LMCA got a nice price target boost by National Alliance Securities to $74.08
no link yet
Printable View
LMCA got a nice price target boost by National Alliance Securities to $74.08
no link yet
That is a pretty big boost, Wolf. Which is the ticker behind the SIRI position now, LMCA or LMCK....a bit confused on the split.
EDIT: Funny how none of these analysts have made any statements as of yet on SIRI....except wonderdick. They seem to be cautious/hesitant with Liberty pulling the strings...we could be stuck here for months or shoot up in no time with the Liberty annual meeting and CC just days away.
I believe SXM, Live nation etc is in the dividend LMCK class C shares while the cable assets stayed in LMCA..... because we are just Malone's step kids
Looks like $3.455 closes above my trend line. Maybe we go up tomorrow.......:peeping:....:popcorn:
EDIT: Actually a 3.46 close for the day:)
From the 10Q page 45
http://files.shareholder.com/downloa...937/filing.pdf
What is an ASR agreement? Looks like it is similar to what Liberty did when they were buying shares with the forward contract. They have received an initial amount of 112.5mn shares. They are to receive more in August. We don't know what the negotiated price was per share.....therefore no price per share on the 10Q.
These shares have been paid for with the 600 mn up front payment......tricky Fks.
Paid for in Q2 and delivered and off the books August 1st, Q3...tomorrow.Quote:
In May 2014, we paid $600 million under an ASR agreement and received an initial delivery of 112.5 million shares of our common stock. The
ASR agreement is expected to mature no later than August 1, 2014 and will settle following maturity. See Note 14 to the consolidated financial
statements included in this report. In addition, during May 2014 we purchased 68.2 million shares of our common stock on the open market at an
average price of $3.21 per share.
Just looked it up, here is a link....... http://www.investopedia.com/terms/a/...repurchase.asp
Thanks BD.....it is very similar to the tactic Liberty used. Tmbr/Flow/UBSS, one or all probably involved in some way or another in this share manipulation to get SIRI shares on the cheap overt the last 3 months. Certainly, they have been keeping it down to buy on the cheap for SIRI to get shares under or at $3.50ish and at the same time to make their spread/%. What does that mean/do to the SP.....now that it comes due tomorrow.Quote:
Originally Posted by Blue Doggy
Possible that they already completed the purchases to fulfill the agreement before tomorrow but nonetheless they still are not technically off the books until settlement which is no later than August 1st.
Quote:
Originally Posted by denco1
I was reading the 10Q today on my phone, Denco and that was exact react - tricky bastards. I guess we should be expecting this same type of contract for the next 2B. SXM is going to have a great deal LT, but the ST effects suck. The "3rd party" is probably shorting the stock to keep it in a particular range so it can profit off the buys.... can't wait til the shenanigans stop.
Per the 10q also....how could they have bought back
131,135,903 shares at an average price of 3.52 in april when the stock price never got above $3.40? I must be overthinking or missing something. Maybe its related to the asr agreement somehow...who knows.
Also i had a strong suspicion back in march when they took the price down from 3.60 to 3.20 they were snapping up shares...and according to the april 10k they bought a bunch in march average price at 3.26. And there are some who swear there is no manipulation with this stock lol.
Thanks for pointing this out denco. Wrote about it and credited you if SA publishes the article (I don't see why they wouldn't pub this one). Two things... assume this ASR is with the bond holders. The short put through in may related to the 112.5 mil has not yet been covered which suggests a hedge... and the bonds are the only option.
Also, the last time a forward was "completed" like this was in July 2012, Liberty's forward. Stock popped that day of final delivery on ABSOLUTELY NO NEWS from $2.XX and ran hard.
Not that the same will happen here... different scenario, but it is worth mentioning. August 1st? It's 50 days clear of the pop back on 5/22 and when the 50 MA requires a share price pop on or before to maintain trajectory. It's also 100 days clear of SIRI close below $3.50, at $3.47, and any close above that means the 100 turns up. Keep in mind that a break of $3.52 or so is not only a break of the 200 day MA, it is also a break of the 50 week MA and moves the stock over ALL moving averages, daily, weekly, monthly, for the first time since the drop last October.
Little storm brewing, or big storm depending on how one is positioned. I may be disappointed that the stock didn't run ON the call but I'm still holding those damn ~1500 options for $3.50 on the 16th... someone talk me out of doubling down at 4 cents... Even $3.65 will make me a very happy person, and I could see a pop / trajectory over the coming weeks, if one happens soon, to $3.85 on a break.
There's nothing bad here. I just see nothing bad, at all, except that 200 day MA has not been broken "yet"
Looking forward to the article, SF. Can't see why SA wouldn't let it publish either.
The converts didn't come to mind until I saw your post. It makes sense. Would be a great bonus to get those done now instead of waiting till December and dragging the uncertainty of the effects on a few more months. What ever the reason for the ASR it is still a way to get shares without stirring things up too much by buying in the market at those levels. Maybe we get a bit more on Monday or Tuesday when Liberty has their annual followed by earnings.
I agree Steiny, Lots of short term shenanigans that should be very positive long term. Frustrated with the short term BS though. It's time for some meaningful action that will move this SP.
They have been snapping up shares in big chunks DM...unfortunately at the expense of the retail investor. Retail now holds but 17% ish of outstanding shares.
I like that link, Wolf!
Evercore boosts price target today EDIT from 4.25 to 4.30...not much of a boost but it is up and way above current SP . Nice to know that an analyst in "the know" decided to up their target.
http://www.analystratings.net/stocks...lMedia-Unknown
A nickel! I think I'll buy a pickle with that shiny new nickel.Quote:
Originally Posted by denco1
Back in January they had a price target of 3.90 to 4.50 so i dunno. Market getting killed today. Tomorrow is another day I guess.Quote:
Originally Posted by switchflare
Good point above on the April average price of $3.52, DM. The average price for the month couldn't have been much more than $3.25, give or take a nickel. Either they like giving money away or those shares may also be related to the converts.
Looks like they paid about an 8% premium for those shares.
EDIT: That just so happened to be the month we touched the 52 week low of $2.98. They better have something to do with the converts......if not they Fkd shareholder again somehow or another.
What a takedown in the Macro. Siri touching my bottom trend line which is also the 50. Hope we can bounce from here today or tomorrow.
This is CRAAAAZZZZYYYYYY!!!!!! 58 trades so far today.... My friggin' head is spinning!!
Somebody should take away my license because I am a danger to myself and everyone around me. :policeman: :rain:
Thanks Denco....it just didnt make sense to me when i came across it. I came across it in part to seeing your post re: asr inquiry. In a insane market day like today...glad i at least have guys like you, wolf, SF, and everyone to keep me sane. Man we need a green day tomorrow!!Quote:
Originally Posted by denco1
Added 750 more Aug 16 3.50's at 4 cents today.... UBS was on that 50 HARD, same way they are at 3.50 right now. Running out of compression and if they are working the buyback (one would assume they are, as Liberty is likely to use the same relationship over and over again and they used them for accumulation before).
Tomorrow should be telling, or perhaps Monday next week. End of the month today ....
Anyways, article is up. Hope I got things correct... I have to make some assumptions because there are a lot of questions and few answers :P
I have no idea why it does, but Etrade Pro seems to use 51 days in a 50 SMA calculation, 21 days in a 20 SMA, 101 days in a 100 SMA... wtf? Pushes my estimate of big move out by 1 day.
If I had to go out on a limb I would say long green tomorrow right to the 200. Whatever made the market flip out / gap down is going to disappear tomorrow... jobs report or something? and market will be chased up.
We'll see if I'm right. I don't have any 1 day short term bets.