Humana Inc (NYSE:HUM) seeks a bid, and exits the screen; Up 20+ percent for the week

Tobias CarlisleStudy Comments

Humana Inc (NYSE:HUM), one of my very long-term portfolio holdings is seeking a sale. Humana, one of the country’s largest health insurers, is weighing a potential sale of itself after having been approached by several competitors, people briefed on the matter said on Friday. … Any deal for Humana would be expensive: The insurer had a market value of about … Read More

FutureFuel Corp. (NYSE:FF) has a liquid balance sheet, and it’s cheap

Tobias CarlisleStocks Comments

At $11.59 FutureFuel Corp. (NYSE:FF) has an acquirer’s multiple of 4.4 and is another cheap company in the All Investable Screener. It manufactures and sells diversified chemical products, bio-based products, and bio-based specialty chemical products in the United States and internationally. FF has a $511 million market cap, $164 million in cash and no debt, giving it an enterprise value of $268 … Read More

Discussing Deep Value and the Acquirer’s Multiple at Harvard

Tobias CarlisleStudy Comments

A little over a month ago I travelled to Harvard to speak to Michael Parzen’s business statistics class on Deep Value and the acquirer’s multiple. Here is the recording of that talk. Click here if you’d like to see a current list of stocks with the best rank using The Acquirer’s Multiple® (it’s free!), subscribe to The Acquirer’s Multiple® or connect with me on Twitter, LinkedIn or Facebook.

Global Sources Ltd. (NASDAQ:GSOL) has cash, an activist, and buys back stock

Tobias CarlisleStocks Comments

Global Sources Ltd. (NASDAQ:GSOL) at $5.64 trades on a extremely discounted acquirer’s multiple of 4.2, making it the third cheapest stock in the All Investable Screener. It’s a Hong-Kong based business-to-business media company that facilitates trade from Greater China to the world, which likely goes some way to explaining the discount. If the accounts can be believed, it holds around … Read More

Valero Energy Corporation (NYSE:VLO): Cheap, and buying back stock

Tobias CarlisleStocks Comments

Valero Energy Corporation (NYSE:VLO) is the cheapest stock in the Acquirer’s Multiple Large Cap 1000 screener. Like AGX, it’s another stock that I’ve been pitching for six months (here I am pitching it to Jeff Macke as a takeover target last year). While it’s up more than +22 percent since, it remains an incredibly cheap large cap stock, trading on an … Read More

Norsat International Inc (USA)(NYSEMKT:NSAT) catches an activist

Tobias CarlisleStocks Comments

Norsat International Inc (USA) (NYSEMKT:NSAT) is a Canada-based satellite communications company and, with an acquirer’s multiple of 7.36, a member of the Small and Micro Cap Screener. Norsat’s business units include microwave products; satellite terminals, including portable satellite systems; Sinclair Division, through which Norsat provides industry leading antenna and RF conditioning products, engineered systems and project specific design; Maritime Satellite Systems, and … Read More

Into INTT: inTEST Corporation (NYSEMKT:INTT)

Tobias CarlisleStocks Comments

One of my favorite stocks in the Small and Micro Cap Screener is InTEST Corporation (NYSEMKT:INTT). It’s a ~$50 million market cap with a $27 million enterprise value generating 19 percent yield in operating earnings and cash flow. Nick Bodnar, a new contributor to the site, likes the stock too. Here’s why: InTEST Corporation (INTT) is a designer, manufacturer and marketer of … Read More

Argan, Inc. (NYSE:AGX) can’t get no respect

Tobias CarlisleStocks Comments

I’ve been pitching Argan, Inc. (NYSE:AGX) every chance I’ve had over the last 6 months. I pitched it on Bloomberg radio in October last year, and then again in December when Carol Massar reminded me it was down 15 percent. It’s back to where it was in October. It’s one of those Rodney Dangerfield stocks that just can’t get no respect. … Read More

Nevsun Resources Ltd. (NYSEMKT:NSU) is a dirt-cheap dirt miner

Tobias CarlisleStocks Comments

Nevsun Resources Limited (NSU), an African gold, copper, zinc, and silver miner, trades on a sub-2 acquirer’s multiple and is the cheapest stock the All Investable Screen.  It’s got an $820 million market cap with a $530 million enterprise value and trailing twelve-month operating earnings of $269 million (AM = 1.98), which is cheap, cheap. There are a lot of … Read More

How To Maximize Shareholder Value In Natural Alternatives International, Inc. (NASDAQ:NAII)

Tobias CarlisleStocks Comments

Micro cap special situations investor John Leonard, CFA has an interesting take on Natural Alternatives International, Inc. (NASDAQ:NAII), #5 in the Small and Micro Cap Screener. It closed at $5.65 today, but it’s worth $10+. Highlights Financial strength ($17 million in cash or ~ 56% of market cap and no debt) Low valuation (P/TBV of 0.81x, EV $13.4 million, EV/EBITDA of 2.09x) … Read More

Emerson Radio A Good Buy – Emerson Radio Corp (NYSEMKT:MSN)

Tobias CarlisleStocks Comments

A nice note from contrarian investor Nicholas Bodnar on Emerson Radio (MSN), the cheapest stock in the Small and Micro Cap Screener. The stock’s at $1.35 with cash backing of $1.45. It’s a rare stock that trades at a discount to NCAV, and cash, which, even with a terrible business, makes it a free hit. Summary Zero debt company trading below NCAV.2014’s free cash … Read More

The Acquirer’s Multiple 2015 Q1 Performance and Portfolio Holdings

Tobias CarlisleStudy Comments

Chart 1. Large Cap Returns 2015 Q1 The Acquirer’s Multiple screeners had a mixed start to the first quarter of 2015. The Large Cap and All Investable screeners massively outperformed– the Large Cap screener was up 9.1 percent vs 1.6 percent for the Russell 1000 TR benchmark, and the All Investable up 6.9 percent vs 1.9 percent for the Russell … Read More