!
That’s a recap of 1&2, now #3 get families to buy more.
One trick pony was a term I used for cemeteries pre-internet meaning there was no recurring product sells except for flowers placements. Space, vault, marker and opening closing and done.
The second not so cool move.
Partnering with Empathy to expand family support dealing with a loss.
I mentioned previously in a post an Internet term the money is in the list. Internet brands spends millions to grow their contact list and now STON is going to share one of their most important assets with Empathy to expand support offered to families dealing with a loss.
Ston, I’m still rooting for you, if you can’t figure out the how, bump me and I’ll show you the how….
Manager (Former Employee) – West Palm Beach, FL – August 8, 2019
Company bought out my location and fired me when I broke a procedure I knew nothing about because they never told/trained me. Worked for them for years and never heard from people until something went wrong. Companies biggest focus is fighting off bankruptcy which is imminent, just look at their stock and filing games
Taking a deep dive into StoneMor was interesting and hopefully you found a couple of nuggets from my posts confirming your investment decision in STON is a wise investment.
The covid death related bump has helped many locations with increased at-need and preneed revenues. Hopefully not becoming too comfortable covid revenues being temporary.
Gives many death care companies breathing room to implement short and long-term growth strategies and techniques to increase annual revenues and grow market share.
And STON needs a little work as KC Chief pointed out.....
To Greater Success!!
Hopefully they have some good news. Not what else can make money in the pandemic. Will be interesting to see the future forecast.
Just heard from good sources that former Pres. Larry Miller and VP Ken Lee are attempting to put together financing to purchase SM's Florida holdings. Correct me if I'm wrong but aren't they the same two that got SM into this mess to start with? and Let's not forget that long ago defunct Lowen. Glad I don't work for them in Florida.
Leadership all the way down have zero experience in the funeral business and are low quality
Cheap hires. This company will never turn it around. Their quarterly earnings come from property sales.
Attn: Stonemore executives: I apologize for putting my savings in STON stock only to have the dividends stop and ths stock price to crash. Obviously my investment was the cause of the problem and i realize all the executives must have their multi million salaries and perks. i guess ever since I bought your stock people have stopped dieing.
Important development this AH regarding Axar can start purchasing STON shares.
"Under the DVA, and subject to certain conditions and exceptions, the Axar Entities and their affiliates are prohibited from acquiring additional shares of the Company’s Common Stock. On April 13, 2021, the Axar Entities, the ACII Entities and the Company entered into a letter agreement (the “Waiver”) pursuant to which the Axar Entities were permitted to acquire some or all of the shares of the Company’s Common Stock held by ACII and its affiliates in a single privately negotiated transaction and not in the open market."
Negative earnings growth for 4 consecutive years, negative ebitda for 4 years, negative Book value of a dollar fifteen, what could possibly go wrong?
Check out the call options on STON. The July 16 $2.5 calls traded 320 contracts and the bid is 40 cents.
The Oct. 15 $2.5 calls traded 227 contracts and the last trade was at 71 cents.
If call volumes increase tomorrow, it should be a very bullish sign.
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