Bram de Haas
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Bram de Haas in Special Situation Investing News,

Ballantyne Strong Offers 23% Upside From Activist Cost-Cutting, Buybacks Coming Up


  • Ballantyne Strong has attracted the attention of activist investors.
  • These have taken over the board and implemented a cost cutting program.
  • Assuming no growth there is room for 23% upside before taking further measures into account.
  • The company has a suboptimal balance sheet with lots of room for buybacks or strategic tuck-in acquisitions to grow the Managed Services segment.

I have written favorably about Ballantyne Strong (NYSEMKT:BTN) in both 2013 and 2014. The stock basically went nowhere. To be more precise it went down by -5.91% while the S&P 500 returned 8.51% over the same time period.