A Special-Situation With an Active Catalyst

Also includes a fortress balance sheet with hidden assets worth 2x the market cap.

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Today’s business is the beneficiary of an activist campaign and business restructuring.

The net result is a streamlined business focused on generating cash for its owners.

In fact, the market cap today is around $270m but they have returned over $600m to shareholders in the last 3 years.

Meanwhile, the market price is still disconnected from the reality of the new-look business.

There are a few issues to be aware of, but overall this is a cash-machine business that is currently cheap.

Let’s take a closer look…