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StoneMor Partners up 9% after filing shelf

Dec. 16, 2016 1:31 PM ETStoneMor Inc. (STON) StockSTONBy: Stephen Alpher, SA News Editor27 Comments
  • StoneMor (STON +9.1%) last night filed a $500M mixed securities shelf offering, and the hope for a capital raise has investors buying.
  • The company two days ago held an investor day, and here are the presentation slides.
  • "What Went Wrong," is the tile of one section. Listening to outside consultants, the company one year ago slashed its sales staff in an effort to boost productivity - it hasn't paid off. Added to that was a "lack of vigilance" on cash cycle management.
  • Action steps to correct include rebuilding the sales force while locking in some of those cost cuts.

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