Oct. 1 at 6:57 PM
$PSEC why did I buy in. 1) Stock price is below book value. Simple calculation Total Equity line in balance sheet divided by share count. I came up with value of
$9.90 ish a share. 2) Low number of analysts covering stock. Low number of analysts equals potential opportunity...basically the stock has been given up on by analysts. Them not covering the stock means it has a chance to recover. No one downgrading. No over analysis. 3) The CEO buying got me curious enough to look at the books...the CFO buying although no where near as large got me looking as well. With a book value of
$9.90 a share and share price well below that number makes this a target for a takeover offer...probably not happening but with a CEO that is 72 you cant take that off the table. I would rather see it play out as a recovery story but I wont cry if they get bought or merge with someone else.