Constar International Holdings Chapter 11 Petition Filed
Privately-held Constar International Holdings and nine affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 13-13281. The Company, which manufactures plastic containers, is represented by Robert S. Brady of Young, Conaway, Stargatt & Taylor. According to documents filed with the Court, “…the Board of Managers has been presented with a proposed definitive agreement to sell substantially all of the Company’s assets to a third party purchaser in accordance with the Bankruptcy Code.” This is Constar International’s third bankruptcy, and the Company emerged from its previous Chapter 11 filings on June 1, 2011 and June 2, 2009. Constar International Holdings indicates total assets of $50 to 100 million on its most recent Chapter 11 petition.
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Boston Beer Company is the nation's largest craft beer company, with 2017 revenues of over $900 million. Since its days as a start-up in 1984, it has led the nation's growing taste for craft beers; and shareholders have enjoyed tasty returns along the way. So why is The Turnaround Letter--which focuses on out-of-favor companies undergoing major positive changes--even thinking about this ostensible "growth" company?
Harnessing Activists to Help Find Turnaround Stocks
Activist investors often produce attractive returns for their clients; and you can still use their influence to help your position as a turnaround investor in two ways: Buy a position in a stock with the expectation that an activist will soon follow or buy after an activist takes a stake.
While one of the many dozens of activist funds might find their way to selecting your particular stock, this approach is likely to be frustrating and unrewarding. A better approach is to buy after the activist makes their move. Once an activist takes a stake in a company, how do you evaluate whether it is worthwhile to follow on? Admittedly, this is a bit of an art... Learn how you can harness the power of activist investors to find market-beating turnaround stocks.
Turnaround Letter Stock Pick Named Top Performer of 2017
What Last Year's Top Stock Pickers Are Buying in 2018
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George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."
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