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Non-Tech : Gentex (GNTX)
GNTX 24.49+0.7%Jan 6 3:59 PM EST
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To: Robert Henry who wrote (170)3/2/1999 10:27:00 AM
From: Mark Brophy   of 196
 
You're reading it right.

But, Bauer's 4.5% is a huge number of shares and he plans to sell 10%. The really significant fact is that so many different insiders are selling. That wouldn't be happening if the stock were underpriced.

They're managing the stock price well. They should try to maintain the P/E at 32. If they run their business well, the big long-term shareholders like Bauer should be able to dump 5-15% of their shares each year without crashing the stock price.

I like to buy grossly undervalued companies that have some chance of doubling within a year. I can't imagine that happening with Gentex because Bauer will sell a lot of shares if it goes over 30. We won't see another Internet bubble.
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