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Strategies & Market Trends : Fundamental Value Investing

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To: bruwin who wrote (1129)	4/16/2010 3:36:46 PM
From: The Ox	1 Recommendation Read Replies (2) of 4719

$163.5 Million bet short against EBIX as of 3/31. 200K more shares in the short position vs. 3/15. Hard to believe the shorts don't "know something" but it certainly may be a bunch of trapped positions. Market cap of $563. 29% of the company has been shorted. The 2 analysts who cover the stock have a buy or strong buy with the lower of the 2 target prices at $21/share. The 5 recommendations in the TD Ameritrade forum all have buy or strong buy. Current eps estimate for next FY is $1.38, taking the low end revenue growth estimate of 14% would imply a $19 stock. Taking the 18% 5 year growth estimate would imply a $24 stock. None of this adds up, imo. They have exceeded eps estimates consistently and the short position grows!

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