Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
- AeroCentury (ACY) trades at a significant discount to book value due to its older fleet and temporarily low utilization.
- However the low valuation ignores its attractive position as a niche operator with superior fundamentals.
- Moreover, the low implied value of its aircraft and engine assets provides downside protection while continued asset disposals should narrow the gap between book and true market value.
ACY is an independent aircraft leasing company with a focus on foreign regional carriers. JetFleet Management (JMC), an integrated...
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