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Opinions James Hodgins
Indigo Books & Music Inc.IDG.TOTOP PICKNov 15, 2010
Pair Trade going Long this and Short Hastings Entertainment (HAST-Q). Physical book market is in permanent decline. This company has anticipated this and came out with Kobo, one of the leading e-readers. Has about $6 a share in cash.
James HodginsOwned
$15.30
Stock price when the opinion was issued
$2.49
As of Jun 04, 2024. Market Open.
specialty stores
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COMMENT
Stuck in a very tough business environment. Being affected by online businesses or you can now get books. Also a lot of tablets, where you can get online books, will make it tough for them. They were a large owner of Kobo, which was just sold so they should net $70 million-$80 million free cash which should help them sustain the dividend.
specialty stores
PAST TOP PICK
(A Top Pick Nov 15/10. Up 6.49%.) Pair Trade going Long this and Short Hastings Entertainment (HAST-Q).
James HodginsOwned
specialty stores
PAST TOP PICK
(A Top Pick Nov 15/10. Down 13.8%.) Pair Trade. Long this and Short Hastings Entertainment (HAST-Q). Total return of the pair trade was about 1%. Intrigued by their global platform. Has evolved from a book store chain to a specialty retailer.
James HodginsOwned
specialty stores
PAST TOP PICK
(A Top Pick Nov 15/10. Up 0.91%.) Pair Long this and Short Hastings Entertainment (HAST-Q).
James HodginsOwned
specialty stores
COMMENT
Advent of digital books and e-readers is an opportunity for them. Near-term earnings are going down a bit as they put money towards the electronic initiative. Earnings were down 21% year-over-year and coming quarter expected to be up 6%. Earnings expected to slip from $1.22 in 09 to $1.17 in 10 and forecasting 15% growth in 2011. 11X PE.
specialty stores
PAST TOP PICK
(A Top Pick July 7/05. Up 15.5%.) Had built a base and then it broke above the 200 day moving average. It's still trending higher.
Ron MeiselsOwned
specialty stores
TOP PICK
Has built a gorgeous base. Broke through its trend line. No news on it which he likes.
Ron MeiselsOwned
specialty stores
