Q: Are the flat earnings and revenue meaningful for this company? Or is there something I am missing here that make this one more attractive? Thx.
5i Research Answer:
As an investment holding company, PNP's earnings vary widely depending on whether it monetizes any investments, or not. Growth in book value and assets is likely a more important metric, and both rose nicely this past quarter. Book value rose to $9.24 from $8.28 at year end. Assets to $88M from $78M. The stock has settled in from its May price spike and does look much more interesting today.