CLCT stock $15.51, is at a 52 week low
KollectorKing
Posts: 4,820 ✭✭✭✭✭
What's going on?
0
KollectorKing
Posts: 4,820 ✭✭✭✭✭
Comments
Down 40% today, I was wondering the same.
Q2 earnings released. I'll listen to the call shortly.
Latin American Collection
SANTA ANA, Calif. (AP) _ Collectors Universe Inc. (CLCT) on Wednesday reported fiscal second-quarter earnings of $159,000.
On a per-share basis, the Santa Ana, California-based company said it had profit of 2 cents.
The provider of authentication for collectibles posted revenue of $14.1 million in the period.
Collectors Universe shares have decreased slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.54, a rise of 14 percent in the last 12 month.
To expand the operations and maintain sufficient cash flow, the quarterly dividend was cut in half.
Reduced earnings and cut their dividend in half. That'll cause a valuation reduction for sure.
Without the big dividend ... look out below.
Easy $$ I bought 1.2K shs
You are assuming price will bounce up again after the 50% reduction in dividend plus slow down in revenue. I don't think there is any easy $$ here..............
Best, SH
The drop was too huge to ignore. I bought below 17 & anything above that is easy money, $17.95.
$18+
Shares of Collectors Universe (CLCT -32.9%) bottom out after FQ2 results fall short of expectations.
Revenue for the period fell 21% Y/Y to $14.1M as coin service revenuue plummeted.
CEO update: "Despite another record performance from our PSA and PSA/DNA division, the decrease in coin submissions in China, weakness in the vintage coin market and a substantial decline in modern coin sales at the U.S. Mint combined to adversely impact our overall results."
Source
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Look at the b> @messydesk said:
Maybe this will translate into reasonable turn around times for coin submissions.
You only insure making money if you sell now. If you wait too long it may flip the other way and seek a deeper bottom..... This kind of trading for a stock with obvious issues (lower revenue/profit, drastic reduction in dividend), you will need to stay on top of and try to time it. IMO the short upswing this morning is all of the folks trying to get in and quick flip, pushing it higher temporarily. So you will have to watch carefully to insure easy money. Lots of risk here.
Best, SH
The decline in submissions in China is surprising to me. What's the rest of that story?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Totally agree. It's call day trading.
I am in the investment business.
While this could be a buying opportunity, A rally after a huge drop like which has happened to this stock is often called :
“A dead cat bounce.”
(Please don’t ban me for that one.)
Didn't the big move affect their bottom line too? A fundamentally sound company, it is sure taking a long time for submissions now which must have something to do with their being busy? Is NGC likely having the same issues?
Hmmmm. 2 shares CLCT , or one submission ?
The investor/ coin geek in me is confused.
Maybe we'd get faster turnaround if we sent our coins there?
How many insiders are selling? That should be a clue/tipoff.
I'm out 200 @18+ & 1000@17.75.
Avg volume 3mos 25.5K shs/day
Today so far 456K shs.
I was thinking about buying last week. Sure glad that I didn't.
A bad earnings report in the middle of a stock market correction is a bad thing. Shoot...a 30% haircut. Could be a nice buy at this price.
Dave
Totally agree but it's fun to day trade & make a few bucks.
I'm tied up on both aapl & amzn otherwise I would've bought more than 1.200 shs.
I feel fortunate to have bailed out on GE @ $25.00 years ago.
I guess it is time for them to loosen up again. I think submitters are getting tired of of overcorrection. Almost everything with color is in a genuine holder now and some of the grades have been brutal.
Opportunity abounds. The market is alive and well...... Well , being a deep subject.
Its better for every one except PCGS in the long term if they remain firm on grading standards. They have allowed the line to move too many times seriously hurting the folks that count-collectors. If they can afford to stay tight the left overs will go away and we will have a much better overall market. That would also further their existence.
A known fact was also for years PCGS was bleeding cash to pay the divvy. There should be no surprise here. I question are they that clueless not to see this coming? Why did they count so much on China?
$17.17, not bad since it did not test the 52 week low on a massacre day;
ahh the "divvy", the familiar use of "the dividend"
Latin American Collection
When you crack a nice CAC older holder and the grade goes down 2 points, something is wrong, and we stop submitting coins. I am also not a fan of being forced to take the TrueView and Gold Shield service on my $65 service level. Why do I not want the TrueView on every coin? Sometimes they exaggerate insignificant marks and when I sell the coin, it is presented in a bad light, against my choice. Sometimes the coin looks too good on the TrueView. I should be able to choose if I want someone to present MY coin the way they think is best.
And the roller coaster ride continues.
100% Positive BST transactions
Unless you are liquidating permanently and need coins regraded. A few months of ultra conservative grading isn’t going to turn this market around after a decade plus of grade inflation. Inflated grades can help balance out the lowered prices resulting from grade inflation if you are lucky.
.
What is this thing you speak of?
And the beat goes on........Stocks, stock market dips and record highs....The worlds largest casino....Put your money down and take your chances.
Cheers, RickO
I don't know if my money goes faster in the stock market or the actual casinos. I seem to keep getting this "buy low and sell high" thing backwards. Dropped 35k between the two just yesterday and by far the most was at the casino.
People would have done better with the right PCGS certified coins with cac stickers than with the stock.
If I am reading the transcript from the earnings statement correctly, they might not be able to afford another grader even if PCGS wanted to do so:
It sounds like my net income after all the expenses in numismatics.
And how much of that is in short term gains taxed as ordinary income?
There is a momentum ETF, (MTUM) if you are interested in following momentum. And it won’t take up any time!
$16.17 anyone interested?
The stock took the plunge on very heavy trading volume...that's usually not good for the immediate future, but ya never know for sure.
The US Mint is keeping CLCT stock afloat with the modern stuff.
Nope.