RE:Finally an updateIMO, this is fairly bad news. PTG has alot of financial and operating leverage and a change like this is scary. It makes it hard to value this business.
I find it interesting that they commented on Adjusted EBITDA but not on cash flows...the interest expense is material.
it's about US$4M less in net revenue they will be reporting, that on it's own is in excess of the dividend payment this quarter.
All that being said, this stock is down 50% since Q2...very well could be all this bad news is now backed in but again just hard to value this business now so we might see some selling today.