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i want to see them spend money out of their own pockets to buy stock. options are a bs way to get stock or a quick cashless exercise. time for a change
sick and tired of the bs that this company does to it's share price. why doesn't management buy its own stock. pure bs. the only one that ever buys is swartz.
what has garnick done for us so far, imo nothing.
time for new management and bod
4pm 6/25/2010
There she blows again, down to the depths of the possible sub $3 range. When will PPHM make an announcement that keeps the pps up
shorts are trying to cover before the run up
They've have to be running out of shelf shares??
we got a mini rally going on here
UMASS was more or less spot on with all but one of his posts, for the most part.
I just don't understand why we cannot move up??!! Where is the insider buys??!! not...
SOS here
After hours trades last night are shown as sells. Does not make any sense. Artificial bid was raised to sell into IMO
When will our POS move up?
the problem is that they don't, except for the shares that swartz buys
ASCO - does anybody have any new information that may have been released today?
i'm long not nearly as much 15k and my friend is long 80k
geo how many are you long
more pps manipulation
PPHM is turning out not to be our friend
this stock has been on a vacation way too long
This stock is so manipulated by mm it's not even funny. all 100 share lots going off to bring this stock up and down, mostly down that is.
didn't i read that it has to average over $1 not close at $1??
mostly 100 share lots going off must be market makers
seems like even if PPHM can cure cancer, form a partnership of anything before these puts expire, the pps isn't going anywhere. nice, way to go hedgie
possibly
do you know if they were to open or close?
if they were sold to open, that would be a bullish strategy. meaning that you would be a buyer of the stock at the strike price. if the option doesn't go in the money, you just collect the premium and the option expires worthless
do we know if those puts were sold to open or bot to open?
Who bought today and who sold today?? I bought more.
i would take a steady $4 pps and staying above
agreed. there is absolutely no reason to spend a dime for these shysters to prepare a report.
who cares where it closed, its day 9 over $1
Looks like every day PPHM selling shelf shares
more like a golden shower lmao
long pphm
if they were sold to open, bullish
Sirius XM is Not a $0.25 Stock
By Rick Aristotle Munarriz , On Tuesday March 2, 2010, 10:07 am
Despite delivering better than expected results last week, Sirius XM Radio (Nasdaq: SIRI - News) has gone on to close lower in the two trading sessions since its robust report. It opened lower still this morning.
No matter how much it accomplishes -- from credit rating agency upgrades to generating gobs of free cash flow -- the boo-birds still find something new to chirp about.
One of the latest shots came in Friday's Wall Street Journal, where Heard on the Street's Martin Peers suggests that the stock is only worth $0.25.
Bulls are aghast. Shorts nod in approval. A quarter? It's a ridiculous notion, but investors should consider where Peers is coming from with his valuation, before dismissing it entirely.
The leveraged hand of enterprise value
There's no denying that a $0.25 price tag on a stock that is trading four times higher is a slap in the face. But a casual investor who pulls up a quote on Sirius XM would be deceived by the market cap implied by a $0.25 a share valuation. Sirius XM closed out the year with a weighted average of 3.6 billion diluted shares outstanding, though last week's 10-K filing has the actual number of common shares outstanding as of February 23 as nearly 3.9 billion.
The $0.25 price implies a market cap just shy of $1 billion -- an insanely low sticker for a company that just delivered pro forma revenue of $2.5 billion and $463 million in adjusted operating income last year (and fully expecting to improve on those sums this year).
We can't stop there, though. The 3.9 billion outstanding shares actually represent just 60% of the company. Liberty Capital (Nasdaq: LCAPA - News) owns a 40% stake in preferred shares, propping the actual share count to 6.5 billion. Accounting rules prevent Sirius XM from including those shares on its income statement until it turns a profit, but bean counters know the shares are there.
Now a $1.6 billion market cap with the Liberty Capital is still insulting. It's less than what Google (Nasdaq: GOOG - News) paid for YouTube -- before the site was even property monetized. However, we're still not done with this valuation exercise.
Sirius XM closed out 2010 with just over $3 billion in long-term debt. There's a little cash on the balance sheet, but accounts payable outweigh the cash and accounts receivables. Either way, the net debt is rounded off to $3 billion. At the seemingly insulting $0.25 a share point, Sirius XM would command an enterprise value of approximately $4.6 billion.
When the consistently profitable DirecTV (NYSE: DTV - News) and DISH Network (Nasdaq: DISH - News) trade at enterprise value to revenue multiples of 1.7 and 1.0, respectively, the $0.25 a share mark would pit Sirius XM at premium ratio of 1.8.
Peers leans on the company's adjusted EBITDA guidance of $550 million for 2010, suggesting that Sirius XM deserves a forward enterprise value-based multiple of 8, instead of 18 where it is now.
In other words, trading a single share for a quarter isn't as horrendous as it may initially sound -- until you realize why Peers is wrong.
Peers pressure
There are a few rudimentary things that are missing from the analysis.
For starters, Sirius XM's leverage also treats a low share price almost as a stock option. After all, Sirius XM's enterprise value to this year's adjusted operating income multiple can't dip below 6, because that would price the shares below zero.
Another thing missing from Peers' analysis is the value of the satellite-radio giant's net operating loss situation. Sirius XM lost $529 million last year, adding to its grand total accumulated deficit of $10.2 billion since its inception. The majority of that can be used to offset the tax liability on future profits.
In other words, it will be a long time before Sirius XM is paying material taxes on its future profits (and they're coming -- with its barely profitable fourth quarter a positive sign of things to come). Sirius XM's losses aren't pretty in the rearview mirror, but it represents billions in tax savings at today's corporate tax rates.
The final point that Peers is missing is that comparing satellite radio to satellite television -- or even cable broadcasters including Comcast (Nasdaq: CMCSA - News) and Cablevision (NYSE: CVC - News) -- is woefully nearsighted.
We don't know what Sirius XM's margins will look like when it really gets cooking. Unlike the television subscription services that have to pay escalating costs for content, there is no ESPN or MTV that is has to carry. Subscribers value satellite radio's deals with pro sporting leagues, Howard Stern, and cable heavies such as CNBC, but there is little stopping Sirius XM from controlling its programming costs by providing more proprietary content.
Premium radio will never come to close to commanding the markups for premium television, but Sirius XM has far more wiggle room beyond the cost of maintaining its expensive satellites. Sirius XM offers a more open-ended future, and that is why the stock has skyrocketed over the past year -- and why it's not going to see $0.25 a share again.
Where do you think Sirius XM will be trading by the end of 2010? Extra value points will be scored if you can justify your valuation in the comment box below.
Copyright © 2010 The Motley Fool. All rights reserved.
Bot June 1.0 yesterday at .15
Amazing, how GVBP a pump and dump has run up on BS press releases on cancer patents, deals etc... and our PPHM goes down on real news and trials. Go figure
Long PPHM, first time posting on this board. Between myself my friends, we are long almost 400,000 shares of PPHM. Cost basis from .25 on up. For the life of me I cannot understand why this stock is still below $1 with a low market cap. With all positive data that they release, this should be a much much higher stock.
Who can explain this to me.
wow very newsworthy
24 hours and they can't fix the misspelled capital on the new website???
that is too funny
red sells and we go up!!