Looking at KENT:
2 for 1 stock split explains the spikes, plus company has bought back some of its shares.
Kent Financial Svcs
Address: 376 Main St.
P.O. Box 74
Bedminster, NJ 07921
Telephone: 908-234-0078
Operates as a licensed broker-dealer in all states and Washington, D.C. and is a member of the National Association of Securities Dealers, Inc., and Securities Investor Protection Corp.
Market Capitalization (Mil): $12.2
Current Outstanding Shares (000's): 1,992
Number of Institutional Shareholders:7
Shares Held By Institutions (000's): 308
Percent Shares Held By Institutions: 15%
From last 10QSB:
Kent Financial Services, Inc. (the "Company") had consolidated cash and cash equivalents (U.S. Treasury bills with an original maturity of ninety days or less) of $8.9 million at September 30, 1998. At the same date, the Company also had securities owned of $3.7 million. See Note 3 of Notes to Consolidated Financial Statements for additional information on the valuation of securities owned.
Net cash provided by operations was $2.3 million and $1.3 million in the nine months ended September 30, 1998 and 1997, respectively. Cash flow from operations for the nine months ended September 30, 1998 increased from the comparable period in 1997 principally from net income, the change in accounts payable and accrued expenses and the change in the net receivable from clearing
broker, partially offset by the change in unrealized gains/losses on securities owned.
Net cash used in financing activities of $147,000 and $211,000 for the nine month periods ended September 30, 1998 and 1997, respectively, resulted principally from the Company's purchase and retirement of its common stock and the continued payments on the mortgage loan collateralized by the Company headquarters facility. The Company believes that its liquidity is sufficient for future operations.
All share amounts and per share data have been restated to reflect a two-for-one stock split, effected in the form of a stock dividend, declared on October 15, 1998 and payable on November 9, 1998 to holders of record October 26, 1998.
Good Luck, looks interesting.
Have fun and make money
Alan |
