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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Emblaze LD (DI) | BLZ | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 31.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 31.00 |
| Top Posts |
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Posted at 17/8/2014 09:13 by colinhy 16 August 2014Summary Israeli Willi-Food is a ridiculously cheap food company trading at 4.5x EV/EBIT and 0.9x P/B despite consistent profitability. At $7.3, the shares trade at a small discount to the company's net-net value, including non-current liabilities. A rare sight for such a profitable company. The company has no debt and $63 million in cash, constituting nearly 70% of the company's market capitalization. A recent buyout of the ageing management has been carried out at multiple times the company's current market value. In this article, I will introduce the reader to a very interesting little Israeli company called G. Willi-Food International Ltd. (NASDAQ:WILC) - from hereon referred to as "WF". I have followed the company for a long time and now I think it is time to publish my thoughts about this company. There has been a couple of interesting articles regarding WF on SA before, but I hope that this article can bring some new insight on this case as well. WF is a compelling investment opportunity for the patient and long-term investor. The company has a minor presence in the US and in Europe, thus one must hope that they find a worthy acquisition for their international expansion, since too much cash can be a bad thing as well. In the webcast for Q4 2013, the management strongly hinted that the company would find a takeover candidate in 2014. It is also of chief importance that the partnership with Granovsky evolves smoothly and that he can help WF to expand its business. Perhaps he is considering to buy the whole company? Who knows. Moreover, there seems to be a considerable margin of safety regarding the worth of their assets and the low price of their operations. The cheap valuation can be caused by the fact that it is a small unknown Israeli company, it is not investment potential for most institutions or perhaps most people see it as a little risky stock in an emerging market. However, the upside potential seems to far outweigh the downside risk at current levels. A particularly interesting deal has taken place in 2013 which further indicates that WF is a bargain at its current price. The company is, as mentioned before, run by the two Jewish brothers, Zwi and Joseph Willinger. The brothers own together 58% of Willi-Food Investments Ltd. - a holding company listed on the stock exchange in Tel-Aviv. This holding company owns 58% of WF. WF seems to be the only cash generating unit within Willi-Food Investments Ltd. In the beginning of March this year, the brothers chose to sell their 58% share in Willi-Food Investments Ltd. to another holding company called Emblaze Ltd. Emblaze is run by the Ukrainian billionaire Alexander Granovsky, who the Willinger brothers know very well. Granovsky is known to be an international business man in contrast to the two brothers, and the primary reason why the brothers chose to sell was probably that they saw WF's international adventure in better hands with Granovsky, who has shown a strong interest in the Israeli food industry. Zwi announced in the company's webcast for Q4 2013 that Granovsky had presented the brothers with 3 possible takeover candidates on the US market. However, they have not published any further news regarding a possible acquisition in 2014. |
Posted at 14/8/2014 18:41 by hedgehog 100 waterloo01 12 Aug'14 - 12:12 - 37028 of 37040 0 0"Does Tempus mention it's sitting on it's market cap in cash? Probably not. All depends on what they buy next (but have stated will be revenue earning and profitable) and some buying (which has been completely absent)." Waterloo, It did state the cash, but not the market cap. (which ADVFN shows as £34.1 million at 31p). From "THE TIMES", Tuesday August 12 2014, in full (by Nic Fildes, Tempus): "EMBLAZE Revenue $28,000 Cash $15.2m Geo Interactive Media was arguably the biggest beneficiary of the tech boom in Britain. The AIM-quoted Israeli video streaming specialist was the fastest growing stock in London in 1999 when the shares shot up from 22p to £35 on the hope that people would be looking at their phones, not listening to them, in the future. The vision was spot on but things went badly awry and its value crashed. It adopted the name Emblaze to turn over a new leaf. Once again the company's vision was correct after it launched phones that included a digital camera, a music player and a video recorder way back in 2002. However, it has been downhill ever since and the stock now struggles around the 31p mark. Some investors held on to see if Emblaze could win a huge video streaming patent complaint against Apple, which could have yielded $577 million in damages. A jury, however, ruled against it last month. Bizarrely, Emblaze, now little more than a cash shell, engineered a reverse takeover of a kosher food company Willi-Food this year. What a pickle for investors. No wonder Emblaze has once again attempted to engineer an identity change after announcing it will be known as BSD Crown. MY ADVICE Sell WHY Name change won't paper over the cracks" Please note the following thread which may be of interest: THE REVERSE TAKEOVERS & SHELLS THREAD (RTO) |
