We have provided information on PMT, one of the country's most significant purchasers of ISO portfolios, in past issues of The Green Sheet. We last reported on PMT stock in January 1997, the value of PMT stock has changed significantly over the last year, while PMT has continued to make a number of additional acquisitions.
In January of last year we reported that PMT stock had been trading at $16.00, with a 52 week high of $29.62 and low of $10.12. One year later the stock is trading at $13.44, with a 52 week high of $19.63 and low of $10.00 We note that according to Morningstar the earnings per share over the last few years has been:
1996 1995 1994 1993
76.5 -15.0 66.7 140.0
In reviewing the information on PMT we noted that the Yahoo Finance site had an on-line message posted that was quite interesting. That message for PMT was as follows:
Subj.: Can PMT management consolidate corporate cultures
By: GRephJr
Date: Dec 5 1997 11:07 A.M PST
Reply To: Msg. 1 by YahooFinance
PMT has put together dozens of companies into one with no real technical platform for true scale consolidation. Profit increases can come with better organization, scale, and technology. I believe the costs to do this are heavy.
I believe PMTS will be purchased by a much larger company that can provide these technical, administrative, and scale/price advantages. Current management is not qualified to do this and they know it. So does any potential buyer. This might be reflected in a discount to purchase PMTS. Hopefully not like Snapple (Quaker Oats). PMTS is a steal below $12 a share...and we might see that price in the next few weeks. Get ready to buy.....watch the volume....it always gives away the direction of the stock!
For the most current information on PMTS stock click here.
