Stockpickr: Three Short-Squeeze Plays
Also, despite recently announced record earnings and a record dividend, the stock does trade at a lofty price-to-earnings ratio of 42. However, this P/E ratio does not take into account the value of Consolidated-Tomoka's land holdings, which could be substantial.
Recently, Wintergreen Advisers, which owns roughly 16% of the company and is actively involved with management, bought another $2 million or so of Consolidated-Tomoka stock at prices ranging from $78.97 to $79.99. Wintergreen has been steadily increasing its shares over the past year.
Additionally, one of my favorite activist funds, Barington Capital, owns the stock. Consolidated-Tomoka was also mentioned in a recent Barron's article that prompted a new portfolio on Stockpickr called Insider Buying: Eating Their Own Cooking, in which Consolidated-Tomoka is listed.
Another stock that jumped recently on fears of a short squeeze is Scientific Games (SGMS), which makes over 20 billion tickets a year for instant lottery games.Ron Perelman recently bought about $124 million worth of Scientific Games shares for roughly $31 a share. Analysts expect the company's earnings to climb from 95 cents a share in 2006 to $1.31 in 2007. Scientific Games currently trades at an enterprise value-over-EBITDA ratio of just 14. To see the full list of potential short-squeeze candidates, check out the 10 Short Squeezes portfolio on Stockpickr. You can keep track of updates to this portfolio by rating the portfolio with four stars. By doing so, you will be notified via email whenever the portfolio is updated.
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