180 Degree Capital Corp. Notes Preliminary Net Asset Value Per Share of $4.40 as of September 30, 2024, and Expects to Report Full Third Quarter Financial Results and Host a Conference Call During the Week of November 11, 2024
180 Degree Capital Corp. (NASDAQ:TURN) announced its preliminary net asset value per share (NAV) of $4.40 as of September 30, 2024. The company plans to report full Q3 2024 results and host a conference call during the week of November 11, 2024. Management expressed concern about the current share price not reflecting the company's NAV or long-term growth prospects. The company has increased its activism and involvement with portfolio companies to drive value creation, implementing a Discount Management Program and other strategic efforts to enhance shareholder value.
180 Degree Capital Corp. (NASDAQ:TURN) ha annunciato il suo valore patrimoniale netto preliminare per azione (NAV) di $4.40 al 30 settembre 2024. L'azienda prevede di riportare i risultati complessivi del terzo trimestre 2024 e di ospitare una conference call durante la settimana dell'11 novembre 2024. La direzione ha espresso preoccupazione riguardo al fatto che il prezzo attuale delle azioni non rifletta il NAV dell'azienda o le prospettive di crescita a lungo termine. L'azienda ha aumentato il proprio attivismo e coinvolgimento con le società in portafoglio per generare valore, implementando un Programma di Gestione degli Sconti e altre iniziative strategiche per aumentare il valore per gli azionisti.
180 Degree Capital Corp. (NASDAQ:TURN) anunció su valor neto de activos preliminar por acción (NAV) de $4.40 a fecha del 30 de septiembre de 2024. La compañía planea informar los resultados completos del tercer trimestre de 2024 y realizar una conferencia telefónica durante la semana del 11 de noviembre de 2024. La dirección expresó su preocupación por el hecho de que el precio actual de las acciones no refleja el NAV de la compañía ni sus perspectivas de crecimiento a largo plazo. La empresa ha incrementado su activismo y participación con las compañías de su cartera para impulsar la creación de valor, implementando un Programa de Gestión de Descuentos y otros esfuerzos estratégicos para mejorar el valor para los accionistas.
180 Degree Capital Corp. (NASDAQ:TURN)는 2024년 9월 30일 기준으로 주당 $4.40의 사전 순자산 가치(NAV)를 발표했습니다. 이 회사는 2024년 3분기 전체 실적을 보고하고 2024년 11월 11일 주간에 컨퍼런스 콜을 개최할 계획입니다. 경영진은 현재 주가가 회사의 NAV나 장기 성장 가능성을 반영하지 않고 있다는 우려를 표명했습니다. 이 회사는 가치 창출을 위해 포트폴리오 회사들과의 활동과 참여를 강화하고 있으며, 할인 관리 프로그램과 주주 가치를 증대하기 위한 기타 전략적 노력을 시행하고 있습니다.
180 Degree Capital Corp. (NASDAQ:TURN) a annoncé sa valeur nette d'actif préliminaire par action (NAV) de $4.40 au 30 septembre 2024. L'entreprise prévoit de publier les résultats complets du troisième trimestre 2024 et d'organiser une conférence téléphonique pendant la semaine du 11 novembre 2024. La direction a exprimé des préoccupations quant au fait que le prix actuel de l'action ne reflète pas le NAV de l'entreprise ni les perspectives de croissance à long terme. L'entreprise a intensifié son activisme et son implication avec les sociétés de son portefeuille pour générer de la valeur, en mettant en œuvre un Programme de Gestion des Remises et d'autres efforts stratégiques pour accroître la valeur pour les actionnaires.
180 Degree Capital Corp. (NASDAQ:TURN) gab bekannt, dass der vorläufige Nettoinventarwert pro Aktie (NAV) am 30. September 2024 $4.40 beträgt. Das Unternehmen plant, die vollständigen Q3 2024-Ergebnisse zu berichten und während der Woche vom 11. November 2024 eine Telefonkonferenz abzuhalten. Das Management äußerte Bedenken, dass der aktuelle Aktienkurs den NAV des Unternehmens oder die langfristigen Wachstumsperspektiven nicht widerspiegelt. Das Unternehmen hat sein Aktivismus und Engagement bei den Portfoliounternehmen erhöht, um die Wertschöpfung zu fördern, und setzt ein Rabattmanagement-Programm sowie andere strategische Maßnahmen zur Steigerung des Shareholder-Value um.
- Company implementing active value creation strategies through increased portfolio company activism
- Management executing Discount Management Program to address share price concerns
- Management acknowledges underperformance of stock price
- Trading restrictions due to activism efforts may limit liquidity
- Current share price trading below NAV
Insights
The preliminary NAV of
The management's acknowledgment of poor stock performance and implementation of a Discount Management Program shows awareness of shareholder concerns. Yet, without concrete details about their activist positions or specific value creation initiatives, investors face uncertainty about the timeline and probability of NAV improvement. The significant discount to NAV could present an opportunity, but the small market cap of
MONTCLAIR, N.J., Oct. 24, 2024 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180 Degree Capital”) noted today that it expects to report a net asset value per share (NAV) of
“While we look forward to issuing our full results for Q3 2024 in a few weeks, we thought it was important to provide a preliminary view to our NAV as of the end of Q3 2024,” said Kevin M. Rendino, Chief Executive Officer of 180 Degree Capital. “Our view is that 180 Degree Capital’s current share price does not reflect the value we believe we have based on our current NAV, nor any relevance to what we believe to be our long-term growth prospects. It is for this reason we have also increased our activism and involvement with our portfolio companies to help drive value creation for all stakeholders. This process and value creation does not happen overnight, and our stepped-up activism within these holdings began in earnest less than a year ago. We continue to believe these efforts will lead to material increases in 180 Degree Capital’s NAV in the ensuing quarters and years.”
“To be clear, we are not pleased with the performance of 180 Degree Capital’s stock,” added Daniel B. Wolfe, President of 180 Degree Capital. “We are laser focused on taking steps that we believe will lead to creation of value for shareholders. While our activism in certain holdings can lead to restrictions on trading, it allows us to work with management teams to drive outcomes. As Kevin said, these outcomes do not happen overnight. To investors without such access to information, it can look like management teams and boards are not taking such issues seriously, nor driving for value creation with any sense of urgency. We can confidently state these perceptions are misplaced and incorrect, both here at 180 Degree Capital and at our portfolio companies where we are working constructively with management and boards of directors. At 180 Degree Capital, we are driving such value creation through growth of net assets, our previously announced Discount Management Program, and/or through other strategic efforts. We look forward to providing further updates on these efforts as we are able to do so.”
About 180 Degree Capital Corp.
180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 and its holdings can be found on its website at www.180degreecapital.com.
Press Contact:
Daniel B. Wolfe
Robert E. Bigelow
180 Degree Capital Corp.
973-746-4500
ir@180degreecapital.com
Mo Shafroth
RF Binder
Morrison.shafroth@rfbinder.com
Forward-Looking Statements
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's securities filings filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference and link to the website www.180degreecapital.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. 180 is not responsible for the contents of third-party websites.
FAQ
What is 180 Degree Capital's (TURN) net asset value per share as of September 30, 2024?
When will 180 Degree Capital (TURN) report its Q3 2024 financial results?
What steps is 180 Degree Capital (TURN) taking to improve shareholder value?
