SFN: Thanks, Chris. I hadn't seen the recent 13G. Looks like for the 3/9 filing Ruane C. dropped their position from 6.2M shares to under 3M. That is not a good sign at all. Especially selling near lows.
Regarding "Do you like this stock better now", for me, because of the Ruane sale, I do not. Now I'm very uncomfortable with SFN. I'm going to try to hold on though not because of the spin off potential, but because the stock is hitting multiyear lows, the value metrics - p/sales, p/e, etc. look good relative to past years, and SFN SEEMs to have been able to grow earnings (through acquisitions). (I say "SEEM" because I wouldn't trust the numbers of any company that is headquartered in Ft. Lauderdale, FL.)
I defer to others, such as W. Crimi, who likely have done dd on this stock and know it much better than I do.
Paul Senior |
