Wednesday, April 15, 2009

Despite Recent Market "Run-up", Still plenty of Net/Nets

Markets have recently bounced nicely off their March lows, a situation which might typically create a "rising tide lifts all boats" effect. But while the Russell Microcap Index is up more than 30% from March 9th, there are still plenty of net/nets.

A recent, un-scrubbed screen revealed 325 companies with market caps greater than $5million trading below their net current asset value. While that's more than 100 fewer than the 433 we revealed in our March 2nd post, there's still plenty of opportunity in the land of the lost.

Here are the top 5 Net/Nets by market cap:

Ingram Micro
Ticker: IM
Market Cap: $2.08 billion
NCAV: $2.247 billion
Mkt Cap/NCAV: .93
Price: $12.85
Cash/Share: $4.7

Ticker: SKX
P/E: 6.5
Market Cap: $357 million
NCAV: $394 million
Mkt Cap/NCAV: .91
Price: $7.72
Cash/Share: $2.5

Ticker: ADPT
P/E: 49
Market Cap: $335
NCAV: $370
Mkt Cap/NCAV: .91
Price: $2.75
Cash/Share: $.8

Ticker: IMN
P/E: 7
Market Cap: $336
NCAV: $399
Mkt Cap/NCAV:.84
Price: $8.91
Cash/Share: $2.6

Facet Biotech
Ticker: FACT
Market Cap: $240
NCAV: $315
Mkt Cap/NCAV: .76
Price: $9.75
Cash/Share: $16.6

*The author does not have positions in any of the companies mentioned. This is neither a recommendation to buy or sell any securities. All information provided believed to be reliable and presented for information purposes only. The author will not trade any of the securities mentioned (buy, sell, short) for at least two weeks
following the date of this post.

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