Old news for background;
Crown Group Sells 45% of Its Inktomi Investment for $11 Million Profit
Business Wire - December 17, 1998 17:30
DALLAS--(BUSINESS WIRE)--Dec. 17, 1998--Crown Group, Inc. (Nasdaq:CNGR) today announced that it has sold 100,000 shares of Inktomi
Corporation (Nasdaq National Mkt:INKT) common stock, for net proceeds of approximately $120 per share, in a series of private transactions over the past
several days.
The transactions generated proceeds of approximately $12 million and result in a pretax gain of approximately $11 million. Crown purchased a total of 222,222
shares of Inktomi common stock in a private transaction in February 1998, prior to Inktomi's initial public offering in June 1998. Crown continues to own
122,222 shares of Inktomi common stock
*** Now with 9 1/2 million shares outstanding that is appx $1.25 potential earnings THIS Quarter........... Here is the $64 question, Did they sell the OTHER 122,000 shares on the last $160-170 price run-up???????????????
INKT earnings today. If they sold more shares on the run-up there will be in excess of $2.50 per share gain this Q.......
Take in consideration that CRGN (CROWN GROUP) share price is 6 1/8.
Etrade showing rev growth of 600%, trailing pe 27. Figure the forward pe with no more sells could get as low as 4, if the last shares were sold and they broke even on the rest of their business pe could be less than 3, excluding taxes which may push these ratios up by 30%.
****Food for thought and my opinion only... |
