Lemelson Capital Management calls for Removal of Geospace Technologies (NASDAQ: GEOS) Senior Executives, Sale of Company
Firm seeks public and transparent filings
Marlborough, MA, February 9, 2017—Lemelson Capital Management, LLC, a private investment management firm, announced today it is calling on the board of directors of Geospace Technologies (NASDAQ: GEOS) to remove CEO Rick Wheeler and CFO Thomas McEntire. In addition, it is urging the board to explore an immediate sale of the company. Geospace is a global leader in the design and manufacture of instruments and equipment used by the oil and gas industry.
Just one week before the Dow and othe rmajor US indexes plummet on February 2, 2018, listen to Fr. Emmanuel speaking to the crew of Benzinga TV on the risks of a stock market crash.
…I don’t think people are thinking about the price-value dislocations at all, they just think, no price is too high because tomorrow it will be higher and that’s a scary environment..."
- Fr. Emmanuel Lemelson, speaking to Benzinga TV on January 26, 2018
More from the interview:
“When everyone is jumping in, it’s just classic late stage, the history of US financial markets are cyclical, and you’d have to believe we’re not going to have a down-cycle at any time to buy-in at these prices… frankly the short side looks much better to me. You can almost see it in the sentiment of the average retail investor, when they really believe its easy, right? It’s easy to make money, you put your money in and you get a return and people stop caring about prices…
When price is completely divorced from value in the mind of the average investor, and then you start to see things that are symptomatic of a bubble, like frantic speculation in things like bitcoin and crypto-currencies, these are all indications that we’ve entered a phase that’s not at all rational and it could end at any time, it could be any sort of event, there’s just no margin of safety in most issues out there right now, most things are fully priced, many things are off-the-charts priced, and I don’t think people are thinking about the price-value dislocations at all, they just think, no price is too high because tomorrow it will be higher and that’s a scary environment”
Lemelson Capital Management announces 10 percent stake in Geospace Technologies (NASDAQ: GEOS), urges immediate share repurchase
Firm reiterates near-term intrinsic value at $38 per share
Marlborough, MA, December 1, 2017—Lemelson Capital Management, LLC, a private investment management firm, announced today it has acquired, for its flagship Amvona Fund, LP, a stake of approximately 10 percent in shares of Geospace Technologies (NASDAQ: GEOS), a global leader in the design and manufacture of instruments and equipment used by the oil and gas industry. In addition, it is urging the company to initiate an immediate share repurchase plan.
Rev. Fr. Emmanuel Lemelson speaks to global business and political leaders at the Caux Round Table at the Wittenberg Center for Global Ethics about Theosis in the Orthodox Church, his per personal life experiences, including as an activist investor, a Christian philosophy of investment and being a witness for Christ.
Listen to Fr. Emmanuel live on November 10, 2017 discussing an update on The Amvona Fund, LP's recent investments in the retail sector.
“…honestly, I thought it [Hibbet Sports] was one of the best value investments we had come across in the last seven years… we loaded-up substantially… we bought a huge block of shares between $9.40 per share and $9.50 per share, I couldn’t believe it, the price”
“some of the things people are saying about them [Hibbett] are not really rational, like saying, ‘it’s too little too late for their ecommerce’… why would you bet that they’re not going to benefit from having an ecommerce business? I think they’re going to do their omni-channel business extremely well… it’s an incredibly well-run business, I think it’s going to be a home-run for us… we already have a very significant rate of return…”
Interview includes an update on the fund's stakes in:
Commentary includes discussion of Amazon (NASDAQ: AMZN) and it's recent purchase of WholeFoods Market, implications for Costco Wholesale (NASDAQ: COST) as well as an extensive discussion of regulatory and accounting abuses in the pharmaceutical industry.
Fr. Emmanuel Lemelson, founder and president of the Lantern Foundation and CIO of Lemelson Capital Management, LLC speaks to Global Investors and Business Leaders at the Berkshire Hathaway Annual Meeting in Omaha, NE on May 5, 2017
Listen to Fr. Emmanuel live discussing The Amvona Fund, LP and his recent letter to US Senate. Interview includes extensive discussion of the the fund's significant short stake in shares of Domino's Pizza (NYSE: DPZ).
St. Katherine Orthodox Chapel – 3D rendering with accurate topography and location of trees. Dome will be alternating Gold and Silver sections. Chapel will be located on 28 pristine acres between the Worcester Mountain range and Mount Mansfield in Stowe, VT. Synthesis of traditional Byzantine Architecture with local Adirondack ethos.
St. Katherine Orthodox chapel – major updates and changes to concept in collaboration with of CJK Design Group and their incredible team. Chapel will be located on 28 pristine acres between the Worcester Mountain range and Mount Mansfield in Stowe, VT. Synthesis of traditional Byzantine Architecture with local Adirondack ethos.