They have increased to 50k shares in the most recent one (from 30k which was normal). They can only buy back a limited number of shares. I agree they should buy more and I think they are aware of this and have upped their buyback. I expect today's buyback would be around 60 or 70k shares. We'll find out in 2 days. I think it's likely all of this SP decline is over nothing extra ordinary. Most investors know Jamie's over exuberance and expect CTD to fall short of the EBITDA guidance. The SP now implies a signficant downgrade to earnings on an already downgraded earnings. I think as long as the company remains reasonably profitable, the lower SP is good for shareholders as the buyback alone can increase EPS by around 5% per year.
CTD Price at posting:
$13.00 Sentiment: Buy Disclosure: Held
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