Talk:Advocat, Inc. (AVCA)
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Now that the stock is trading close to the valuation in the buyout offer from the two hedge funds, can anyone think of any driver that might provide some upside (or downside) to the stock? --Khartand 12:24, 22 November 2006 (PST)
Shareholder Revolution, Will it be Good or Bad?
About last week (March 12, 2007), Amit Chokshi of Kinnaras Capital Management, wrote a pretty thorough analysis about the compnay in SeekingAlpha. He also suggested that some shareholder activism might be good for the company. Well, he got what he wished for. On March 13, 2007, Bristol Capital management made public a letter to the CEO as part of its 13 D/A filing stating its unhappiness with AVCA's management, and demanding some action and board seats. Note Bristol owns roughly 4.5% of the company and as I mentioned in the main article, offered to buyout the company at $16 something last year. Apparently management has been resisting any idea of selling the company. I wonder if this can be an upside catalyst for the company. The stock bounced a bit over the last week, but still below the high prior to the earnings announcement early this month. Disclaimer: At the time of writing, I am long on AVCA. --khartand 12:49, 20 March 2007 (PDT)
Oh by the way why are the quotes not working here? :)
- Update: Zach fixed it! Thanks Khartand. Jonathan Stokes 22:29, 20 March 2007 (PDT)
