Diana Containerships - Surprise Share Buyback Announcement Sparks Another Momentum Rally [Seeking Alpha]
DIANA CONTAINERSHIPS (DCIX)
Last diana containerships earnings: 7/25 07:30 am
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US:NASDAQ Investor Relations:
dcontainerships.com/investors
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Source: Seeking Alpha
Diana Containerships - Surprise Share Buyback Announcement Sparks Another Momentum Rally Summary Company makes surprise share buyback announcement. If fully executed, outstanding shares could be reduced materially, substantially increasing net asset value per share. Expect another momentum-driven rally. Announcement is a clear sign that the Kalani agreement will not be extended beyond the expiration date in late March. On the flipside, the anticipated momentum rally effectively provides Kalani with an opportunity to reaccelerate the pace of dilution. Even after the strong late session move, discount to net asset value still calculates to 75% but investors should keep in mind that valuations of shipping stocks have been knocked down across the board in recent months. Note: I have covered Diana Containerships (NASDAQ: DCIX earlier articles on the company. Small, Greek-based container shipping company Diana Containerships' stock has performed poorly after the company reported Q3 results
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