Institutional Investors

Selling PVCS +13% (vs Initial Post)

I am selling out of PVCS which I entered at 21.68 at 24.5.  I already exited half at a 7% loss.  This half I am exiting at a 13% profit. (+3% overall – so poor)

Q3 hedge fund letters, conference, scoops etc

PVCS

mohamed_hassan / Pixabay

I am concerned returning the cash is taking too long and that they will try to invest it rather than return it – which is what lots of the value investors in this want.

Note they said on 15th March:

“Following receipt of the funds from the arbitration award mentioned above, the Group is expected to have a substantial net cash position. In the light of this the board intends to explore options for the future of the Company in order to maximise shareholder value. These may include a cash return to shareholders, the acquisition of an existing business or a combination of these alternatives.”

They have had ample cash for quite a while now – if they wanted to return it they could have.

So I am out here.  Best of luck to holders.

Article by Rob Mahan, Deep Value Investments Blog


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