Invests primarily in long-term municipal obligations to generate tax-exempt interest income. Manages a diversified portfolio of investment-grade municipal bonds. Now — the numbers.
The company closed last year at a loss: costs ran above sales. The picture changes only if spending is reined in.
Before the clock runs out, either sales must climb sharply or new money must come in. This is the most critical line in the whole picture.
This company is not turning a profit, so the market is pricing its sales instead: 16.9× for every dollar of annual revenue.
No analyst target is on record for this company.
Executives buying with their own money is usually read as confidence in the company’s future.
angles, checked one by one.
The 2 that stand out are on screen; the rest came back neutral.
The council scores out of 10; report-card grades are out of 100.
Cost Efficiency: As sales grow, profit fails to keep the same pace.
The stock trades 36% below its peak. The market has trimmed its expectations for the company.
Over the last 12 months, company executives reported 29 buys and 5 sells. Management buying with its own money is usually read as a good sign.
It pays out $0.70 per share each year — regular cash for whoever holds the stock.
A loss of $54.0M against $45.0M in annual sales. And on top of that, sales fell from the year before.
At the current pace of spending, the cash lasts less than a year. After that, the company needs to find new money.
We grade companies — revenue, margins, balance sheets. This is a fund, so there is no report card to give. That is not a low grade; it is a different kind of thing.
One-line summary: a basket, not a business. Judge it by what it holds.