Insperity (NSP) joins the ranks of the many companies participating in a tender offer. The company is offering to purchase up to $125 million of its stock, or between 10.3% and 11.8% of its outstanding shares, depending on the purchase price. It’s offering to buy at a price between $43.50 and $50 per share, a relatively wide bid range. With the stock now at $46.20 and bouncing on the news, there’s no chance of a risk-free profit here, however. So those investors looking for a quick buck and who didn’t already on the stock, there’s less chance of a risk-free profit here. But the tender offer does have my favorite provision for small shareholders, the odd lot provision. Continue reading Insperity Announces Tender Offer
For the next week only, you should be able to score really nicely on a Kansas City Life Insurance (KCLI) offer. How nicely? You should be able to earn 6.8% over the next 8 days, or a 305% annualized return. This is one of those special situations that’s fantastic for small shareholders to take advantage of. In fact, the very structure of this special situation keeps large shareholders from stealing the profit. In this situation, you should be able to earn $830 in a little over a week by just clicking your mouse a few times. The situation closes on December 16, 2015. Continue reading A 305% Annualized Return at Kansas City Life Insurance
Multichannel.com has a transcript of a recent interview with John Malone, chairman of the Liberty empire of companies. Malone always provides an insightful take on the industry, and of course, he’s a must-watch industry participant, even though he refers to himself merely as an investor nowadays. The interview covers not only cable companies such as Charter, but as well content creators like Lionsgate, and global platforms such as Facebook. Continue reading Inside the Curious Mind of John Malone
NorthStar Realty Finance (NRF) pays a whopping 18% dividend yield, but should the REIT cut it? I’ve argued in previous posts that the stock continues to trade at a ridiculously low valuation – now at about five times cash available for distribution – because investors are tremendously fearful that the company will cut its dividend. But have investors punished the stock so much that a dividend cut is more than priced in? It certainly looks like it, and I think it would be quite stupid for the company to cut its payout. But let’s play devil’s advocate for a moment. Continue reading Should NorthStar Realty Finance Cut Its Dividend?
Interested in low-risk money with a high annualized return? I have a “take private” situation that closes in just 12 days — December 16, 2015 — and offers a 175% annualized return. In other words, you can make 5.8% on your money in the next 12 days, if the deal closes. This is one of those special situations that’s fantastic for small shareholders to take advantage of. In fact, the very structure of this special situation keeps large shareholders from stealing the profit. In this situation, you should be able to earn $720 in less than two weeks by just clicking your mouse a few times. Continue reading Just 2 Weeks Left For This 175% Return
Fly Leasing (FLY) joined the friendly skies of companies making a tender offer. The aircraft leasing company has offered to purchase $75 million of its stock at a price between $12.70 and $14.25 per share. That’s good for around 13%-14% of the company’s common stock. With the stock now at $13.51, there’s no chance for a risk-free profit, however. But there does remain a little bit of head room on the top end of the offer. The stock jumped quickly on the day of the announcement, but the tender offer does have my favorite provision for small shareholders, the odd lot priority. Continue reading Fly Leasing Floats a Tender Offer
It’s one of the strangest buyback announcements I’ve ever seen. NorthStar Realty Europe (NRE) has authorized the repurchase of $100 million of its common stock. This is tremendously unusual, since companies typically let the market take care of the mispricing of their stock, especially right after a spinoff. Of course, it’s also highly unusual for a REIT to authorize a stock repurchase, but sister REIT NorthStar Realty Finance (NRF) also authorized a buyback, for $500 million. So why the strange step? Continue reading NorthStar Realty Europe’s Curious Buyback
It’s official – Copart (CPRT) has made a tender offer. The company is offering to purchase up to 8.1% of its stock at a price between $38 and $41 per share. With the stock now at $39.66, there’s no chance of a risk-free profit here, however, and the spread has quickly narrowed even at the top end. So those investors looking for a quick buck and who didn’t already on the stock, they’re probably out of luck. But the tender offer does have my favorite provision for small shareholders, the odd lot provision. Continue reading Copart Makes a Tender Offer
Head of the Liberty empire John Malone sat down with CNBC’s David Faber for a long interview on the state of the media industry and the various Liberty companies in particular. It’s always interesting to hear what one of the world’s most successful investors has to say, and this time was no different. You can check out the full video at CNBC’s site here. If you’re a John Malone junkie, you won’t be disappointed.
A couple days ago I lambasted KBW’s analyst for what seemed like a rather arbitrary discount applied to NorthStar Realty Finance (NRF). (You can see the original post here.) The analyst determined a figure of net asset value of $32.08 per share, whereas management reported in its filing last week that it estimated NAV at $29.07. So where’s the downgrade, bro? Continue reading NorthStar Realty Finance – Where’s the Downgrade, Bro?