RE:3Q21/22Hi Dempster: a bunch of us investors are in touch so I can tell u that I know the person who sold the bulk of those shares after the results.... didn't really want to but needed the powder for a faster return on another stock (at least the person believes it will happen). So not to worry. EPS would have been approx 7 cents/share without the restructuring costs. And the restructuring should increase the profit margin as well going forward especially assuming they get more work which seems to be the case as indicated in the results. Still think however Ms Reko should sell the company or buy out the minority at a much higher price than what it's trading at... After all the book value is about $8 now. There really is no point having it a public company. Imho
DempsterMill wrote: -18% (although very low volumes) seems like a bit of a harsh reaction on the report. It for sure wasn't strong, but there were some positives in regard to the future within it as well. The change in business strategy that is happening, perhaps on a smaller scale - a bit too far from the company to really know, seems interesting and might hopefully lead to some positive changes in the not too distant future.
Also, during the quarter 2.5% of the shares outstanding were bought back - that is quite of an aggressive buyback rate, especially considering the low volumes in the market. Considering the share is trading at around 0.5x tangible equity buybacks has a very positive impact on TB/sh. Hopefully we will continue to see further buybacks at these levels. But in a long-term perspective, we of course need to see some higher earning power than currently is.
Any other thoughts on the report?