Glentel Inc GLNIF

10.50 with 5% divvy he we come

[Smithwicks]

Just started to buy this stock as it's becoming a value play.  Tom Skidemore lost over 40 million of stock value last year so believe me he wants to see the bleeding stop.  Hopefully, they will stop trying to grow and actually get rid of Australia and start buying back some shares back.   Cant remember if it's 10 or 15 % required ownership of a publicly traded company to get no tax on your dividends but Allen Skidmore is right on the edge, so start buying...I think we will test that Aug. 2012 price of 10.50.  I hope for all our sakes we don't. Glta

[rusty777]

Smithwicks - It looks like it is indeed headed towards your target of 10.50.  I would not be surprised if we actually see it go even lower as it seems to be losing almost 2% per day over the last while with today being no exception.  To be honest, I don't really see why its falling, however, that being said, I also don't see a lot of potential strength in the near term either

[McRambus]

It would be a victory if this trash can stay above $10.50. Management completly blew it, now all their millions of dollar of stock sales last year are starting to make sense.

[rusty777]

McRambus I looked for insider trading on SEDAR  and didn't find any buys or sells - I may have missed it though - so if what you say is accurate - and we are still not seeing any insider buys at these levels - this does not bode well for the rest of us who were silly enough to pay attention to the analysts. I see we are down another 56 cents already today - anyone have their radar on

[Robert40]

Agree with you Rusty. PE ratio seems to be too high at 53.6 Normal PE support level for TSX is 16-17 . I am wondering if this company is that good than why Normal Course issuer bid or insiders not buying this stock. Somebody knows something so they are dumping these shares. Down 30% in couple of months?