Asta Funding, Inc. (ASFI) Message Board

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Non-Tech : Asta Funding, Inc. (ASFI)

ASFI 13.08

0.0%

Sep 29 4:00 PM EDT

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From: JakeStraw	5/2/2007 8:07:31 AM
	of 46

"Among Snell's favorites for 2007 are Asta Funding (nasdaq: ASFI ) and Portfolio Recovery Associates (nasdaq: PRAA ). Both are consumer finance companies that specialize in charged-off consumer debt. The companies buy all types of distressed consumer loans (credit cards, mortgages, utility bills, etc.) for pennies on the dollar. Though Snell warns that it is a difficult business and not many companies do it well, she has both companies as a "buy." Asta works nationwide and had a 25% return on capital. In March, the company purchased for $300 million a portfolio of debt with face value of nearly $7 billion. Snell notes that Asta has a good history of buying debt in which it can get consumers to pay back most of what they owe. She thinks that this purchase, one of the largest in the industry, puts Asta in a strong position to continue its growth through 2007 and into 2008." forbes.com

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