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Jonathan Verenger  

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  • Update On Virgin America [View article]
    Isn't 10 / 53 nearly 20% growth?
    Apr 24, 2015. 01:12 AM | 1 Like Like |Link to Comment
  • Alfa Romeo Is The Final Piece In The Jigsaw For Fiat Chrysler's Brand Strategy [View article]
    Marchionne made mention of Ferrari "slipping into 2016" FYI
    Apr 20, 2015. 01:32 PM | 1 Like Like |Link to Comment
  • A Recent IPO With A Medical Breakthrough For Blindness Worth Billions [View article]
    It seems only fair to mention a stock like MDVN which is up 2000% in the past 3 years when mentioning MDB.
    Apr 14, 2015. 02:01 PM | Likes Like |Link to Comment
  • A Recent IPO With A Medical Breakthrough For Blindness Worth Billions [View article]
    I've seen this mentioned several times but I haven't seen people bearish on MDB mention MDVN for whatever reason: http://onforb.es/1IIPHs9
    Apr 14, 2015. 01:59 PM | Likes Like |Link to Comment
  • Sell The PGA Digital Ally News Long-Term [View article]
    Can I get my 5 minutes back from reading this?
    Apr 12, 2015. 12:16 AM | 1 Like Like |Link to Comment
  • Levy Acquisition Corp.: A Hot Taco At A Not So Loco Valuation [View article]
    Very interesting company. I actually bought shares yesterday. Based on comps to the QSR space LEVY looks really attractive. At 46% ownership of a $620+ Million revenue business, a market cap of $250M means a p/s of about 0.87 on their share of the business. Obviously if they end up owning 100% of the business, their market cap will rise proportionally (through dilution I assume). So I'm assuming the p/s ratio would stay the same. Look across the QSR space (#'s using TTM sales):

    CMG - 4.96
    LOCO - 2.80
    HABT - 4.74
    ZOES - 3.73
    NDLS - 1.30

    I assume the risk is they don't go through with the deal but that doesn't look too likely. I would think it should rise to at least NDLS's price to sales valuation which is to around $20. I prefer to use this metric only because the balance sheet will be drastically different after this transaction and presumably cash flows / net income will be much higher thanks to reduced interest expense.
    Mar 31, 2015. 10:40 AM | 2 Likes Like |Link to Comment
  • The Future Of Seeking Alpha, From One Contributor's Perspective [View article]
    Add ability to post comments on the mobile app?
    Mar 28, 2015. 10:29 PM | 2 Likes Like |Link to Comment
  • Virgin America: Dissecting The Credit Suisse Downgrade [View article]
    Technically speaking, a test of $30.4 or so would be a great spot to double down if you already have a position.
    Mar 24, 2015. 05:22 PM | Likes Like |Link to Comment
  • Virgin America: Dissecting The Credit Suisse Downgrade [View article]
    I wouldn't call it BS, just that it really doesn't make any sense. She points out that they have:
    "a less attractive growth profile than other discounters"
    "and has a narrowing cost advantage"

    However, that doesn't jive at all with actual #'s. As I showed above VA is expected to generate significantly higher top line growth vs its peer group with their new planes coming on board and new slots at DCA, LGA, and DAL, and they still have significant room to lower costs as they scale up to a larger company. So I'm frankly unsure where she is coming from with these statements. Just seems like misguided commentary.

    The comment about concentration risk is legit, but I know from personal experience how much better the flying experience is with VA than others. I think they have a much more loyal customer base than Julie is giving them credit for. And that shows in the customer service rankings they're getting year after year. I didn't see any mention of this in her note which seems odd to me as this is a huge factor in the success of an airline.
    Mar 20, 2015. 12:55 PM | Likes Like |Link to Comment
  • Virgin America: Time To Load Up [View article]
    Interesting comment on SFM. Thanks for sharing that. I get why you bring it up but the main knock against the parallel is SFM trading at an egregious valuation (and in my opinion, still does).
    Mar 20, 2015. 12:50 PM | Likes Like |Link to Comment
  • TravelCenters Of America: Undervalued Play On Stronger U.S. Economy [View article]
    VB - That would be nice. I'd take $23.
    Mar 18, 2015. 12:57 AM | Likes Like |Link to Comment
  • TravelCenters Of America: Undervalued Play On Stronger U.S. Economy [View article]
    The sentiment indicator worked again. I received a good deal of negative feedback on my article on TA and naturally, the stock is now at new 52 week highs around $16. I still think this has room to $21 or so.
    Mar 17, 2015. 01:26 PM | Likes Like |Link to Comment
  • Habit Restaurants: Keep It On The Menu [View article]
    Yeah that's a silly comment. I do expect them to gradually ramp up to 70 to 80 new units per year within 3-5 years, though.

    It's tough to compare all of these burger joints because they are all different. SHAK is a much higher price point, thus pricing out a regular visit from a family of four. It's more of a novelty, destination restaurant.

    HABT is more attainable because you can get a meal for $8 so for a family of four you're looking at $35 (vs $55 or so from SHAK). Plus, "Burgers accounted for approximately 61% of our entrée revenue for the fiscal year ended December 30, 2014" so there is a good deal of people ordering other items. I personally have gotten the chicken sandwiches there the last 3 times I've visited.