Posted at 13/8/2014 08:48 by colinhy nasdaq.com August 12, 2014These stocks have analyst recommendations of "strong buy"-and they're undervalued We decided to run a screen focused on predictions. In the case of stocks, these tend to come in the form of analyst recommendations. Analysts extensively research companies and industries in order to gain a reasonable idea of a company's potential trajectory. This is why many investors value their input in the first place. To begin, we screened for stocks with an average analyst recommendation of "strong buy." This means that the stocks have been given a rating of 1 or greater but still less than 2. A "buy" means a stock's rating falls within the 2 range, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range. Since analysts make predictions for a stock's future earnings per share ( EPS ), we decided to screen for that too. Specifically, we screened for stocks with high EPS growth projections of 25% or greater for this year and next year. Finally, we narrowed down that group to our following list by screening for stocks that are undervalued with a price/earnings to growth ( PEG ) ratio equal to or less than 1 . We were left with four stocks on our list. Do you agree with the analyst recommendations for these stocks? Use this list as a starting point for your own analysis, and let us know what you think in the comments. 4 G. Willi Food-International Ltd. Engages in the development, manufacture, marketing, import, export, and distribution of various food products worldwide. Market cap at $96.13M, Analyst recommendation is 1. EPS is expected to grow by 33.30% this year and 54.10% next year. |
Posted at 06/8/2014 17:38 by waterloo01 I think we're in a closed period, so news on the next step/investment will have to wait. Regardless, trading at cash rather ignores the recent $80m investment for a controlling stake in WILC. Surely this is in true value investor range at these levels regardless of the history! |
Posted at 04/8/2014 12:54 by moneyman18 Looks like the typical stuff going on here.Small investors scared and rather feel the cash |
Posted at 31/5/2014 18:18 by colinhy seekingalpha.comMay. 29, 2014 G. Willi-Food: This $6 Food Stock Is A Bargain For Activist Investors Summary This stock is way too cheap after a disappointing earnings report. Investors appear to be overlooking a major cash horde and buyout potential. With a cash horde that is equivalent to about half the current share price, downside risks could be limited and the company could be a takeover target. A billionaire recently took a major stake in this company at a significant premium, and this could lead to a 100% takeover in the future. A spokesperson for the billionaire also made comments that indicate major expansion potential into the USA, which could increase revenues and profits. With the shares now at oversold levels, this stock appears due for a significant short-term rebound, but longer-term investors could see much more. G. Willi-Food International Ltd. (WILC) shares recently took a hit after reporting an earnings miss. However, this stock appears too cheap to ignore, and the recent pullback is giving investors a classic "buy low" opportunity. This company distributes its food products to over 2,000 customers, which includes wholesalers, supermarket chains, mini markets, restaurants and many others. Based in Israel, this company is one of the largest providers of Kosher foods, and it currently offers about 600 different products, which are distributed in Israel, the U.S. and Europe. These products range from pasta, dairy, specialty foods, canned goods, desserts and more. The food business is relatively recession-proof, and it is typically very stable in terms of cash flows. This stability is why many well-known food stocks trade for above-average market premiums. For example, The Hershey Company (HSY) and the Coca Cola Company (KO) are both trading for about 20 times earnings. Some specialty food companies like Annies's, Inc. (BNNY) are trading for about 35 times earnings. This company is trading for a mere fraction of that level. When you factor in a cash horde, this company is incredibly cheap, trading at just over three times earnings. This company has an incredibly strong balance sheet, which reduces potential risks for investors. It has roughly $43 million in cash and just around $5,000 in debt, which is nearly nothing. The cash on the balance sheet is equivalent to $3.30 on a per share basis. That means nearly half of the current share price is backed up by cold, hard cash. This indicates the stock is trading near