Appears Large Investors Are Weary of PHM......
If PHM is such a bargain, why aren't large institutional investors gobbling up shares at these prices....?......I suspect it's because they don't trust the company after the Dalsin episode last spring and are waiting to see if the new management can actually bring order to the many moving parts of this company after all the acquisitions, equity issues, new shares they were/are handing out to management / employees, etc......I think the new management is correct in stopping the acquisition frenzy and letters of intent nonsense of the previous management, but I suspect the street wants to see solid success in integrating these operations so the share price makes sense re. price-to-earnings, price-to-cash-flow, return on investment, etc.........