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Andrew Shapiro

 
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  • Goodrich Petroleum Corporation declares $0.6719 dividend [View news story]
    SA editors - These are dividends on several classes of GDP preferred shares and NOT GDP common stock! There is no 17.58% yield. Bad reporting.
    Feb 20, 2014. 09:32 AM | 2 Likes Like |Link to Comment
  • Regal Cinemas: The Only Way To Invest In Movies [View article]
    there is a sizable demographic and population that prefers new release entertainment and out-of-home. When you and your fiancee have kids - 'date night' might become quite a bit different.
    Feb 18, 2014. 09:12 PM | 1 Like Like |Link to Comment
  • The Private Market Value Strategy: Part 1 - Discounted Assets [View article]
    Also - for a company like Reading International (RDI) combining your EV and asset value approach help confirm considering RDI and companies like it as very undervalued.

    Taking Reading's Enterprise value of $305MM (market cap of around $170 plus net debt of $135) and subtracting out reasonable conservative real estate value on Reading's developable real estate parcels that do not YET generate any meaningful cash flow (they are to be developed into cash flow or sold) provides an adjusted Enterprise value less than $100MM and perhaps even negative for Reading's substantial cinema exhibition business which is the #3 movie business in New Zealand, #4 in Australia and #12 in the US (with sizable market share in Hawaii, San Diego, and NY City) With $36MM in cinema cash flow we are talking about less than EV/EBITDA of less than 3x on this operating business.
    Feb 15, 2014. 06:47 PM | 2 Likes Like |Link to Comment
  • Latest Data Confirms That Pandora's Business Model Is Broken [View article]
    Be careful what you throw your conviction to. - Their soft guidance could also be under-promise and over-deliver. Apple became quite good at it.
    Feb 10, 2014. 09:05 AM | 2 Likes Like |Link to Comment
  • Latest Data Confirms That Pandora's Business Model Is Broken [View article]
    It will take many many years before P profits/cash flow MIGHT grow into present valuation. If author is correct, what do you think P stock price goes to. Bottom line - Is P the best risk/reward play you can find in this market?
    Feb 9, 2014. 07:10 PM | 1 Like Like |Link to Comment
  • Netflix Pushes Closer To The Edge [View article]
    Amazon's profits have not grown with surge in revenues. Substantial growth in costs below gross profit are not fixed either. Neither NFLX or AMZN can shut off essential s,g&a costs without torching their revenues.
    Feb 7, 2014. 09:38 AM | Likes Like |Link to Comment
  • Netflix Pushes Closer To The Edge [View article]
    Revenues does not equal cash flow or profits. Ask Amazon.
    Feb 6, 2014. 04:54 PM | 2 Likes Like |Link to Comment
  • Pandora: User Base Grows But No Profit In Sight [View article]
    @tenplustwo - >$6 BILLION worth of profits?
    Feb 6, 2014. 04:52 PM | Likes Like |Link to Comment
  • Fewer 3D movies a concern for movie industry [View news story]
    yet according to boxofficemojo, 'Lone Survivor' leads best January boxoffice in four years: http://ow.ly/thKwg $RDI $RGC $AMC $CNK $CKEC $MCS
    Feb 4, 2014. 07:27 PM | Likes Like |Link to Comment
  • Gulfport Energy pushes to day's highs after CEO departure [View news story]
    more reason why speculation of activist investor may be spin doctoring to avoid clear question - why?
    Feb 3, 2014. 09:14 AM | Likes Like |Link to Comment
  • United PanAm Financial: How MBO 'Take-Unders' Freeze Out Shareowners [View article]
    Well the chickens may come home to roost.

    The UPFC suit filed in early 2011 on behalf of all shareholders at the time of the merger in response to the minority squeeze-out takeover engineered by UPFC’s Chairman continues. A few weeks ago, the California Court of Appeal handed down a decision partially in favor of UPFC shareholders.

    The court wrote:
    “The minority shareholders did sufficiently allege common control of the corporation, and subdivision (b) does, plainly, allow for suits to set aside or rescind mergers in common control situations. Therefore, we must reverse and remand for resolution of that question.”

    Essentially, the court ruled that, while a remedy of specific monetary damages was not available, the remedy of rescinding the merger is. Here is a link to the Appeals Court’s full opinion http://bit.ly/1ftEMlA

    While getting the company back might be a bad thing, if the business hadn’t been bought at the bottom of the cycle at such a cheap price, in light of the tremendous rebound and success of UPFC’s industry since the takeover, rescinding the merger as if the deal never happened could be of enormous value. Certainly interferes with Mr. Bron’s desire to eventually take UPFC public again or sell to a larger player.
    Jan 31, 2014. 07:59 PM | Likes Like |Link to Comment
  • Maxxam: Unbelievable Value On A Hard To Buy Stock [View article]
    read the articles I have written on Reading International (RDI); Several of substantial detail and information.
    Jan 30, 2014. 09:18 PM | Likes Like |Link to Comment
  • Gulfport Energy pushes to day's highs after CEO departure [View news story]
    That the CEO 'was pushed out' does NOT mean an activist is involved. #activistinvestor are #valueinvestor. $GPOR is not priced at cheap value multiple
    Jan 30, 2014. 08:02 PM | Likes Like |Link to Comment
  • Is Netflix Already A Bubble? [View article]
    While household number is close to 120MM, Several federal broadband studies report that there are only about 70-80MM households with broadband connections approaching what is necessary for streaming. Yes there is more than one person in a household but due to multi streams allowed per monthly payment as well as disallowed password sharing that is prevalent, is it really conservative valuation analysis to imply total market really more than broadband number of 70-80MM. Seems hype job to me to promote higher domestic market size.
    Jan 30, 2014. 12:53 PM | Likes Like |Link to Comment
  • Maxxam: Unbelievable Value On A Hard To Buy Stock [View article]
    Amazing, I worked on the first PALCO LBO in late EIGHTIES; Hurwitz is a big issue though.
    Jan 30, 2014. 11:30 AM | 1 Like Like |Link to Comment
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