Toro Investment Partners
Long/short equity, value, special situations, contrarian

Share Repurchase And Atlantis Investment In NQ Mobile Signal A Turn

Yesterday, 7/2/2013, NQ Mobile (NYSE:NQ) (or "the Company") made two important announcements at once. First, the Company disclosed that Atlantis Investment Management Ltd ("Atlantis"), one of Hong Kong's largest asset management firms, with an industry-leading track record dating back to 1994, had purchased one million ADSs in the month of June in the open market and would purchase 1.5 million additional shares directly from the Company through a new issue. Second, NQ announced that the previously approved $20 million share repurchase plan had been extended to $35 million in total.

We consider these announcements significant not simply because they scream "Value!"

To us, they signal a turn.

Recently, we published an article that provided an investment thesis update...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details