I think SWS is one of the most undiscovered, unloved, in addition to well managed companies on WS.
Its business mix is impressive - Westwood, CSS, bricks and mortar brokerage, mydiscountbroker, market making, as well as others.
Earnings appear to be blow out - their report was in the .70 range vs. sole analyst (per Yahoo) that follows of low .50s. Therein lies part of the problem - lack of sponsorship.
BV of about $20.
I like the conservative way which they are financing the mydiscountbroker.com ad campaign (although I don't think the ads are great) - no debt being taken on, rather the company sells a partial position of its NITE holdings (still owns a ton).
There always is the sniff of merger/takeover around this company (virtually any other in the financial services sector, as well), but that's not the reason I bought.
Best,
Wallace |
