Q: Hi 5i,
in regards to SVI.TO:
In your opinion does the executive team have much skin in the game (ie ownership)? It looks like there has been some buying in the last year.
In your opinion what would be a very attractive buy price?
In your opinion do you think this stock might experience more pressure because of tax loss selling later this year?
in regards to SVI.TO:
In your opinion does the executive team have much skin in the game (ie ownership)? It looks like there has been some buying in the last year.
In your opinion what would be a very attractive buy price?
In your opinion do you think this stock might experience more pressure because of tax loss selling later this year?
5i Research Answer:
There has been some decent insider buying in August, about 200,000 shares (net), not including filings of the company's ongoing share buyback. Insiders own ~2%. Access Self Storage owns 38% through two entities. It is very hard to 'predict' tax loss selling, but typically smaller companies do get hit somewhat into year end. It is down 24% YTD and more if one looks at its 2022 high. We think $4.15 to $.25 would be more atttractive. Debt is very high, and this is probably worrying investors. But it has executed its acquisition plan pretty well, so far, and we think the sector outlook remains solid.