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Non-Tech : Ingram Micro

IM 38.89

0.0%

Dec 13 4:00 PM EST

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To: flickerful who wrote (429)	12/21/1999 3:11:00 PM
From: Jack Hartmann	Read Replies (1) of 576

Flick, When I see the 526K sell, it makes me think it was an institution selling or an estate selling. I wish I had the 6/30/99 Vickers for IM then we could see if the funds were new vs. old. Net Institutional holding per Vickers was: 3 Mo. Shares Purchased (Mil) 15.934 3 Mo. Shares Sold (Mil)18.650 Or 3 million net loss of holding by institutions. A fund that bought IM at $30 in August probably gave up for a IM turnaround and took a tax loss. I don't see that fund buying IM again. Tough to convince fund shareholders that rebuying a stock that lost 50% is a good idea. Sure way to get redemptions. Looking at the volume for a year. January 1999 and Sept 99 were the largest by far for IM. Sep 99 was notable for the drop in price from $25 to $13. Not owning IM then, I figure it was earnings disappointment (only 0.12EPS) that cause the selloff. IM's online revenues are the key to the success of the company. It has not waited so set up an internet shop. The fact that it is in the top 20 for online revenues per Interactive Weekly shows that it is working. EPS this 12/99 quarter is expected to be 0.24 with 0.27 in March 2000. Price should be up to $17 by release of the 12/99 earnings. This is based on the fact that IM revenue are growing at 30+% annually 39 WEEKS ENDING 10/03/98 Revenues were $15,814,183 39 WEEKS ENDING 10/02/99 Revenues were $20,240,181 Also, Q2Q EPS growth would be 100% from the quarter 9/30/99 to 12/30/99. The only downside is that analysts blow the earnings, but this hasn't been the case for IM in the past. Jack

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