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My Stock Value Strategy Starts Now (1 Viewer)

FavreCo said:
David Dodds said:
FavreCo said:
David Dodds said:
Mose said:
Any ideas when after hours we will see the numbers? An hour from now? midnight?
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Soon as they release their report, we will see after-market activity good or bad. Tomorrow will be the presentation and I plan on logging on to their website and watching it. Here is what I want the headline to be afterhours....DRYS has agreed in principal to buy PRGN for approximately $6.25/share
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If that were to happen, what happens to your shares of PRGN? I know they should go to $6.25 but if they only go to $6.15 and you don't sell, you have to sit on your shares until the transaction completes to get the full amount. How long would that take?
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yes you typically sell your shares for about 2-3% less and big hedge funds buy them up and wait it out and get paid.
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Always wondered who profitted over those few pennies per share. Thanks.
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Yep, they typically have the money to devote large sums to make such a strategy worthwhile. They also do merger arbitrage where you short the acquiring company and use the funds to buy the company being acquired. The idea is you are creating a riskless profit because the difference in the two prices will eventually converge when the merger goes thru.
 
Boring day today as I did no buying or selling....LOL

Year to Date Profit = $103,239

Today's Realized Gains/Losses = 0

Unrealized Gains/Losses:

10,000 PRGN @ 4.05

 
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David Dodds said:
Boring day today as I did no buying and selling....LOL

Year to Date Profit = $103,239

Today's Realized Gains/Losses = 0

Unrealized Gains/Losses:

10,000 PRGN @ 4.05
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Boring? Hell, this was my best day ever and I only own small shares of two companies! LOL
 
OCNF reporting 13 cents per share:

OceanFreight Inc. Reports Financial Results for the First Quarter 2009

Tuesday May 19, 2009, 4:05 pm EDT

ATHENS, GREECE--(MARKET WIRE)--May 19, 2009 -- OceanFreight Inc. (NasdaqGM:OCNF - News), a global provider of marine transportation services, today announced its financial results for the quarter ended March 31, 2009.

Related Quotes

Financial Highlights

-- For the three-month period ended March 31, 2009, the Company reported

Net Income of $2.6 million or $0.13 per common share.

Other Developments

-- In May 2009 the Company fully repaid the Sellers' Credit of $25

million in connection with the acquisition of the M/T Tamara and M/T Tigani

that was carrying an interest rate ranging from 9% to 9.5%.

-- As of May 19, 2009, the Company, under the Standby Equity Purchase

Agreement, or SEPA, entered into by and between the Company and YA Global

Master SPV Ltd., has raised approximately $111.6 million of gross proceeds.

Anthony Kandylidis, the Company's President and Chief Executive Officer, commented:

"We are pleased to report a profitable first quarter in 2009. During the last few months we have continued to execute on our business plan. We have secured our cash flow from a diversified client and sector base and we are in compliance with all our loan covenants. We have strengthened our balance sheet by infusing fresh equity of approximately $112 million while reducing the Company's debt obligations. OceanFreight is uniquely positioned to take advantage of the present challenging economic environment and go after opportunities as they arise."

...
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Paragon Shipping Inc. Reports First Quarter 2009 Results

Tuesday May 19, 2009, 4:15 pm EDT

ATHENS, May 19 /PRNewswire-FirstCall/ -- Paragon Shipping Inc. (Nasdaq: PRGN - News), a global shipping transportation company specializing in drybulk cargoes, announced today its results for the three months ended March 31, 2009.

Commenting on the results, Michael Bodouroglou, Chairman and Chief Executive Officer of Paragon Shipping, stated, "Paragon Shipping has produced its most profitable quarterly results since its establishment. Net Income adjusted for non-cash items, was $14.7 million. These results were delivered despite continued challenging conditions in the first quarter of 2009. Our performance was largely driven by the benefits of our balanced chartering strategy and strong cost management performance. The first quarter also saw Paragon continue to generate strong cash flow and strengthen its balance sheet and liquidity position."

Mr. Bodouroglou concluded, "Going forward, Paragon Shipping will continue to benefit from our established time chartering strategy that provides solid revenue visibility and stability in an uncertain economic environment. Consistent with the strategy, Paragon has 98% of its revenue days covered for 2009, 64% for 2010 and 39% for 2011 with some of the world's leading charterers. Overall, we believe we are well positioned, both operationally and financially, to operate in the current marketplace and create further shareholder value."

First Quarter 2009 Financial Results:

Time charter revenue for the first quarter of 2009 was $41.6 million, compared to $40.5 million for the first quarter of 2008. The Company reported net income of $19.2 million, or $0.71 per basic and diluted share for the first quarter of 2009, calculated on 27,077,348 weighted average number of basic and diluted shares outstanding for the period and reflecting the impact of the non-cash items discussed below. For the first quarter of 2008, the Company reported net income of $15.8 million, or $0.60 and $0.59 per basic and diluted share, respectively, calculated on 26,272,702 weighted average number of basic shares and on 26,735,470 weighted average number of diluted shares.

Excluding all non-cash items described below, adjusted net income for the first quarter of 2009 was $14.7 million, or $0.54 per basic and diluted share. This compares to adjusted net income of $14.2 million, or $0.54 and $0.53 per basic and diluted share, respectively, for the first quarter of 2008. Please refer to the table at the back of this press release for reconciliations of GAAP net income to non-GAAP adjusted net income and GAAP earnings per share to non-GAAP adjusted earnings per share.

