180 Degree Capital Corp Stock Price, News & Analysis

180 Degree Capital Corp. (NASDAQ:TURN) reported a Net Asset Value Per Share of $4.40 as of September 30, 2024. The company's Q3 2024 performance showed mixed results with public portfolio gross total return of -0.4% for the quarter and -6.3% YTD. The NAV declined -2.2% in Q3 and -12.4% YTD, while the stock price decreased -11.0% and -17.7% respectively. Despite challenging conditions in small and microcapitalization stocks, management expressed optimism about market opportunities, citing historically low valuations and positive reports from major holdings during the earnings cycle.

180 Degree Capital Corp (NASDAQ: TURN) reported an average discount of approximately 20% between its estimated daily net asset value per share and stock price during October 2024 and year-to-date through October. The company's Board is evaluating this discount under its Discount Management Program, with two measurement periods: Jan-Dec 2024 and Jan-Jun 2025. If the average daily discount exceeds 12%, the Board will consider options including expanding its $5 million stock buyback program, cash distributions, tender offers, or other strategic alternatives.

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) reported an average discount of approximately 21% between its estimated daily net asset value per share (NAV) and its daily closing stock price in September 2024. The year-to-date average discount through September 2024 was about 20%, with a 24% discount on September 30, 2024. The company's Board of Directors is evaluating options under its Discount Management Program, which could include expanding the stock buyback program, cash distributions, or a tender offer if the average daily discount exceeds 12% during specified measurement periods.

CEO Kevin M. Rendino noted a potential shift in sentiment towards small-cap stocks, partly due to the Fed's interest rate reduction. The company believes the current discount to NAV doesn't reflect the potential upside of its portfolio. President Daniel B. Wolfe emphasized that no decisions have been made regarding ending the first measurement period early or taking specific actions, and the Board will prioritize the interests of all shareholders in any decisions made.

180 Degree Capital Corp. (NASDAQ: TURN) reported an average discount of 21% between its estimated daily net asset value per share (NAV) and daily closing stock price in August 2024, with a year-to-date average of 19%. The company's Board of Directors is evaluating this discount as part of its Discount Management Program, which could lead to actions such as expanding the stock buyback program, cash distributions, or a tender offer if the average daily discount exceeds 12% during specified measurement periods.

CEO Kevin M. Rendino emphasized that long-term investors support the company's belief in the potential upside of its current portfolio, despite the recent bear market for small-cap stocks. The company aims to balance addressing the trading discount with preserving long-term value creation potential.

180 Degree Capital Corp. (NASDAQ:TURN) reported its financial results for Q2 2024, with a Net Asset Value Per Share (NAV) of $4.50 as of June 30, 2024. The company experienced a decline in NAV of 12.8% for the quarter and a 10.4% decrease year-to-date. CEO Kevin M. Rendino acknowledged the impact of market turmoil on their portfolio, particularly affecting small and microcapitalization stocks. Despite the challenges, the company remains optimistic about future opportunities and has positioned itself to take advantage of potential catalysts in the second half of 2024 or early 2025.

The company's public portfolio saw a gross total return of -10.2% for Q2 2024. 180 Degree Capital continues to focus on constructive activism to help unlock value in its investments. A conference call is scheduled for August 20, 2024, to discuss Q2 2024 results and recent developments.

180 Degree Capital Corp. (NASDAQ: TURN) has announced it will release its second quarter 2024 financial results on Monday, August 19, 2024, after market close. The company will host a conference call on Tuesday, August 20, 2024, at 9am Eastern Time to discuss these results and provide updates for Q3 2024. Kevin M. Rendino, CEO, and Daniel B. Wolfe, President, will lead the call. Rendino expressed excitement about returning to work and thanked the board for their leadership during his absence. The company has provided dial-in information and a webcast link for shareholders to join the call. Presentation materials and a replay of the meeting will be available on the company's investor relations website.

180 Degree Capital Corp. (NASDAQ:TURN) has reached a cooperation agreement with Lantronix, Inc. (LTRX) to nominate Narbeh Derhacobian and Kevin Palatnik as directors at LTRX's upcoming 2024 Annual Meeting of Stockholders. 180 Degree Capital, a long-time investor in LTRX, views this as a constructive outcome of their engagement with LTRX's management and board. The company believes LTRX is undervalued and sees similarities with their previous portfolio company, Adesto Technologies. 180 Degree Capital expects the nominees to bring valuable experience that can help build substantial value for all LTRX stakeholders. LTRX's CEO, Saleel Awsare, expressed appreciation for the collaborative relationship with 180 Degree Capital and the potential of the new nominees to help grow shareholder value.

180 Degree Capital Corp. (NASDAQ: TURN) reported an average discount of approximately 20% between its estimated daily net asset value per share (NAV) and daily closing stock price for July 2024. The year-to-date average discount through July 2024 was about 19%, with the discount reaching 24% on July 31, 2024. These figures are part of the company's Discount Management Program, which includes two measurement periods: January 1, 2024 to December 31, 2024, and January 1, 2025 to June 30, 2025. If TURN's common stock trades at an average daily discount to NAV of more than 12% during either period, the Board will consider various options, including expanding the current $5 million stock buyback program, cash distributions, or a tender offer.