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PRO Top Ideas
Top Ideas are high-conviction long or short ideas focused on market mispricings with asymmetric risk/reward profiles.
HC2's Deal Making Offers Significant Upside
- Significant NOLs and shifting balance sheet obscure company's value.
- While controversial, management has a significant ownership stake and is highly incentivized to increase net asset value.
- Near-term catalysts include closing of Schuff deal and uplisting to major exchange.
Noble Roman's New Initiatives Could Be Baking Up Some Profits
- Noble Roman's recent stand-alone take-n-bake initiative could be worth more than 50% of the company's market cap by the end of next year.
- Even without the stand-alone initiative, the company trades at a discount to peers despite significant tax assets.
- Strong insider ownership aligns management with shareholders.
Despite Run, ALJ Regional Holding's Deal Making Offers Continued Upside
- Lack of annualized numbers obscures the value of ALJJ's key subsidiary.
- Shares trade at a material discount to comps.
- Investors offered upside from continued deal making and company NOLs for free.
IDT's Hidden Value Should Call To Value Investors
- With legacy businesses largely phased out, the rapid growth in IDT's core business should be unmasked.
- The market appears to be ignoring the significant potential upside in the smaller Zedge and Fabrix divisions.
- Investors also get a "grab-bag" of other goodies, including NOLs, significant excess cash, and some real estate.
Substantial Upside As USA Truck's Turnaround Trucks On
- Substantial upside as turnaround drives metrics towards peer averages.
- Potential hidden value from the rapidly growing SCS division.
- Two activist funds plus a competitor each holding 10%+ stakes present multiple near-term catalysts.
Birner Dental Management Services: Accounting Masks Substantial Value Opportunity
- Non-economic amortization expense causes net income to substantially understate owner earnings.
- Recent investment in new offices is holding back bottom line but should prove profitable long term.
- Earnings should increase dramatically in next year as margins normalize.
Tower's Merger Offers Opportunity For Double-Digit Annualized Returns
- Market underestimating odds of Tower's merger with ACP RE closing.
- Filing of 10-K by end of month should alleviate market's concerns.
- Opportunity for over 15% annualized returns with limited risks given nature of ACP's guarantees.
- SWS Group Buyout Offers A 'Hill-A-Cious' Return
- The LGL Group's Strategic Review Warrants A Second Look
- Gyrodyne Could Make For A Tasty Liquidation Play
- Hollywood Media's Quiet Settlement Could Lead To Big Gains
- ALJ Regional Holdings' New Acquisition Unlocks Value
- Follow The 'Pros' Into Pro-Dex?
- Ark Restaurants Could Be Cooking Up Some Profits
- Alco's 50% Off Book Sale Represents Opportunity For Investors
- All Systems Go For InfuSystem MBO
- Time For Asta Funding To Fund Its Own Buyback
- Failed Titanic Sale Won't Sink Premier Exhibitions
- It's Time For A Dip In Lakeland
- The Hard Money Has Been Made In Imperial Holdings
- American Greetings Waiting To Greet A Higher Bid
- Cache Offers Huge Value