Insider's Strong Buying Prompts Pre-Spin MP Entry
Back in 2018, Synnex Corp. (SNX) Chairman Matthew Miau bought $39m worth of shares on the open market, and made +85% returns. The Coronavirus market effect brought the share price back down near his entry levels, and he has now bought another $9m in shares - demonstrating his conviction in the company's performance even as it has delayed its planned Spinoff to the end of 2020. This positive insider buying trend has prompted us to take a pre-Spin entry in the Model Portfolio.Chairman Emeritus Matthew Miau Owns Significant Stake in SNX
Only Two Open Market Purchases in 20 Years / +85% Return from 2018 Buying
SNX is a Leader in IT Distribution & Services / Part of Taiwanese IT Cooperative Group
Concentrix (Spinoff) Offers Business Analytics & Customer Engagement Services
Expected Completion of Spinoff in Q4 2020 / SNX Enters the Spinoff Model Portfolio with a +3% Weighting at the End of Today's (May 1) VWAP
Synnex is a business process services company, providing a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement to a range of enterprises. The company's segments are: Technology Solutions, which distributes peripherals, information technologysystems including data center server and storage solutions, system components, software, networking, communications and security equipment; and Concentrix, which provides a portfolio of solutions and business services focused on customer engagement, process optimization, technology innovation, front and back-office automation and business transformation to clients.
The Edge Group - Global Fundamental Catalyst Investing. The Edge provides investors with access to hidden corporate value from Global Special Situations using a pioneering approach to investments. Founded in 2005 by fund management and investment banking professionals to provide high quality, private equity-level research on Global Corporate Divestitures for the benefit of fundamental event-driven, growth and value-oriented investors in this difficult to track, but proven investment space.
The Edge will look to screen and analyze include Spinoffs; Reverse Morris Trusts; Squeeze Outs; Privatizations; Demutualization; Deep Discounted; Rights Issues; Rights Offering; Restructuring; Insider Purchases / Buying Change of Management / CEO Change; Deteriorating fundamentals; Post-Bankruptcy; Reorganization; Tender Offer; M&A Deals; Secondary Offering; Share Swap; Thrift Conversions; Share Buybacks; Activist; Mergers. All analyzed from a fundamental point of view.
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