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Howie Man

 
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  • Hastings Entertainment: Obsolete Business In Secular Decline [View article]
    He may be older at 63, but whenever the CEO is selling that is not a positive signal. Since 2008, Mamaduke has reduced his ownership from 40.7% (4.2M shares) to 29.6% (2.5M shares).

    More broadly, all insiders have sold 307,062 shares YTD and only purchased 27,972 shares.
    Oct 6 10:12 AM | Likes Like |Link to Comment
  • Hastings Entertainment: Obsolete Business In Secular Decline [View article]
    226k shares sold YTD by the CEO seems pretty substantial to me
    Oct 5 03:46 PM | Likes Like |Link to Comment
  • Hastings Entertainment: Obsolete Business In Secular Decline [View article]
    Mamaduke % ownership of shares outstanding
    Aug-30-2011: 29.6
    Jun-30-2011: 30.3
    Mar-31-2011: 30.2
    Dec-31-2010: 31.5
    Oct 4 05:25 PM | Likes Like |Link to Comment
  • Hastings Entertainment: Obsolete Business In Secular Decline [View article]
    John H. Mamaduke (CEO and chairman) shares held:

    shares held % shares out
    Aug-30-2011 2,547,870 29.6
    Jun-30-2011 2,611,878 30.3
    Mar-31-2011 2,660,197 30.2
    Dec-31-2010 2,773,775 31.5

    Check the filings. All numbers that have been presented are directly from SEC documents.
    Oct 4 05:23 PM | Likes Like |Link to Comment
  • Hastings Entertainment: Obsolete Business In Secular Decline [View article]
    As I am sure you know, current liabilities are only one part of leverage. Not even that statement is accurate.

    Current liabilities:
    1/31/10 86.2
    1/31/11 86.7
    7/31/11 88.1
    Oct 4 05:18 PM | Likes Like |Link to Comment
  • Hastings Entertainment: Obsolete Business In Secular Decline [View article]
    Here are the net debt numbers. Please explain to us all how they are deleveraging.

    1/31/08 36.6
    1/31/09 37.1
    1/31/10 29.3
    1/31/11 25.6
    7/31/11 38.7
    Oct 4 04:48 PM | Likes Like |Link to Comment
  • Hastings Entertainment: Obsolete Business In Secular Decline [View article]
    FYE CFO-capex
    1/31/07 -7.1
    1/31/08 9.3
    1/31/09 1.6
    1/31/10 14.8
    1/31/11 11.6
    LTM 1.5
    Total 31.7
    Oct 4 04:45 PM | Likes Like |Link to Comment
  • Hastings Entertainment: Obsolete Business In Secular Decline [View article]
    This is getting comical. How can someone be so passionately defending such an obiviously declining business? Do you work for the company and not get the memo that insiders are all selling?

    J. Manaduke shares owned 2,863,188 (5/10) - http://1.usa.gov/rcZr5y
    J. Manaduke shares owned 2,733,863 (5/11) - http://1.usa.gov/pxUj5h
    *review the Form 4s for more detail
    Here are the CF numbers directly from the filings.

    FYE CFO Capex CFO-capex
    1/31/07 11.5 -18.6 -7.1
    1/31/08 24.6 -15.3 9.3
    1/31/09 27.1 -25.5 1.6
    1/31/10 26.6 -11.8 14.8
    1/31/11 23.5 -11.9 11.6
    LTM 16.2 -14.7 1.5
    Total 31.7
    Oct 4 04:44 PM | Likes Like |Link to Comment
  • Hastings Entertainment: Obsolete Business In Secular Decline [View article]
    I am not sure what statements you are looking at, but HAST has generated a grand total of $34.9M in cash flow over the last 10 years and only $0.7M LTM (CFO-capex).

    Book value growth? TBV has declined 2% YTD and 1% since the same period last year.

    Good company? HAST has not recorded a Y/Y increase in sales or SSS since 2007. ROIC has been on a rapid decline and was negative LTM. EBITDA margins have consistently contracted and were 3.1% LTM. any metric you look at demonstrates that this is a declining business.

    Low cost leadership business model? Have you not heard of AMZN? How is HAST, a $500M in sales business, able to derive a cost advantage?

    I am sure management is glad you are 'adding' as they need someone to buy all the shares they are selling (+300k shares sold YTD).
    Oct 4 03:41 PM | Likes Like |Link to Comment
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