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ECN Capital Corp T.ECN

Alternate Symbol(s):  T.ECN.P.C | ECNCF | ECNNF | T.ECN.DB | T.ECN.DB.A | T.ECN.DB.B

ECN Capital Corp. is a Canada-based provider of business services to North American banks, credit unions, life insurance companies, pension funds and institutional investors (collectively, its Partners). The Company originates, manages and advises on credit assets on behalf of its Partners, specifically consumer (manufactured housing and recreational vehicle and marine) loans and commercial (inventory finance or floorplan) loans. The Company operates through two segments: Manufactured Housing Finance, and Recreational Vehicles and Marine Finance. It operates through three businesses: Triad Financial Services, which manufactures home loans; Source One Financial, which is engaged in nationwide marine and RV lending; and Intercoastal Finance Group, which is engaged in national marine and RV lending. It provides prime credit portfolio solutions: Secured consumer loan portfolios, which manufactures home loans, and Secured consumer loan portfolios, which provides marine and RV loans.


TSX:ECN - Post by User

Comment by snootchybootchyon Mar 25, 2024 1:14am
163 Views
Post# 35950054

RE:RE:ECN.T bought 20k at 1.68 sold at 1.82

RE:RE:ECN.T bought 20k at 1.68 sold at 1.82 The inability to spin out or to sell the RV/Marine business is really deflating. Is it possible that Hudson will retire at the end of the year and just hand over ECN as is to another CEO?  I personally don't think so. I think it's more likely that Hudson extends his contract for another year to the end of 2025. I think it's also equally likely Hudson is keeping all his options open by underpromising now and will look for opportunities to overdeliver by selling ECN at a good price. But that willl almost certainly depend on where interest rate goes and the performance of the Skyline/ECN partnership. Remember Hudson spent $3.3M buying ECN shares in the open market. The average price of his open market buys is around $2.25.  Skyline bought their shares at $3.04. One has to think Hudson is looking for an exit at much higher prices.
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