Post-Bankruptcy Stocks

Stocks of public companies that have recently emerged from bankruptcy

ARTICLES

Midstates Petroleum: 4Q17 Results In-Line, Future Remains Strong

Small-cap oil and gas producer Midstates Petroleum (NYSE: MPO) reported in-line 4Q17 results. It is making incremental progress with its turnaround following its emergence from bankruptcy last October. Merger discussions with Sandridge are on-going. We continue to rate MPO shares a Buy up to 30.
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Midstates Petroleum Proposes to Buy SandRidge Energy

Freshly-recommended small cap energy producer Midstates Petroleum (NYSE: MPO) announced that it has sent a letter to the board chairman of SandRidge Energy offering to merge/acquire the company. No offer has been accepted, although a deal seems possible as it would provide large SandRidge shareholder Carl Icahn (13.5% stake), a vocal opponent of SandRidge's management and board, an attractive end-game.
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Like all small-caps, this stock carries significant risks.

Purchase Recommendation - February 2018

This oil & gas stock pick checks many of our turnaround candidate boxes. First, it recently emerged from bankruptcy, which usually brings a discounted price but also a fresh start. Additionally, the company is led by a new CEO. Importantly, the Company has maintained its strong post-exit balance sheet and its immediate plan is to increase its strategic options by boosting free cash flow and financial strength. 
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Top Five Turnaround Stocks for 2018 e-Report Includes Post-Bankruptcy Stock Opportunity

Although George hates to choose favorites among his stock picks, this free e-report details The Turnaround Letter's "Top Five Turnaround Stocks for 2018"--including a diverse selection of value stock opportunities poised for a rebound. This is the perfect tool to grow your turnaround investing portfolio and lock in stock profit in a potentially declining market.
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The large number of companies emerging from Chapter 11 has created post-reorganization stock opportunities.

2017 Bankruptcy Review

Looking ahead, we expect corporate bankruptcy activity to remain at a high level for at least the next few years. Much of the unprecedented amount of debt that has been raised during the exuberant markets since 2009 comes due soon. If we are correct and the pace of defaults pick up, this will create a wealth of opportunities for distressed debt investors.
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The large number of companies emerging from Chapter 11 has created post-reorganization stock opportunities. 

2017 Bankruptcy Review

Looking ahead, we expect corporate bankruptcy activity to remain at a high level for at least the next few years. Much of the unprecedented amount of debt that has been raised during the exuberant markets since 2009 comes due soon. If we are correct and the pace of defaults pick up, this will create a wealth of opportunities for distressed debt investors. 
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We think this value stock’s future is bright.

Purchase Recommendation - September 2017

This mid-cap post-bankruptcy stock’s outlook is much more favorable than the market’s view. The company is now solidly profitable; and its new leadership team and board of directors is focusing on reducing its already low cost structure, improving its mine quality, repaying debt and returning capital to shareholders. As an added bonus, its regulatory burden is unlikely to increase under the Trump administration, and management is working to present a considerably more environmentally-friendly face to the public.
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Mid-Year Bankruptcy Review & Outlook

Excerpted from the August 2017 Issue
Even though energy bankruptcies are on the decline, we believe there will continue to be good opportunities for distressed/turnaround investors in that sector for some time.
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DOCUMENTS AND FILES

Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Turnaround Investing Philosophy: 32 Years Later, Some Things Never Change

Recently I was asked how my investing perspective changed over the 32 years of publishing The Turnaround Letter. It's a fascinating question because change is constant, and often beneficial (although that's not a given) in the business world. If change is the norm, can investing principles stay constant? I firmly believe that they can. Read More.

EV/EBITDA: What Is It & Why Are We Using It More?

In reading recent editions of The Turnaround Letter, you have probably noticed that we are increasingly using EV/EBITDA as a valuation measure, rather than the better-known price/earnings multiple.  We thought it might be useful to describe this measure and why we like it.

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Turnaround Letter Stock Pick Named Top Performer of 2017

 

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What Last Year's Top Stock Pickers Are Buying in 2018

 

This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.

 

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."