fishwithwings Posted August 11, 2015 Share Posted August 11, 2015 Anyone familiar with this company? According to Morningstar, the company trades at 7.6x TTM earnings (http://www.morningstar.com/stocks/PINX/WCRS/quote.html). Link to comment Share on other sites More sharing options...
randomep Posted August 11, 2015 Share Posted August 11, 2015 never heard of it.... but I am looking at the financials..... very interesting Link to comment Share on other sites More sharing options...
Tim Eriksen Posted October 3, 2017 Share Posted October 3, 2017 Great way to start a quarter. https://finance.yahoo.com/news/western-capital-resources-inc-announces-162500743.html Link to comment Share on other sites More sharing options...
fishwithwings Posted October 3, 2017 Author Share Posted October 3, 2017 Well.... That only took two years. Link to comment Share on other sites More sharing options...
Tim Eriksen Posted October 3, 2017 Share Posted October 3, 2017 That is good return over two years, hopefully you added along the way. It had been selling for 4.5 times pre-tax earnings, when there were trades, for over a year. Plus as a full tax payer they stood to benefit from potential corporate tax reduction. The AlphaGraphics biz was about 40% of pre-tax earnings and they sold it for more than the entire market cap. More importantly it can change the perception of management from acquirers of so-so businesses to wise allocators. Assuming $15 million of taxes (?), book value jumps from $3.62 per share to $8.41. Nearly $5 per share in cash. Link to comment Share on other sites More sharing options...
jrallen81 Posted October 3, 2017 Share Posted October 3, 2017 Any concern that it's under the control of a private equity company? Link to comment Share on other sites More sharing options...
Tim Eriksen Posted October 4, 2017 Share Posted October 4, 2017 Any concern that it's under the control of a private equity company? I definitely was concerned about that. Concerns: 1) it was dumping ground for acquisitions that they could not sell out of the private equity fund. This deal shows that is far less likely. 2) it would be managed to extract fees and not for shareholders. Also shows it is less likely. 3) with a controlling owner there is no recourse to change anything. Still true, but less of a concern. Link to comment Share on other sites More sharing options...
Tim Eriksen Posted May 22, 2019 Share Posted May 22, 2019 After having a couple of tough quarters due to store closing costs at their Cricket Wireless stores, WCRS posted a strong quarter in March. EPS of $0.11 per share Stock price under $4. Net cash of $4.20 per share plus another $3.3 million ($0.35 per share) in escrow to be released in October. Book value is $6.75 per share. CFO purchased shares this week at $3.75 and last year at $4.27. Pays $0.05 quarterly dividend for a 5% yield. Link to comment Share on other sites More sharing options...
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