Cheap Stocks 26 Net/Net Index component Adams Golf (ADGO) has had quite a run lately. It is the second best performer in our net/net index, and is up nearly 70% since index inception (9/13/2011).
There's been some activist activity in the name recently, which has no doubt been helping to move the stock higher. When CS 26 was launched back in September, ADGF was a $42 million market cap company trading at .99 times net current asset value (NCAV); it now has a $72 million market capn and trades at 1.68 times NCAV.
Adams Golf (ADGO)
Market Cap: $71.9 million
NCAV: $42.8 million
Total Debt: 0
Tangible Book Value/share: $7.16
Yesterday, CEO Chip Brewer, who has been with Adams for 13 years, resigned. Taking the reigns on an interim basis will be company founder, and Chairman of the Board Barney Adams. Today, the company is scheduled to report fourth quarter earnings. Certainly an interesting week for Adams Golf
*The author has no position in 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.