Bullboard - Stock Discussion Forum ECN Capital Corp T.ECN

Alternate Symbol(s): ECNCF | ECNNF | T.ECN.PR.C | T.ECN.DB | T.ECN.DB.A | T.ECN.DB.B

ECN Capital Corp. is a Canada-based company. The Company is a provider of business services to North American banks, credit unions, life insurance companies, pension funds and institutional investors (collectively, its Partners). It originates, manages and advises on credit assets on behalf of its Partners, specifically consumer (manufactured housing and recreational vehicle and marine) loans... see more

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ECN Capital Corp > Globe & Mail

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Post by retiredcf on Mar 16, 2023 10:36am

Globe & Mail

08:53 AM EDT, 03/16/2023 (MT Newswires) -- Silver Beech Capital Management LLC, a shareholder of ECN Capital Corp. (TSX: ECN), on Thursday made public its letter sent to ECN's Management and Board of Directors urging the company to "remain mindful of ECN's intrinsic value" while the company undertakes its "review of strategic alternatives to maximize shareholder value."

"ECN is a high-quality, asset-light, high-margin business with substantial long-term growth potential. ECN provides its funding partners with superior access to market-leading consumer credit products," said Silver Beech Partner James Kovacs. "The company is currently trading at a deep discount to its historical valuation following a downwards revision of earnings guidance for 2023 caused by softening demand for manufactured housing and recreational vehicles. However, we are optimistic that with the recently announced review of strategic alternatives and ECN's impressive track record of capital allocation, ECN will once again deliver for shareholders and unlock substantial value that is not currently appreciated by the public markets."

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