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Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of WEB.COM GROUP, INC. New York, August 16, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of WEB.COM GROUP, INC. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Moody's Investors Service ("Moody's") said WEB.COM GROUP, INC.'s ("Web.com", B3 stable) recently announced sale of its Lighthouse 360 dental practice management business to Henry Schein One has no immediate impact on the company's B3 Corporate Family Rating (CFR), its B2 first lien credit facility, Caa2 second lien credit facility, or its stable outlook. Headquartered in Jacksonville, FL, Web.com Group, Inc. provides internet domain name registration as well as value added internet services such as website building tools and online marketing tools for small businesses. Moody's projects revenues to fall towards the $600 million range by the end of 2019.
Hedge fund managers like David Einhorn, Dan Loeb, or Carl Icahn became billionaires through reaping large profits for their investors, which is why piggybacking their stock picks may provide us with significant returns as well. Many hedge funds, like Paul Singer’s Elliott Management, are pretty secretive, but we can still get some insights by analyzing […]
On the last day of September, WIX stock traded near $120, and had more than doubled in 2018. Rather, investors simply appear to be taking profits. WIX stock isn’t cheap, but relative to peers (including SQ and SHOP) it looks inexpensive.
Web.com Group Inc. (Nasdaq: WEB) shareholders agreed Wednesday to sell the Jacksonville-based web services and marketing company to an affiliate of Siris Capital Group LLC for $2.24 billion, or $28 per share. After being traded on the Nasdaq Capital Market since 2005, Web.com will now be a wholly owned subsidiary. Shareholders approved the sale by a vote of almost 40 million to about 10,000.
NEW YORK, NY / ACCESSWIRE / September 26, 2018 / Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in ...
NEW YORK , Sept. 5, 2018 /PRNewswire/ -- Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New York ...
Moody's Investors Service ("Moody's") assigned a B3 Corporate Family Rating (CFR) and B3-PD Probability of Default Rating (PDR) to Parker Private Merger Sub, Inc. (dba "Web.com") in connection with private equity firm Siris Capital's ("Siris") proposed acquisition of Web.com. Parker Private Merger Sub, Inc. is an acquisition vehicle that will be merged with and into the company, with Web.com Group, Inc. surviving the merger as a wholly owned subsidiary of Parker Private Holdings II, LLC. At the same time, Moody's assigned B2 ratings to the company's proposed $1.18 billion first lien senior secured credit facility, including $100 million revolving credit facility and $1.08 billion term loan, and a Caa2 rating to the proposed $420 million second lien senior secured term loan.
Activist hedge fund Starboard Value has launched a push to remake the board of Symantec (SYMC). This move comes after the fund recently bought a stake of 5.8% in Symantec, the maker of Norton AntiVirus software. As part of the push to shuffle Symantec’s board, Starboard Value has nominated five representatives for board seats at Symantec.
When Webcom Group Inc (NASDAQ:WEB) released its most recent earnings update (30 June 2018), I compared it against two factor: its historical earnings track record, and the performance of itsRead More...