As a shareholder, The Premier Exhibitions (PRXI) saga has been downright painful at times. It's been the ultimate value investor's dilemma- arguably valuable assets (Titanic artifacts and intellectual property) whose value has yet to be unlocked. The company has done a poor job in managing the situation-including in the communications arena-since the April 2012 Titanic asset auction failed. Quarter after quarter, the earnings calls have been unsatisfying, and shareholder frustrations have grown.
As a result, the company has attracted little attention in recent months, and the share price has languished.
Tuesday's shareholder call, however, shed some much-needed light on the company's future plans, and was a step in the right direction. (Link to the transcript below)
Now, Premier needs to execute.
*The author has a position in Premier Exhibitions. This is neither a recommendation to buy or sell any securities. All information provided believed to be reliable and presented for information purposes only