    Five Guys is expensive and only offers burgers and fries. Plus, the concept is a bit strange and quite frankly not all that inviting for females / families.

    After the selloff in HABT and assuming revenues come in around $220 Million for 2015, you're looking at a p/s of 3.66 (assumes 26 million shares x $31 / $220M). Not that bad, actually. I think I'll buy some tomorrow on a selloff, assuming people panic because of the S-1.

    If I look out 5 years and assume annualized revenue growth of 25% (not too outlandish at this size of a company), I get revenues of $533M and a market cap (assuming 4x p/s) of $2.1Billion. That equates to 21% annualized returns.
    Mar 13, 2015. 01:57 AM | 4 Likes Like |Link to Comment
  • Second Sight's Euro Momentum [View article]
    I think I addressed that. The total market is 375k just for RP. Right now its a subset of that but they will have several software upgrades that will improve eyesight (as I stated
    “Some of the research that we’ve been doing in Europe is we have a new imaging processing technique called, Acuboost, which has allowed us in a patient so far to produce enhanced acuity up to 2200. This has the potential to allow a 4X increase in the adjustable market with this device. We’ve also been able to produce color vision in a number of patients in Europe, and have been working on developing more advanced external hardware as well. So the patients can get both improved image processing and [even] factors. “ source: http://bit.ly/1MdFpgX

    as well as

    “We have an Argus 3 that’s under development. It’s been tested in animals so far. This has an increased number of electrodes, so again allowing for improved acuity down the road. We also have a design for an Argus 4 that would allow us to address the entire blind population. This is about 3 million patients world wide. We have a fair amount of IP on that as well.” source: http://bit.ly/1MdFpgX)

    and therefore make their addressable market much much larger. Right now as we stand in its current state their addressable market is about $5 Billion, however, they have the potential to significantly increase their addressable market with AMD being potentially 4x that and with software upgrades being an additional 4x that. These are massive numbers in light of:

    (1) FDA approval exclusivity for at least 7 years (no one has even applied for clinical trials, let alone gotten the go ahead for them or gotten FDA clearance...and the Retina Implant device with a CE mark has had numerous issues that have caused them to pull the product off the market)

    (2) An ASP of $100k+ per unit with 70%+ margins depending on volume

    (3) A breakeven sales figure of ~350 units per year which breaks down to about 7 implants per center per year (they are targeting 50 centers worldwide...about 25 to 30 now)

    (4) The potential for licensing partnerships in related fields (“We believe that technology developed for the Argus II System also represents a platform for stimulating the nervous system that we may be able to leverage for several other clinical applications outside of vision restoration. There are features of the Argus II System, such as compact size, high electrode count and MRI compatibility, that we believe make it a compelling option to improve existing neuro-stimulation therapies and develop new ones. These possible additional applications may provide further opportunity to increase our revenue in non-core markets through strategic partnerships and/or licensing. “ - source: S-1 http://1.usa.gov/1wNDuyb)

    Any way you slice it they have a monopoly on a very large market with the potential to grow that market exponentially for at least 7 years (assuming it takes 7 years for a competitor to complete FDA clinical trials like it took for EYES). And common sense suggests that any eligible blind patient would jump at the opportunity to see if given the chance, especially when their eyesight will only improve over time with software upgrades (Argus 2 is currently the 14th iteration)

    I believe you're not seeing the forest from the trees Chelsea. Although we do all appreciate being called pumpers and other nonsensical names and we have enjoyed your regurgitation of the "facts" from the "hard hitting" Street Sweeper article on a variety of other message boards like Stocktwits...all under different aliases.
    Mar 7, 2015. 12:56 AM | 1 Like Like |Link to Comment
  • Second Sight's Euro Momentum [View article]
    SerrCo (or ChelseaV on stocktwits as we have come to learn):
    You're greatly underestimating the population, ignoring the potential for upgrades to software (currently on 14th edition), ignoring potential for AMD population, ignoring patent protection, ignoring potential for licensing into other areas like Alzheimer's. Consider this:

    “We have an Argus 3 that’s under development. It’s been tested in animals so far. This has an increased number of electrodes, so again allowing for improved acuity down the road. We also have a design for an Argus 4 that would allow us to address the entire blind population. This is about 3 million patients world wide. We have a fair amount of IP on that as well.”

    “On the commercialization front, the product was approved in Europe in 2011, and we launched late in 2011. It’s currently fully reimbursed in Germany, and Italy, and we have reimbursement pending in the Netherlands, and in France. We’ll do just over $2 million in revenue in 2014 in Europe, and that’s only in four centers so far. “

    “Some of the research that we’ve been doing in Europe is we have a new imaging processing technique called, Acuboost, which has allowed us in a patient so far to produce enhanced acuity up to 2200. This has the potential to allow a 4X increase in the adjustable market with this device. We’ve also been able to produce color vision in a number of patients in Europe, and have been working on developing more advanced external hardware as well. So the patients can get both improved image processing and [even] factors. “
    Mar 6, 2015. 05:24 PM | 1 Like Like |Link to Comment
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