This screen attempts to look at new highs and lows accompanied by significant volume increase, as it’s our belief that price and volume must work in concert to find the best buy and sell candidates.
We collect facts and news on new highs in the Russell 1000 Index where volume is more than 40% over the 30 day average volume, the stock price is over $10/share and the company has a market capitalization of over $250mm. We exclude ETF’s. For the sake of time, sanity and manageability, we reserve the right to limit the list to 10-15 names; therefore we could exclude the lower market capitalization companies.
This list is NOT a “buy” or “sell” recommendation.
We think it’s a good place to start doing some research and we often find our best longs and shorts from this screen.
Please feel free to contact me with any feedback.
David E. Beard, CFA
Founder and CIO
Winterport Capital, LP
Selected New Highs: (3 out of 72)
INAP – Internap - $6/share, $315mm market cap – This company seems to be transition its business from a declining IP services company to an data center service provider (think EQIX or a “telecom hotel”). INAP has $1/share in net cash on the balance sheet, generated 41c/share in free cash flow last year and is now expanding it San Jose and Houston data centers.
OEG – OGE Energy - $38/share, $3.7b cap – OGE operates over eight thousand miles of pipeline in the South Central USA, Oklahoma and western Arkansas. OGE sports a 4% yield and mid single digits growth rates. We’ve seen some insider buying and the company just reaffirmed current earnings guidance.
PETM – Petsmart Inc - $31/share, $3.8b cap – The company operates 1,100 pet supply stores, selling 10,000 products in the US and Canada. . Reported and raised guidance last week. Same Store Sales turned positive at +1.5% and expenses have been well managed. Cash flow looks strong enough to pay a dividend and buy back stock as the store base is not growing.
Selected New Lows: (0 out of 2)
Disclosure: no positions at the time of posting