bargain levels, and the discount to the $8.09 book value suggests the same. The huge amount of cash on the balance sheet and the lack of debt means that this company could be an attractive takeover target. It also means it is well-positioned for a management buyout or "going private" transaction. Either one of these options could become major upside catalysts, and it could very likely happen, especially with the stock trading at depressed levels. This stock was already cheap, but after a recent earnings miss, it is even more of a bargain. This company reported that first-quarter revenues rose by 4.9% to $27.2 million, as well as earnings of 16 cents per share, which missed analyst estimates of 22 cents per share. While this was a miss, investors seem to be temporarily overlooking the fact that this stock is still a bargain. Analysts expect this company to earn 79 cents per share in 2014 and $1 per share for 2015. This means the stock is trading for just about 6.5 times forward earnings. When you back out the cash on the balance sheet of about $3.30 per share, this stock is only trading for just over 3 times earnings! After a recent pullback, this stock is oversold and likely to rebound in the short term. The chart above shows that the Relative Strength Index, or "RSI", is now at just 28. That is clearly into oversold levels, and that means it could be due for a major rebound very soon. I strongly believe in the strategy of buying cheap stocks that reach oversold levels due to an earnings miss. I recently wrote about another stock that was a bargain and also oversold after an earnings miss. It subsequently rose from about $7.70 per share to $8.50 within days, which scored gains of about 10% for investors who bought in for short-term gains. As for the longer term, this stock could jump much more, especially if earnings improve. However, the biggest single catalyst could be a takeover situation, a management buyout or a go-private transaction, which, as suggested by another contributor in a Seeking Alpha article, could result in a potential 100% gain in the share price. As yet another Seeking Alpha article reported a few weeks ago, a major deal was reached, whereby two founders of this company will sell their 58% stake to a company called Emblaze (OTC:BLZSF) for about $10.15 per share. The article states: "Beneath the surface, investors will see that Emblaze Ltd. is controlled by Ukrainian businessman Alexander Granovsky, a reported billionaire with experience in food investments, who purchased a controlling stake in Emblaze last year." With a billionaire taking a major stake in G. Willi-Food and at a significant premium, investors selling right now are probably making a huge mistake. This billionaire could be planning to buy the rest of the company next. Furthermore, if he plans to significantly expand sales into the United States, revenues and profits could rise substantially and take the share price much higher. A spokesperson for the billionaire was quoted in an article stating: "We looked for investments in companies that have human capital and growth engines in Israel and abroad. It's not easy to find such deals, but we identified Willi-Food as a company that meets those conditions," said Yossi Schneorson, CEO of BGI and Granovsky's representative in Israel. "We think Willi-Food has the potential to expand in the United States." Aside from major expansion potential into the USA, this company could also see growth from a number of new products. G. Willi-Food often adds new food products that could increase revenues and profits. For many companies, natural or organic foods are a major growth category. This company recently announced that it is entering the soft drink market with the launch of the "Green Cola" brand, which is a carbonated soft drink that is naturally sweetened by stevia plants. Green Cola is already selling well in other countries, probably because of the flavor and the fact that it has no preservatives and only two calories. The potential downside risks could include some type of geopolitical issue in Israel, since a major part of its revenues are derived from that country. However, people need food, so this would probably be one of the least-affected companies in the event of something like that. Furthermore, this risk might be minimized in the future as it expands sales into the USA and other countries. With the price-to-earnings ratio at very low, bargain-like levels, and with a cash horde and nearly zero debt, the potential downside risks from these levels seem quite limited. With that being said, the potential upside is creating an excellent risk-to-reward ratio, especially as a buyout or go-private transaction (which is increasingly likely due to the cash horde) could provide gains of up to 100% or possibly more from currently depressed levels. Even without a buyout, this stock could be poised for major upside. One analyst has a $10 price target, and that implies significant upside from current levels. As the selling pressure from investors who were disappointed with the earnings report fades, I expect this stock to mount a strong comeback in the short term to about the $7-$7.25 level. That will give investors who buy now solid gains, but those who hold for the long term could get much more. Here are some key points for G. Willi-Food International: Current share price: $6.57 52-week range: $6.40 to $8.91 Earnings estimates for fiscal year 2014: 79 cents per share Earnings estimates for fiscal year 2015: $1 per share Annual dividend: n/a |
