|Day Low/High||12.74 / 13.33|
|52 Wk Low/High||5.75 / 15.76|
It has been portfolio cleanup time, which means saying goodbye to some stocks and hello to others.
The classic net/net situation: losing money, business in decline, and priced as though it will not recover.
Deep value investors are finding the pickings slim among net/nets.
The pool of qualifying net/net companies has continued to shrink.
There are now just nine net/nets with market caps in excess of $50 million.
Shares of two deep-value plays head in different directions following their earnings announcements.
Those names in the green are not what one might expect, including some specialty retailers from my double-net value portfolio.
The net/net cupboards remain as bare as I've seen them in many years.
Facebook's report draws the most attention, but there are other interesting reports out there.
The distributor of automotive and audio accessories takes a hit after posting first-quarter results.
At this writing, there are just three of them with market caps in excess of $100 million.
As usual, it's been a mixed bag in the convoluted world of value.
I lament the fact that one of my favorite deep value hunting grounds is nearly devoid of possibilities.
Don't believe the rhetoric that the investment landscape has changed and old fundamentals no longer matter.
Two deep-value stocks head in opposite directions on results.
The five companies all appeared to be cheap a year ago, but only two have risen in value since then.
Farmland Partners beats expectations, such as they were, but Richardson Electronics did not.
Bob Evans, Biglari Holdings, Rell Electronics and Zoe's Kitchen all had news of interest to this value seeker.
There are only a handful of names in my net/net cupboard, and one I wouldn't touch with a 10-foot pole.
Experience has shown me that there's too much risk in SHOS.
These names frequently trade at low multiples to current assets and may (but may not) be worthy of purchase.
Richardson Electronics and West Marine both trade below tangible book value and have solid cash positions.
Just five non-biotech names trade below net current asset value.
This small-cap is trading below net cash and is rapidly improving its fundamentals.