ECN Capital | StockChase
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ECN Capital (ECN-T)

Last Price Recorded: $4.1100 on 2017-11-17

ON STOCKCHASE SINCE Oct 2016

Financial Services

ECN Capital


Signal Opinion Expert

2017-09-25

WEAK BUY
ECN Capital (ECN-T)

It was a spinoff of Element Financial.  He buys when it dips below $4.  They are getting into lending for home renovations.  They are quite undervalued.  It remains to be seen how fast they can grow the company from here.  There is some good long term value creation in the name.

Financial Services
Stephen Takacsy, B. Eng, MBA

Chief Investment Officer & Portfolio Mgr, Lester Asset Management

Price: $3.960
Owned: Yes

2017-08-01

PAST TOP PICK
ECN Capital (ECN-T)

(A Top Pick Sept 6/16.) Split into 2 companies. ECN Capital (ECN-T) was up 21%, while Element Fleet Management (EFN-T) was down 11%. He likes both.

Financial Services
Alex Ruus

Portfolio Manager, Arrow Capital Management

Price: $3.950
Owned: Yes

2017-01-19

SELL
ECN Capital (ECN-T)

Had owned this before the split and did okay on it. CEO couldn’t consolidate the fleet business more aggressively and there wasn’t a lot of growth, so he split the companies and then proposed the structure. Thinks it was completely full of conflicts of interest. The investment community is supporting this because the CEO is a wonderful guy in promoting things. Sold his holdings, because he won’t invest in companies where he doesn’t have confidence in the management team. This has been a massive destruction of shareholder value.

Financial Services
John O'Connell, CFA

Chairman and CEO, Davis Rea

Price: $3.210
Owned: No

2017-01-12

COMMENT
ECN Capital (ECN-T)

A recent spinoff from Element Financial. The stock has had a hard time getting anything going. However, the valuation of the business looks compelling and is something he is watching. It should improve if you believe in his thesis that the economy is improving in the US. This is a name that should do well in that environment. He is a bit cautious on this, but is following it.

Financial Services
James Telfser

Partner & Portfolio Manager, Aventine Management Group

Price: $3.210
Owned: No

2016-12-29

HOLD
ECN Capital (ECN-T)

He likes this. It was a spin out from Element Financial, which split into 2 companies. About 80% of the value went to Fleet and 20% to this company. Almost all the analysts were of the view that this should be priced on a Price to Book, so if you say it is worth at least BV, which is approximately $4, it should trade up. They recently sold some rail assets, which went for about 1.2X Book. With that, you could get up to about $6 for this. Also, there are a couple of catalysts coming up in January to move some of their rail assets into a third-party vehicle, which will put a revaluation on those assets.

Financial Services
Jerome Hass

Portfolio Manager, Lightwater Partners

Price: $3.210
Owned: Yes

2016-10-04

BUY
ECN Capital (ECN-T)

Recently bought the stock. This is the 1st day that Element Financial shares are formally split into 2 companies, ECN Capital (ECN-T) and Element Fleet Management (EFN-T). Thinks both are undervalued. He tends to do this in terms of the Price to Book ratio. The BV is more or less about $4, so if you assign a Price to Book ratio of 1 to 1.25, you get a price of $4-$5 for a share price. Both companies are looking to do some acquisitions which could transform things in the next couple of quarters, but both assets are attractive right now.

Financial Services
Jerome Hass

Portfolio Manager, Lightwater Partners

Price: $3.380
Owned: Yes

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