7/21/2010

Value for under a dollar: TIXC

Tix Corporation is an entertainment related company focusing on ticketing services, event merchandising, and the production and promotion of live entertainment.


Not the best industry in this uncertain economy but they have the financial strength to weather the economic storm and restructure if needed.

Current price is .91 on July 21 with an enterprise value of .89. Per share cash + AR – Total Liabilities = .22

So at least they have a reasonable financial condition. The price to sales ratio for the TTM is .40 and is selling at a large discount to prior years P/S ratio. Price to cash flow and price to book are also selling at significant discounts to prior years.



The stock has dropped 64.50% over the prior 52 weeks. The financial performance and company improvements do not support the drastically reduced stock price, in my opinion.

FCF over the prior 3 years as a percentage of the current enterprise value is 21%. Current FCF/EV is 22.47%. Insiders own 41% of the company.

I purchased shares today.

TIXC Quote

4 comments:

Anonymous said...

Hi, first I wanted to say I love your blog thanks for doing such a great job. Second have you looked at PRWT and if so what are your thoughts??

Anonymous said...

Hi, first I wanted to say I love your blog thanks for doing such a great job. Second have you looked at PRWT and if so what are your thoughts??

Anonymous said...

Premierwest Bancorp (PRWT) looks like bad news.

--->8+% of all assets are non-performing (NPA).
--->Loss allowance is only $46.5M while NPAs are 125.9M and 65% of all loans are in Commercial Real Estate and Construction.

I am often a contrarian, but, this one is probably worth nothing, seriously.

ShadowStock said...

Thanks for reading the blog!!

John