8
Value-oriented stock screens Each month, we present favorite stock
the investment ideas covered in these
screens for value investors. These
reports include special situations such
include screens to uncover Ben Graham-
as spinoffs and activist targets as well
style “net-nets,” Joel Greenblatt’s
as underfollowed companies (no analyst
“magic formula” stocks and other value
coverage, small-and micro-cap stocks).
candidates. Reports that fall outside our
Based on our differentiated coverage, our
quarterly “superinvestor” coverage may
subscribers can usually point to several
focus on stocks pre-qualified through
winning ideas per year that they would
these screens and our other, more
not have considered had it not been for
qualitative filtering processes. Many of
our work. Value-oriented Equity Investment Ideas for Sophisticated Investors
Activist Targets: Potential Sales, Liquidations or Recaps Companies that may unlock value through a corporate event
▼ Move To 52-Week Low High
MV ($mn)
EV ($mn)
Price to Tangible Book
Net Cash (% of MV)
NCAV (% of MV)
EV/ Sales
Next FY P/E
Insiders % Buys/ Own. Sells
Company
Ticker
Price ($)
1 2 3 4 5
Qiao Xing Mobile Qiao Xing Universal Fuqi International Volt Information Audiovox
QXM XING FUQI VOL VOXX
3.76 1.78 6.18 6.50 6.58
-45% -24% -27% -5% -8%
38% 61% 271% 108% 48%
198 164 171 136 151
(120) (258) 46 107 92
.5x .3x .6x .5x .6x
160% 257% 73% 21% 39%
199% 198% 164% 147% 140%
n/m n/m .1x .0x .2x
4x -
0% 0% 0% 0% 9%
-/-/-/1/1 10 / 10
9 10
* RINO International Crexus Investment Opnext Imation PennyMac Mortgage
RINO CXS OPXT IMN PMT
6.07 12.61 1.37 9.40 17.59
-6% -7% -2% -15% -12%
479% 15% 101% 34% 5%
174 229 123 364 296
139 (46) 81 107 (111)
.6x .8x .6x .6x .9x
20% 120% 35% 71% 137%
136% 119% 117% 115% 110%
.6x n/m .3x .1x n/m
4x 10x n/m 49x 7x
0% 0% 0% 0% 0%
1/2/-/3/1/1
11 12 13 14 15
Zoran Colony Financial * Pebblebrook Hotel Movado Ingram Micro
ZRAN CLNY PEB MOV IM
6.96 19.15 18.33 11.40 17.92
-14% -14% -8% -24% -18%
77% 10% 22% 28% 5%
350 280 731 282 2,810
(22) 3 28 237 2,408
.8x 1.0x 1.1x .8x .9x
106% 99% 96% 16% 14%
101% 99% 95% 94% 93%
n/m .1x 1.2x .6x .1x
n/m 11x 68x 76x 8x
1% 0% 0% 0% 0%
3/1/1/1/1 5/4
16 17 18 19 20
Sprott Physical Gold West Marine PC Connection Exceed Company Cynosure
PHYS WMAR PCCC EDS CYNO
11.88 9.22 7.96 8.92 9.99
-19% -26% -28% -31% -12%
8% 48% 12% 17% 41%
821 208 211 175 126
88 171 174 100 36
1.1x .9x 1.1x .9x 1.0x
89% 18% 18% 43% 72%
89% 88% 88% 87% 83%
n/m .3x .1x .3x .5x
10x 9x 4x n/m
0% 22% 2% 0% 0%
-/8/4 1/3 -/-/-
21 22 23 24 25
Benchmark Electron. QLT Tech Data FormFactor Nam Tai Electronics
BHE QLTI TECD FORM NTE
16.60 5.94 44.01 9.45 6.33
-16% -39% -21% -27% -36%
37% 12% 11% 140% 7%
1,011 304 2,051 475 284
676 105 1,530 103 65
1.0x .8x 1.1x 1.1x .9x
33% 65% 25% 78% 77%
83% 82% 81% 81% 79%
.3x 2.3x .1x .6x .1x
11x 10x n/m 16x
1% 1% 1% 0% 0%
2/2 3/10 / 12 5/2 -/-
26 27 28 29 30
Tuesday Morning Maxygen Callaway Golf * InfoSpace * Flexsteel Industries
TUES MAXY ELY INSP FLXS
5.10 6.25 7.69 7.71 16.82
-59% -18% -25% -14% -52%
73% 15% 33% 58% 1%
219 188 495 279 113
219 35 384 51 108
.9x 1.3x .9x 1.3x .9x
0% 81% 22% 82% 4%
76% 76% 76% 75% 75%
.3x .8x .4x .2x .3x
n/m 33x 48x 8x
2% 1% 0% 3% 4%
6/2 4/7/1 2/8 6/-
31 32 33 34 35
* AMAG Pharma Cypress Bioscience Cogo Group Ascent Media TomoTherapy
AMAG CYPB COGO ASCMA TOMO
13.85 4.06 7.71 27.64 3.46
-1% -49% -27% -20% -25%
279% 55% 6% 11% 28%
293 157 272 395 187
19 51 211 116 47
1.1x 1.3x 1.4x .7x 1.1x
94% 67% 22% 71% 75%
74% 73% 73% 73% 72%
.3x 1.7x .6x .3x .2x
n/m n/m 8x n/m n/m
0% 0% 0% 0% 7%
4/3 1/-/-/14 / 5
36
Hurco
HURC
19.72
-30%
2%
127
82
1.2x
36%
71%
.9x
26x
0%
3/-
Favorite value screens 6 7 included in each report 8