Enter a stock symbol
Enter a stock symbol to view that company's Altman Z-Score if it is a manufacturing company, or its Altman Z"-Score, if it is a non-financial, non-manufacturing company, and to view message board posts for that stock (Scores are available for premium members).
Screener
Below is a list of today's twenty-five most distressed stocks (according to their Altman Z-Score or Z''-Score, respectively) with a share price of $5 or higher. For details on how this ranking list is compiled, please click here.
Stock Chart
Flash Player 9 or higher is required to view the chart
Click here to download Flash Player now
CKEC,RDI - Shorting to Hedge Event-Driven Risk
One of the hedge fund managers who attended the West Coast demo of Short Screen mentioned that RDI was currently his largest long position and described how he uses short selling to hedge its event-driven risk. The manager said he'd been long cinema chain RDI for years, and was bullish on it mainly because of the underlying real estate it owned. The risk that concerned him was "event-driven" -- the chance of a virus pandemic that discouraged people from going to movie theaters, or a string of lousy box office performers.
To hedge against this risk, he said he would short other cinema chains. One of the specific names he mentioned was Carmike Cinemas, which Hesperian mentioned as a short idea a few months ago ( http://shortscreen.com... ).
Submit a comment
In order to comment please sign in.
I do like the Angelika theater but having that big a long position I don't understand. He clearly knows more about their real estate holdings than I (I know nothing). I will say that where the Angelika is in Dallas is PRIME real estate. If they own that shopping center then I'd be in agreement with him and especially if they own similar properties elsewhere. His event driven risk examples are interesting. The bed bug outbreak in NYC is a good example of he fears.
Okay, I see here, http://www.readingrdi.... that in the US they own only in Chicago and NYC.
It sounded like he was most bullish on the company's real estate in Australia and New Zealand. He also mentioned that he's been an activist investor in the company in the past (if memory serves, by encouraging a few of its predecessors combined into the current co).