Posted at 01/4/2014 14:02 by colinhy An interesting trade between the principal shareholders and the holding company , Emblaze Ltd. .An extremely interesting trade has recently been arranged, as further indicating that Willi -Food may be a bargain . The company is run by two elderly Jewish brothers Zwi and Joseph Willinger . Zwi and Joseph founded Willi -Food in 1992. The brothers own total 58% of Willi -Food Investments Ltd. . (WFI ), which owns 58% of Willi -Food (G. Willi - Food International Ltd. . ) . Willi -Food is acting mainstay of the holding company. In early March, the brothers sell their stake in WFI to the holding company , Emblaze Ltd. . Controlled by the Ukrainian billionaire Alexander Granovsky , the brothers have a good relationship in advance. Granovsky is known to be an international businessman , in contrast to the two brothers , and the primary reason for the brothers' sales have probably been that Zwi and Joseph looking Willi -Food International adventures in better hands with Granovsky , who has long shown an interest to invest in Israel's food industry . Zwi has announced the company's webcast Q4 2013 to Granovsky has already presented the brothers for 3-4 acquisition targets in the U.S. market , which is currently in the process of exploring. The deal between WFI and Emblaze Ltd. . expected to be completed in Q2 2014. The plan is that the brothers continue to drive Willi -Food for a minimum of 18-36 months with possibility of extension. If the brothers terminate their contracts ahead of time will result in a six -year suspension from starting a competing business to Willi -Food . The brothers' age in mind ( Zwi and Joseph are respectively . 59 and 57 years) , so it's hardly their plan to start a new business. The market reacted to the sale by sending shares down 15% over two days, but it seems that the deal has been misunderstood , because at that time just sent a message out that the brothers had chosen to sell their share of Emblaze Ltd. . This could in itself sounds very negative , why would the company's two founders suddenly decide to sell their own business? They forgot , however, just to mention that Granovsky had bid about 76.6 m USD for the brothers' interest in WFI , which corresponds to a total value of the holding company of just 132 m USD (115 mUSD if you subtract the 17 mUSD which the holding company has in cash) . Next, remember that WFI only owns 58% of the Willi -Food , which is the holding company's only source of income . Emblaze Ltd. . have the opportunity to acquire a total of 61.8% of WFI to a total of 81.6 m USD . Thus, one can assume that Granovsky estimates that the Willi -Food currently approx. 198.3 m USD worth ( if 58% is 115 m USD worth then 100% to 198.3 m USD worth ) , that is roughly twice the current market value. It becomes even more funny when you pull cash balances out of the deal , which Willi -Food business then valued at approx. 136.5 mUSD with a current enterprise value of only 38 m USD ( 198.3 minus 61.8 m USD cash) . Despite a few daring assumptions on my part, so does it look interesting, does not it? Granovsky has seen something of a growth potential , since he would pay so much for the brothers share . There are some related parties who clearly sees great potential in Willi -Food . Although some might think that I totally miss with these estimates , I see things being equal Willi -Food as an interesting investment opportunity regardless of the offer from Emblaze Ltd. . Shareholder Return Willi -Food is a small growing company with a very strong balance sheet . Will be distributed no dividends when profits are invested in the company. This is , in my view makes sense, since it makes no sense to distribute money to shareholders when they in fact can do more good in the company and thereby create long-term shareholder value. The management is, however, open to a potential share buyback program in 2014 , as also the management is aware that Willi -Food is affordably priced . Willi -Food is a good investment for the company itself , as the share buyback is a sensible way to pay the money back to shareholders if the company is trading at a fair or undervalued price - especially in terms of net asset value. This technique increases the remaining shareholders' share of the company's assets and profits - including Higher EPS and NAV to follow. Management is also very conservative and cautious in terms of capital , and as I have mentioned in several places , so saves you money to one or more strategic