Invests in fixed income markets. Focuses on securities rated between BB and C by Standard & Poor's. Now — the numbers.
This is an established company with proven profits.
No real growth (3% a year). Red columns mark years that ended in a loss.
The market pays 13.5× for every dollar of annual profit — cheap, which is either an opportunity or a warning.
No analyst target is on record for this company.
Executive selling isn’t always bad news; people sell for personal reasons too. Still, the thin buying side is worth noting.
The stock trades 35% below its peak. The market has trimmed its expectations for the company.
The net profit margin is 66% — still a thick cushion, though costs have been eating into it lately.
It pays out $1.11 per share each year — regular cash for whoever holds the stock.
Over the last 4 years, sales grew only 3% a year on average. At this size, speeding back up is not easy.
Over the last 12 months, executives reported 6 sells against just 0 buys. Not an alarm bell by itself, but a number worth watching.
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.