Pat: I have shares of Senvest Capital Investments. It seems to have taken a nosedive lately. I would like your evaluation as to whether the manager(s) can eventually regain their losses. Thanks.
Senvest Capital Investments, $67, symbol SEC on Toronto (Shares outstanding: 2.8 million; Market cap: $187.6 million; www.senvest.com), manages a portfolio of equity and real estate investments.
The company mainly invests in publicly traded and privately held companies through Senvest International. It carries out its real estate investments through Pennsylvania Properties Inc., Senvest Argentina and Senvest Equities.
Senvest’s holdings include a lot of small- and mid-cap companies that are mainly located in the U.S.
Senvest takes on a lot of risk with some of its holdings. For example, it lost $107.7 million, or $34.92 a share, in the latest quarter. The loss came from a writedown of its holdings in common and preferred shares of Royal Bank of Scotland, which was one of Senvest’s main holdings.
Royal Bank of Scotland has stopped making dividend payments on its Preferred Series T shares for the last two years after a European Union competition ruling. As a global bank with exposure to European credit,…
Privacy Policy and Terms of Use
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