ragnarisapirate Posted January 8, 2012 Share Posted January 8, 2012 Anybody interested in them? They were a crazy net-net a while back, had a huge buyback, and are now going activist against MLNK. Link to comment Share on other sites More sharing options...
stahleyp Posted January 9, 2012 Share Posted January 9, 2012 I've been reading a bit about the fight. Apparently, they are trying to get a couple board seats on MLNK. The guys running Peerless is a former money manager and MLNK says that he is running a hedge fund against SEC regulations. Pretty entertaining stuff. Link to comment Share on other sites More sharing options...
ValueSlant Posted January 12, 2012 Share Posted January 12, 2012 Pretty interesting situation, but looks kind of speculative at current price. At $3.75 PRLS is trading around book value as of 10/31 although MLNK is up about 35% since then so probably trading at about 10% discount to current BV. So seems like it is just a bet that Brog can find more activist targets as the IP licensing runs off. Also seems like he is trying to start an asset management business out of Peerless, so if that works out I guess they would have a revenue stream from the fees as well. Valueslant valueslant.com Link to comment Share on other sites More sharing options...
ragnarisapirate Posted January 12, 2012 Author Share Posted January 12, 2012 Pretty interesting situation, but looks kind of speculative at current price. At $3.75 PRLS is trading around book value as of 10/31 although MLNK is up about 35% since then so probably trading at about 10% discount to current BV. So seems like it is just a bet that Brog can find more activist targets as the IP licensing runs off. Also seems like he is trying to start an asset management business out of Peerless, so if that works out I guess they would have a revenue stream from the fees as well. Valueslant valueslant.com Yeah, it almost seems like a smaller version of BH, but without the restaurants and real estate... Yet, it trades at a discount like a closed end fund might. Link to comment Share on other sites More sharing options...
Ross812 Posted January 12, 2012 Share Posted January 12, 2012 I owned Neutral Tandem (TNDM) in 2010. If I remember correctly Peerless Systems had a patent lawsuit against them. I looked into Peerless while researching the suit. I agree that they are basically a holding company. My experience with these type of investments is it is hard to make a buck in their line of work. They collect some money from patents, but lawsuits are needed to bring in more money. There are better investments that don't rely on the law to generate profits. Link to comment Share on other sites More sharing options...
SpecOps Posted February 19, 2014 Share Posted February 19, 2014 Does anyone know anything about the large amount of transactions in the cash flow statement? http://investingsidekick.com/peerless-systems-nasdaqprls/ Link to comment Share on other sites More sharing options...
frugalchief Posted August 29, 2014 Share Posted August 29, 2014 Does anyone know anything about the large amount of transactions in the cash flow statement? http://investingsidekick.com/peerless-systems-nasdaqprls/ I remember seeing that...who knows. Was Brog day-trading? That's a ton of buying/selling based on cash. I know it's 2 months old, but they finally sold out of MDLS, business still isn't pretty...http://goo.gl/2lK9O4 Link to comment Share on other sites More sharing options...
Tim Eriksen Posted September 3, 2014 Share Posted September 3, 2014 Nice stock pop on acquisition news https://finance.yahoo.com/news/peerless-systems-agrees-acquire-80-162733029.html Link to comment Share on other sites More sharing options...
louisdog Posted September 5, 2014 Share Posted September 5, 2014 I knew that acquisition was going to happen since I finally sold my shares in late July after waiting for a couple of years for Borg to do one! I give up on him and presto he gets it done. Sellers remorse Link to comment Share on other sites More sharing options...
Tim Eriksen Posted December 23, 2014 Share Posted December 23, 2014 Nice Christmas present. Peerless to be acquired for $7 per share in cash. http://finance.yahoo.com/news/peerless-systems-corporation-acquired-7-210440584.html Link to comment Share on other sites More sharing options...
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