DCIX - swing for me based upon the balance sheet and the
fact that insider's own over 40% (see transaction a couple months
ago where CEO exchanged $10 million at $1.05) I will trade around
my core into spikes and dips as per my style. DCIX has a book
value of $3.00 per share BUT I discount that down based upon the
carrying value of the ships - so let's say around $2.00. The
company has only a tiny amount of liabilities currently. Just
depends what management has up their sleeve (they are greedy for
sure).
The parent company DSX could acquire as one possibility - DSX
also trades at discount to hard asset value and thus they are
buying back stock aggressively (see past year)
lsherrer - examine the balance sheet of DCIX and discount down
the dry bulk ships to around $55-60 million to be conservative.
They just sold 2 of the 4 for a total around $29 million.
All these ships are unencumbered (fully paid). They
also have $16 million in cash (no debt) on balance sheet.
Thus they will use these monies along with the $10 million
from the CEO transaction (posted below) to fund the purchase of the
2 new tankers. One of the tankers is already in the
fleet with the other due around November. They have 36.28
million shares outstanding.
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DCIX Swing Updated View
Posted by steve on 27th of Sep 2019 at 09:38 am
DCIX - Chart Link
broke out, but alot of
Posted by mrjasongill on 27th of Sep 2019 at 11:37 am
broke out, but alot of profit taking. Still a good buy longer term steve?
DCIX - swing for me
Posted by steve on 27th of Sep 2019 at 11:45 am
DCIX - swing for me based upon the balance sheet and the fact that insider's own over 40% (see transaction a couple months ago where CEO exchanged $10 million at $1.05) I will trade around my core into spikes and dips as per my style. DCIX has a book value of $3.00 per share BUT I discount that down based upon the carrying value of the ships - so let's say around $2.00. The company has only a tiny amount of liabilities currently. Just depends what management has up their sleeve (they are greedy for sure).
The parent company DSX could acquire as one possibility - DSX also trades at discount to hard asset value and thus they are buying back stock aggressively (see past year)
I have a small chunk
Posted by lsherrer on 27th of Sep 2019 at 11:58 am
I have a small chunk of this too. I'm prepared to swing it. At what point would you consider it fairly priced?
lsherrer - examine the balance
Posted by steve on 27th of Sep 2019 at 12:08 pm
lsherrer - examine the balance sheet of DCIX and discount down the dry bulk ships to around $55-60 million to be conservative. They just sold 2 of the 4 for a total around $29 million. All these ships are unencumbered (fully paid). They also have $16 million in cash (no debt) on balance sheet. Thus they will use these monies along with the $10 million from the CEO transaction (posted below) to fund the purchase of the 2 new tankers. One of the tankers is already in the fleet with the other due around November. They have 36.28 million shares outstanding.