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Non-Tech : Hvide Marine HMAR - High Growth, Undervalued -- Ignore unavailable to you. Want to Upgrade?

To: Wallace Rivers who wrote (380)	5/10/1998 4:50:00 PM
From: Greg Jung	Read Replies (1) \| Respond to of 547

Wall street loves high leverage, which is how TMAR and HMAR are operating. In the news via the SI link there is an S&P outlook: negative on the Hvide debt, not that they couldn't service it but that it was alot. Management looks to sell stock to reduce the debt, but not at current market prices. - levaing it in a catch-22. Its "undervalued" but if the price rose enough then we would have a dilutive sale. They only used 0.04 to reduce debt so cash levels are probably also tight. No doubt the firm that issued the $35 target will be underwriting the new stock. Greg