Greetings SW everyone and I would like to pass along some information (in part) about TBAE from a newsletter I subscribe to. This is reprinted with permission.
Featured Stock Update - TBAE & TBAEW from FINANCIAL INTELLIGENCE Newsletter:
Some time back we featured TBA Entertainment as a stock that could be considered grossly undervalued based on some of today's more insane market valuations. TBAE is making a lot of money and has increased its revenues dramatically over the past 15 months, but this has not been reflected in the stock price in the way one would expect it deserves.
TBAE currently trades at $4.20 and the warrants which are exercisable at $6 with over a year to run are trading at just under $1.00. Based on similar warrant examples, these warrants are cheap and deserve a much richer premium. TBAE has been basing out for a long time for two years now, so it could be ripe for a breakout. The Technical structure seems to suggest that this may be about to happen. Seems like $4 is a good launch point for a rebound to $5. But this time the resistance around $5 could be taken out in a meaningful way, setting the stage for a possible run to $8 at the low end and possibly $12 at the high end of a new range. Such a move would bring this burgeoning entertainment management company closer to the realistic values of companies that have a strong balance sheet and above average growth.
There are Eight million shares outstanding and the company has an ongoing share buyback program in effect. From information obtained which we believe reliable, a good portion of the shares are held by clients of many blue chip brokerages and financial institutions.
Among them: Dane Ruachser 1.1 Million, Merrill Lynch 600,000, Bear Stearns 550,000. Citigroup 300,000, Solomon Smith Barney 220,000, Paine Webber 100,000, YDSA 700,000, NFS 150,000. Schwab 228,000, JC Bradford 250,000. Other majors 250,000 and all the rest.
Not a bad portfolio of holders. Their Website is tbaent.com
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