EBITDA was $31.8 million for the first quarter of 2009, compared to $27.1 million for the first quarter of 2008. This was calculated by adding to net income of $19.2 million for the first quarter of 2009, net interest expense and depreciation that in the aggregate amounted to $12.6 million for the first quarter of 2009. Adjusted EBITDA, excluding all non-cash items described below, was $26.7 million for the first quarter of 2009, compared to $24.9 million for the first quarter of 2008. Please see the table at the back of this release for a reconciliation of EBITDA and Adjusted EBITDA to net income.

The Company operated 12 vessels during the first quarter of 2009, earning an average time charter equivalent rate or TCE rate, of $37,179 per day, compared to an average of 11 vessels during the first quarter of 2008, earning an average time charter equivalent rate of $39,098 per day. Please see the table at the back of this release for a reconciliation of TCE rates to time charter revenue.

Total adjusted operating expenses for the first quarter of 2009 were $7.1 million, or approximately $6,567 per day, including vessel operating expenses, management fees, general and administrative expenses and dry-docking costs, but excluding $0.2 million of share-based compensation for the period. For the first quarter of 2008, total adjusted operating expenses were $6.1 million, or approximately $6,112 per day, including vessel operating expenses, management fees and general and administrative expenses and dry-docking costs, but excluding $0.1 million of share-based compensation.

...
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You guys read the report? They CRUSHED EARNINGS. Not a little gain. They slammed it home. Best QUARTER EVER in a slumping economy? Hang on for the rise fellas....It's going to 6

The Company reported net income of $19.2 million, or $0.71 per basic and diluted share for the first quarter of 2009, calculated on 27,077,348 weighted average number of basic and diluted shares outstanding for the period and reflecting the impact of the non-cash items discussed below.

 
New trading strategy for everyone, if I sell it, buy it.

Missed out on nearly $3K in gains by selling PRGN Friday. Another $1,300 by selling OCNF yesterday. But that's the way the cookie crumbles, I'm happy for everyone else that held on.

:thumbup:

 
itriple said:
10,000 shares at $3.79Just sold at $4.75Im up 10,000 * .96= $9,600 Sorry fellas I was gonna chase a stop up on this but it has gone up too much (does that make sense?). Im happy with the gain but I have a feeling we are gonna bust through $5 tomorrow.
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Whoa am I dumb :thumbup:
 
I think this result will look even better by the morning. They do slick PowerPoint Presentations too so we have that tomorrow. They did not dilute (or buy back either) so this thing could go even harder the second half of the year.

I think you are going to see some fund managers jump in this thing soon. Based on some other things I read earlier about Paragon, I think they went all out this quarter to get their share price above $5/share so they could get this investor money. I still think we could hear that JP Morgan is taking a large stake in this company soon here.

These guys are the best in the business and it's amazing that they are running at less than a P/E of 2.00 right now. What a joke. This stock is so under-valued based on these results that it's laughable.

As hard as it will be to hold, I plan on doing just that. I am going to wait for investor money as well as the obvious upgrades this management team richly deserves. I don't even know what a fair price should be, but at a P/E of around 5, this thing if off by at least a factor of 2.

 
Buckna said:
New trading strategy for everyone, if I sell it, buy it.Missed out on nearly $3K in gains by selling PRGN Friday. Another $1,300 by selling OCNF yesterday. But that's the way the cookie crumbles, I'm happy for everyone else that held on. :lmao:
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Hey, you made some nice coin and no matter what you can't kick yourself for it. Being too greegy is what gets alot a people in serious trouble. I sold off half of my OCNF and 1/3 of my PRGN too. Yes, I wish that I had not now, but I've been on the other side when it goes significantly bad and it is way worse of a feeling.
 
Cromedog said:
Buckna said:
New trading strategy for everyone, if I sell it, buy it.Missed out on nearly $3K in gains by selling PRGN Friday. Another $1,300 by selling OCNF yesterday. But that's the way the cookie crumbles, I'm happy for everyone else that held on. :lmao:
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Hey, you made some nice coin and no matter what you can't kick yourself for it. Being too greegy is what gets alot a people in serious trouble. I sold off half of my OCNF and 1/3 of my PRGN too. Yes, I wish that I had not now, but I've been on the other side when it goes significantly bad and it is way worse of a feeling.
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I had a nice paper gain on FEED today to cheer me up. Besides if I dwelled on every stock I sold too early I would have blown my brains out long ago. I once bought Apple back in 2001 when it was in the teens. Sold long before it made it to $200 a share. Nothing will every top that for a "what if I had just held on" scenario in my mind.
 
So for those of us that initially missed the boat on this (PRGN), is the water still nice enough to come in?

 
this thing won't stop going up after hours.

5.69 +0.95 (20.04%)

this is the best day of my life.

***Edit: not 1 minute later it's up a ton more. I can't keep up.

 
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Mose said:
moderated said:
this thing won't stop going up after hours.

5.69 +0.95 (20.04%)

this is the best day of my life.

***Edit: not 1 minute later it's up a ton more. I can't keep up.
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38,000 shares, correct?
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not quite that much anymore, but i did keep most of them. don't want to post exact as i don't want to cause any problems in the thread.i will say i'm in shock and have never experienced this kind of rush.

 
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