I don't know that I agree - I think its drifted down because of not enough activity or news. its the lack of acquisitions and then the transition statement that to my mind is the bulk of the weakness. That and PIE funds buying in what must have been just before the transition announcement and since November they seem to have been steady sellers its dropped off as a substantial holder and as their number 5 investment in their Emerging fund. So I presume they have been selling out...
I would really think that weakness hopefully will be a bit north of 76c.
I agree about Andrew Just - I think MS has had a rough ride his CFO had to leave for health reasons and each acquisition must have added another set of people reporting to him... However, I must admit that it took me around 2 months and a few phone calls to get my head around it. There has to be a separation of line management to manage the operational and management issues and then the acquisition and integration process. The real skill of PGC has been the acquisition integration process. By now I expected a few to fail and they have got things neatly together even with these large integrations.
PGC Price at posting:
76.0¢ Sentiment: None Disclosure: Held
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