A cross trade just went through for 2.1M shares at 39 cents. I hope that was a buyback transaction at that price. Would mean some benefit to me at least.
I keep hanging on to UXC. Has been 2.5 years of promises and mea culpa's but I'm still holding.
I think they're on the right track with the new CEO. Closing down or selling poor divisions, buying back shares when they're cheap, focusing on improving margins.....these are all the right noises. But its time for delivery.
They've got 500M of revenue. That's a lot of money going in the till. If they could just stop blowing it and hit a profit margin that's even HALF of what some of their competitors achieve (10% for SMX) we'd be looking at EPS of 8 - 9 cents.
Would be interesting to know much Chris Nicolli is behind the change in direction, and how much the board had to be sold on it, or if they came up with it themselves.
Key lesson for me though is to be wary about any business dependent on Government programs. They can change on a whim.
UXC Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
