Parlux (PARL) Fragrances Message Board

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Non-Tech : Parlux (PARL) Fragrances

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To: notime who wrote (165)	12/10/1996 6:32:00 PM
From: nick haines	of 527

I have just bought a sizable block of parl shares for my personal account. as a professional money manager, the stock is tremendously undervalued: its p/e ratio on historical earnings is below 7.0 x and it is trading at 80% of book value. Management is astutely redeeming the convertible preferred shares which will prevent further dilution. Ladies and gentlemen, the reason the stock has been falling is because (i) institutional money managers have been dumping the stock because of the incrediblely dilutive way management has been financing the company (ii) tax related selling (Many institution have a basis in the stock above $10. I know the niche cosemetic industry well and their are several companies which would love to acquire parlux brands - perry ellis, phantom of the opera, todd oldham - for a premium on the current market price. In the next six months, the Company will be sold for at least $8.00 - $9.00 a share, a price which is only about a 15 p/e multiple. Haas Wheat, a preeminent buy-out firm, offered $10 a share in July for the Company remember. BUY PARL - it is one of the few seriously undervalued stocks on the market today

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