skinny on buyers?

Just looked at pre open and only 6 buyers?

PIH trading around $4.52 yet at .24 BIP for each PIH values PIH at ~ $5.02 ($20.52 BIP x 0.24 / 0.98 exch rate)....correct?

So roughly would provide 11% ($5.02 / $4.52 ) less cost return on the deal.

So not sure why there aren't buyers?

Is there something going on that I've missed.