Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who wrote (1244)	3/21/1998 5:44:00 PM
From: Ken Brown	Read Replies (1) of 18998

Mr. Pink, Do you have any opinion on CMI (Complete Management, Inc.)? They are a physician practice management company (tough sector recently). The stock hit a high of 20 back in mid-Oct, and has fallen steadily ever since. As far as I can tell, there hasn't been any negative news from CMI to account for the drop. Friday it dropped through an important support level to 9 1/2, so it looks like there's more downside action yet to come. FY97 earnings are a bit late - that might be the cause of Friday's drop (IR had said they were expected around 3/20). Fundamentally, it's trading at just 1.1x book, pe < 9 on est. FY98 earnings (with an estimated 5-yr growth rate of 30%), and 1.5 PSR. Is it all sector-related? Or do some people know something I don't (that sure wouldn't be a first). There's a very high short ratio of > 17 days to cover. If you have an opinion on it, I'd love to hear it. Thanks, Ken

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