Basic description
abte.com
Forcasts
earnings.nasdaq-amex.com
I think the best part is the recent institutional buying
Institutional holders
WellingtonManagementCompany,LLP__*574,9000
GardnerLewisAssetManagement,Inc.___*410,0000
GreenvilleCapitalManagement,Inc.______304,972
JohnHancockMutualLifeIns.Co._______*286,653
DimensionalFundAdvisors,Inc._________222,800
BlueRidgeCapital,L.L.C.______________220,000
FleetInvestmentAdvisors(Mass)_______*200,080
TheVanguardGroup_________________143,600
BarclaysGlobalInvestors,N.A._________128,026
SmithBarneyAssetManagement________103,000
TopTenTotals:_____________________2,594,031 +1,538,808
*Denotes new position in most recent quarter.
This was once a company attacked by the shorter Asensio because they had floorless convertible debentures and he helped to short it down, but they have since brought in people to clean up their financial position - which includes help from Worldcom. They do about $200 mill a year in work for Worldcom at a fixed profit level, and Worldcom has lent them a bunch to clear out all the remaining debentures. Worldcom also owns a good percentage of Able shares following Able's buyout of MFS.
Still about 2.7 mill shorts, although that is falling (a bit less than 25% of the # of outstanding shares). Still a good squeeze is certainly possible.
I am quite confident, but it might not really move until the annual meeting and they get to clear up all the remaining problems with their financing.
David |
