RE:Imbault Family back in IRG?I doubt its the Imbeaults but anything is possible.... My research shows that they sold because they were having financial difficulties -- margin loans, other commitments, etc....not because they were negative on the long term of IRG.
My research indicates that the Company is turning around despite the "soap opera" that the Canadian bucket shops are spinning to institutional investors. I expect Baton Rouge to be significant improved over the next 6-12 months under the leadership of the former owner.
The reason why people are hoovering up shares at 2.00 is because sometimes value in itself is its own catalyst. With the TSX/S&P trading at over 16.5x 2015 EPS, IRG is very cheap. I expect them to earn roughly .25 in EPS in 2015 and even more on a Cash Basis (.28). That puts todays valuation at less than 8x Earnings --> less than half of the earnings of the S&P with greater near term growth prospects...
This valuation also ascribes zero value to the platform synergies that would exist in a deal with a strategic or financial buyer. And/or the idea that the Company can re-install a restaurant CEO/re-instate a dividend.Stock is too cheap....Thats why people are buying.