Added at this price to my lira accountUnder 38 is too good.
I heard call. read Raymond James analysis. reviewed government regs. Funny how those who say govt shut down the payday loan stores and you walk around the city and there are everywhere. They did not shut down anything. Govt concern is transparency and that people do not get fooled. They are fine with this type of business. For higher risk you need to charge higher rates. Better to get it from goeasy than the mafia I say.
My theory is trading today was triggered forced selling by those who were at maximum margin on goeasy. this looks like largest volume day for year. When that happens those who dont follow news usually say something is not right and they go ahead and sell and ask questions later. Sometimes that works but in this case there is really nothing negative at all on the call, the press release the results. We are just now trading at a multiple of 6 using 2 years out projected eps of $6 a share. Multiple of 6 is a buying multiple.
Last time I checked the insiders are still holding Johnson has 3 million, ceo has 500,000 and when you add up other managers and directors they are close to 4 million total of the 15 million shares outstanding. Other major shareholder Fiera did sell down a little this year. AT start of year they were 1.5 million and now at 1.150. They have been long term holders and if you look at history of goeasy various funds have come and gone over the years. there was one that cashed out at 16 long time ago.