CNC did refinance recently, with an equity infusion from a private investor who has a good track record in picking undervalued stocks. Insiders have been huge open market buyers of the company's stock, and in fact now own around 20%, if I remember correctly.
However, it turns out the company has been guaranteeing loans for employees to buy stock, and the Street doesn't like that too much. Personally, to me a debt is a debt and if insiders are willing to be massive buyers of stock on margin, then that is bullish.
Free cash flow, by definition, is operating cash flow minus capital expenditures and other similar commitments. Hence, asset liquidations, since they are one time gains/losses, are subtracted out in determining operating cash flow, would not increase free cash flow. |
