Supremex Inc T.SXP

Good Q4 results and price drops 3%

[Grifter]

I was expecting a bounce after positive Q4 results but the stock is selling off significantly ‍

[Jambalaya54]

The major stockholders can take and hold the price where they like and if you are a trader you will most likely take a little profit. Until new money comes into SXP and that will eventually happen if they want the healthy dividend. Patience will pay off to the smaller shareholders because with this momentum somebody wants you shares.. 

[HermannHaller]

Just a bit of profit taking. Maybe some people were expecting a bigger dividend boost/share buyback. They said on the conference call that they are now at a revenue run-rate of $350 million (adj for acquisitions and packing shutdown in Q4). And they believe they can keep margins in the low 20% range. That means at least $70 million in EBITDA in 2023, over 20% growth, even without organic growth

[Barrhavenite]

Shares are likely range bound for a while but that is OK. I like the dividend increase so that is OK. Not much better company to hold than SXP in a shaky market so all is OK. OKay. lol 

[Undeniable]

Some profit taking originally and then a bit of manipulation. This stock is going up. Great time to buy in at these levels. 

[Undeniable]

I picked up some more at 6.85. Pretty happy with that. It will be up considerably from this by the end of the day. I will keep adding to my position.

[HermannHaller]

Whoever sold it at $6.85 doesn't think the company should trade at 6x earnings??? I don't really believe someone thinks that. Just people trying to be short term traders. 

[Undeniable]

Doesn't make sense. If they were profit taking why would Anyone sell at these prices? Very strange

[Jambalaya54]

I only saw one possibly ttwo Asks over 5k shares transacted today but lots of smaller lots were accepted at the Bid which I assume they sold for a profit not a loss? Looking at the big picture 148,000 shares is not a lot of profit taking, I prefer to look at it as new money purchased 148,000 shares for over today's low of $6.66 a share.

[Barrhavenite]

The forward looking market is a contrary son of a gun. The shares were already bid up before earnings and their was no surprise to the upside so the shares sell off. Simple as that. Take the dividend, hold and relish your investment in SXP.