RE:RE:RE:RE:RE:RE:End of Februaryseanbaker443 wrote: Last stock issuance was at $42.45. Even better deal for the company, but get your facts straight before posting random incorrect stuff. You look just as ignorant as the shorts.
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puma1 wrote:
on the negative side though, they have pissed away almost $30 million of cash on stock buy backs................... total and complete waste of money that has had zero impact on the enterprise value..................... any dividend payment savings are offset by lost revenue options of investing into the company and/or interest carrying costs on the related debt
I disagree. The buybacks are one of the best things the company can do. It guarantees that the cash they raised through the prior issue is free money. Remember, the last share issue was sold at $36. That means, any share they buyback is a guaranteed $4-6 in cash they do not have to worry about. They do have the ability to invest in more businesses. They have more than ample cash to pay for it. When the market is not reflecting the actual value of the business, buybacks are the best way to value longer term shareholders without commiting to dividends and add pressure to short sellers. Removing shares will make it harder for short sellers to buyback shares eventually.
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Whoops! Thanks for the correction, so even better, although some of the buyback did occur at +$34. Last Tuesday, they bought back 36,800 shares at $30.96 according to SEDI. That is pretty good deal!
As a long term holder, I am very happy.