CRH comments on BNNFor those that missed it Benj Gallander was on BNN yesterday and was asked about CRH. Benj is a pretty respectable analyst and his investment letter has performed very well for a long time. I was hoping he would have some good things to say since CRH may be on his radar with how cheap it is (He is a contrarian investor). Unfortunately he was not a fan of the company and has avoided it, his comments are below. A common negative comment for analysts regarding CRH has been the insider selling from earlier this year, in Benj's case he says "insiders have been selling like crazy". The point is valid, we were all angered by Wright and other members of mgmt selling, Johnson, Webb, and Holler to name a few. Patrick has really been the only net buyer of common shares in the last 6 months and that was August. Its unfortunate that Wright and others made these bad moves and that these decisions are still haunting us and impacting peoples view of the company. This positive momemtum lately has been a nice change, and I hope we continue in this direction. There was insider buying every day last week, but we can safely assume this is the beginning of the buybacks. This is good news. But its still concerning that mgmt have not been buying common shares, especially Wright and Bear. If they are confident in the success of CRH there is no reason they wouldn't be buying at these low prices. Wright makes over $4M for gods sake, which is way more than a ceo of a company this size should be making especially after the share price beating its taken. I can name a ton of way better run companies with market caps 5 to 10x's bigger that make a quarter of that salary.
Anyway CRH is improving on some of its underlying issues lately. But these are the one's that I feel still need to be addressed. GLTA
Has been badly beaten up. In 2014, revenues were about $11 million, and are now looking at about $100 million. BV is around $.85, so it is still trading at around 3X BV. The important thing is that insiders have been selling like crazy. When this happens, that is not a good sign. Not a contrarian stock to his way of thinking.