acquisitions - probably in the United States . risk Factors Despite the fact that Willi -Food is a very interesting company , then there is , as with all companies , many risk factors to consider. I will try to mention some of the key below. First of all, there is a currency risk in that company's main revenue takes place in Israeli shekels but appears in both ILS and USD accounts ( 1 USD = 3.5 ILS ) . These can also include potential political and social uncertainty in Israel and rising food prices. The competition in the kosher industry is also significant , and Willi -Food must be able to continue to adapt and expand its product range with appealing kosher products. A growing market should also mean increased competition in the long term . Arla accounted for 47 % of Willi -Food milk deliveries in 2012, which puts Arla in a strong position of power in cooperation with Willi -Food . Zwi Willinger has said that working with Arla is strong and lasting . In March 2015 expiring contract, but management seems confident that this renewed 5-10 years . Let's hope it continues . Willi -Food dairy sales amounted to approx. 20 m USD in 2012, of which Arla supplies therefore must stand for about 10 mUSD of sales. Two major chains in Israel ( Shufersal Ltd. . And Mega Retail Ltd.). Was gathered around . 32% of Willi -Food sales in 2012, but Willi -Food products are gaining market share , and there is no indication that any of the chains would be interested to stop cooperating . These two collaborations are not contractual equally and chains demand for Willi -Food products may vary from year to year. The company is experiencing , however, a growing demand . Currently, Willi -Food is a large net interest income from their capital stock (net interest income in 2013: 3.5 m USD ) , and in the short term, a great investment is likely to result in a decrease in interest income . You then have to assume that the company through investment manage to create additional value and profit in the long term , but even here there is obviously a risk that a potential acquisition are not getting the desired long-term effect (normal acquisition and investment risk). If the deal with Emblaze Ltd. . goes down the drain , it can of course also affect the market value negatively , but you must remember that Willi -Food is an interesting and inexpensive company regardless of trading Granovsky . Key people also have high value in the company , and it is therefore hoped that Zwi and Joseph Willinger can be replaced with one or more new competent and skilled business people when the time comes. conclusion Willi -Food is an interesting investment opportunity for patient investors . It is a modest presence in the U.S. and Europe, and it would be good to see an acquisition in the U.S. market in 2014 , as Willi -Food can really grow internationally and have used some of the large capital stocks that are currently waiting to get out and work. Management also puts strong up to that in 2014 expects to execute an acquisition . It is hoped that cooperation with Granovsky and Emblaze Ltd. . runs smoothly , that the transaction is completed and that he can help Willi -Food to grow outside of Israel . Perhaps his plan to buy Willi -Food of the stock market ? In this case, it will probably be at a significant premium . The company is trading very cheap in terms of ratios , which is odd for a company that is growing so resistant without debt and expects continued growth . It is also interesting that the company trades at a NCAVPS of 7.3 USD with a current share price of 7.7 USD. The extremely solid balance sheet, the positive outlook and the very low pricing creates an excellent safety margin despite a cash flow affected by negative changes in working capital. Downside seems therefore to be limited while the upside is great. Why Willi -Food traded so cheaply is not to know. It may, because the company is small with limited liquidity of the share. It runs probably under the radar of the major institutions due to this. Had the company had its main activities in the United States had the case and the pricing might have been different , and perhaps keep some away because they see it as a little risky share in a developing country ? I estimate ceteris paribus , that here is a situation where the underlying value is significantly lower than the current market value . If it sounds interesting , so I advise strongly reader to undertake its own due diligence, and this is not a BUY recommendation. I've probably forgotten or overlooked numerous important factors that speak for and against this company as an investment. Below the reader can find various relevant sources of information . Willi -Food can be found under the ticker , WILC , on various financial sites . A preliminary financial statements for 2013 (it should be noted that the lending of 18.8 m USD , which is recorded in the balance sheet short-term assets that have already been repaid with interest income of approx. 120 to USD ) |
