The Andersons, Inc. (NASDAQ:ANDE) [Trend Analysis] retains strong position in active trade, as shares scoring 23.63% to $32.07 in a active trade session, while looking at the shares volume, around 2.32 Million shares have changed hands in this session. Andersons (ANDE) rejected two non-binding, ‘highly conditional’, unsolicited proposals from HC2 Holdings (HCHC). On January 29, 2016, The Andersons received a private, unsolicited proposal from HC2 to acquire the Company for $35 per share in cash. A subsequent proposal was submitted on March 22, 2016 for $37 per share in cash.
The Andersons’ Board of Directors, after careful review in consultation with its independent financial and legal advisors, unanimously determined that both of HC2’s proposals undervalue The Andersons and are not in the best interests of the Company or its shareholders and other stakeholders. The Company also noted that HC2’s letter dated May 17, 2016 contained numerous inaccuracies and misleading statements. Among others, HC2’s claim that The Andersons did not substantively respond to its $37 per share offer is patently false. The firm has institutional ownership of 76.10%, while insider ownership included 4.30%. ANDE attains analyst recommendation of 2.60 with week’s performance of 18.43%. Investors looking further ahead will note that the Price to next year’s EPS is 219.78%.
Nxt-ID, Inc. (NASDAQ:NXTD) [Trend Analysis] knocking active thrust in leading trading session, shares an increase of 18.48% to 0.39 with around 6.05 Million shares have changed hands in this session. Nxt-ID (NXTD) entered into purchase agreement to acquire 100% membership interests in LogicMark for $20 million cash. The firm announces it has entered into an interest purchase agreement to acquire 100% of the membership interests of LogicMark, LLC, a provider of unmonitored personal emergency response devices (PERS), for $20 million in cash, with an anticipated closing date no later than June 30.
The financing for the acquisition will be a combination of senior secured debt and equity. The audited financial statements for LogicMark for the year ended December 31, 2015 showed revenues of $11.1 million and pre-tax net income of $3.1 million. The Company has a staff of 22 full-time professionals, 3 part-time professionals, and 5 contractors. The stock is going forward its fifty-two week low with 144.44% and lagging behind from its 52-week high price with -87.34%.
Likewise the positive performance for the quarter recorded as -21.80% and for the year was -83.91%, while the YTD performance remained at 62.96%. NXTD has Average True Range for 14 days of 0.06.
Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) [Trend Analysis] swings enthusiastically in regular trading session, it an increase of remains unchanged to close at $3.89. Sirius XM Radio (SIRI) subsidiary aims to offer $750 million senior notes due 2026 to qualified institutional buyers pursuant to Rule 144A. The firm intends to use a portion of the net proceeds from the offering to repay all borrowings outstanding under its revolving credit facility.
The firm intends to use the remaining net proceeds from the offering for general corporate purposes, which may include the repayment, repurchase, redemption, defeasance or tender of its outstanding indebtedness, including any future borrowings outstanding under its revolving credit facility, dividends or loans to SiriusXM, its parent corporation, to fund share repurchases of SiriusXM common stock and the payment of the cash consideration for, and fees related to, SiriusXM’s previously announced recapitalization of Sirius XM Canada Holdings. SIRI experts calculate Return on Investment of 15.10%. The stock is going forward its fifty-two week low with 18.24% and lagging behind from its 52-week high price with -7.38%. SIRI last month stock price volatility remained 1.55%.