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Non-Tech : YSII - Youth Services International
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To: Towntarget who wrote (10)6/5/1998 1:27:00 PM
From: Quilty  Read Replies (1) of 15
 
To All,

YSII looks cheap down here, clearly way oversold. It seems to me a pretty decent target for a takeover, although I would never buy a stock solely on that speculation. Still, this industry is being consolidated (YSII has been active on that front) and what seem short-term issues have really punished the company, in my opinion to an unwarranted degree, although I think management (ex-Wackenhut) have shown themselves to be poor executers. Still, the fundamentals of the industry seem very much intact and another, more skillfully managed group might view this an opportunity to pick up a bunch of beds on the cheap. As a buyer around $14, I wish I'd never heard of this company; still, I bought a large position in calls yesterday with the view that the stock had bottomed and management would soon be pressed by larger shareholders (most of the company seems to be owned by a small handful of players, management owns far less) into doing something to create shareholder value, whether through a stock repurchase ($20M in cash) or a change in management. Either of these would seem to create a floor under the stock and attract buyers. My fond hope is for a takeout so I never have to see this name again! Best of luck to everyone. Question: does anyone have any contacts in the industry who may have a closer call on this?

Q.
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