Posted at 28/2/2014 14:19 by landsker cjohnif as you claim the emblaze share price dropped 45% in two weeks due to investor selling then how come there was more buying than selling during that fall?, investor emotions might play a big part in bigger blue chip companies but a tiny concern like emblaze has different levers , somebody knows the reason for that fall/ manipulation call it what you want but us small private investors dont, the yo yo emblaze share price has suited me over the years anyway, i thought it might have ended afte the takeover but it appears not |
Posted at 28/11/2013 20:20 by colinhy from Calcalist.com todayAlexander Granovsky, the controlling shareholder of BGI and Yossi Schneerson, CEO of Emblaze, today announced Emblaze received the approval of the authorities in London and will be traded on the standard list, a move that than the final decision of the Board of Directors of Emblaze invest IDB Also, the new investor group led by Granovsky guarantee that the administrative staff of the IDB will be a new team that is not from investors. Starting as chairman, CEO and senior management to Avenue IDB staff will be new, professional and senior management level that can be found today in the business sector in Israel," they wrote in the message. "We run for a long time talks and contacts with chain executives and businessmen, officials in Israel, in order to establish a new management path, including the Company's CEO and acting chairman who will run for a group of investors in the company IDB day after confirmation Htzatino debt settlement company "they added. "We have no doubt that the business potential latent in IDB, together with the new management will prove that the investment in the Company is and will be one of the most important business processes and Emblaze major," the company said. |
Posted at 13/8/2013 11:51 by colinhy One week after a Tel Aviv judge gave Nochi Dankner additional time to raise hundreds of millions of shekels to save IDB Holding Corporation, a potential foreign investor group has stepped into the picture, and may invest some NIS 500 million in the embattled company if the parties reach an agreement. The group, brought together by an ultra-Orthodox accountant from New York named David Waldler, largely comprises wealthy ultra-Orthodox American Jews. Waldler is well known in New York real estate and finance circles. Sources close to the negotiations said the potential investors had or were close to raising the funds. They are presently holding discussions with Dankner on the future management of the company and the stake he would retain in it if the deal is finalized; he is likely to become a minority shareholder. If Dankner's negotiations with the group materialize, the money will be deposited into an escrow account. Dankner faces a deadline next Sunday, when he has to inform the Central District Court handling IDB Holding's bankruptcy proceedings about a new investor. As part of a debt repayment plan that IDB Holdings previously presented the court, the company's existing shareholders or new investors must inject an additional NIS 800 million into the company, which would then transfer it to its fully owned subsidiary company IDB Development Corporation. Once court approval is received, NIS 500 million will be transferred immediately to IDB Development, followed by another NIS 200 million by the end of 2013. The final NIS 100 million will arrive by the end of March 2014. According to the debt-restructuring plan, IDB Holding's creditors would receive 54.12% of shares in the reorganized company, while Dankner and new investors would get the rest. However, due to the large number of creditors who are expected to receive shares in the company, Dankner and his new partners are expected to retain control. The American investor group recently held talks with Alexander Granovskyi, an ultra-Orthodox Jewish businessman from the Ukraine. Through the charity fund Chabad 770 he maintains indirect control of Israeli company BGI, which retains cash reserves of NIS 220 million. Waldler recently met in New York with Yosef Schneersohn, the new CEO of BGI to discuss the IDB deal, but at this stage Granovskyi appears to be more interested in pursuing his own deal for IDB. Granovskyi is currently in talks to acquire a controlling stake in the company Emblaze as a maneuver to invest its cash reserves of more than NIS 145 million in IDB Holding. The American group is also trying to persuade the controlling shareholders of Israel's Netz Group to join the deal. Argentinian Jewish businessman Eduardo Elsztain, who backed out of his planned investment in IDB Holding last month, is also apparently still in the picture. He invested NIS 100 million in 2012 for a 10% stake Dankner's Ganden Holdings -- the parent company of IDB Holding, which was declared insolvent -- making him likely to lose his investment. However, it is unclear if Elsztain wants to or is capable of coming up with necessary funds for the latest IDB Holding deal. |
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