Looking at them now, I would probably give them 6 more months to figure out, how their newly launched products do. If they do well, chances are the company is still cheap regardless. But then it might be even more attractive to buy in.
I followed them for quite a whole but gave up. I even discussed the business with the management directly before investing in them, but my feeling is the current management is not particularly interested in shareholder value. The undervaluation may only be lifted, once am activist enters the scene. At least that is possible with the large float.
I think your assessment is likely correct. I believe an activist campaign is the most likely way to surface value here, and also think an activist campaign has a real possibility of being successful. Several directors already had 16% of their votes withheld, indicating there are lots of dissatisfied shareholders out there, as those directors had only had 8% of the vote withheld last year. 10% of the company can be purchased for a small sum. And there is a very clear pathway to shareholder value.
Thanks for adding your perspective on management. It jives with my own impression when I looked at it a few years ago.
Looking at them now, I would probably give them 6 more months to figure out, how their newly launched products do. If they do well, chances are the company is still cheap regardless. But then it might be even more attractive to buy in.
I followed them for quite a whole but gave up. I even discussed the business with the management directly before investing in them, but my feeling is the current management is not particularly interested in shareholder value. The undervaluation may only be lifted, once am activist enters the scene. At least that is possible with the large float.
I think your assessment is likely correct. I believe an activist campaign is the most likely way to surface value here, and also think an activist campaign has a real possibility of being successful. Several directors already had 16% of their votes withheld, indicating there are lots of dissatisfied shareholders out there, as those directors had only had 8% of the vote withheld last year. 10% of the company can be purchased for a small sum. And there is a very clear pathway to shareholder value.
Thanks for adding your perspective on management. It jives with my own impression when I looked at it a few years ago.