The company is engaged in the business of purchasing, managing for its own account and servicing distressed consumer receivables, including charged-off receivables, semi-performing receivables and performing receivables. Wouldn't you go long debt collectors in a bad economy? Especially a cheap one? This stock is trading at less than book with a single digit P/E, P/S, and P/(F)CF. It's been decimated in the last year and is trading near its 52-week low. Low float. Only two analyts follow the stock.
The CEO's family just advanced the company money in order ot help it pay down it's revolving line of credit, so management is definitely committed. This is bottom fishing, so be prepared for wild swings before things get better.
$9.56 (05/12/08)
