A $100m early debt repayment was made April 10th so LT Debt should be down to $1.53B. Management also plans to use most of the $241m remaining in the buyback program in 2024. Bought back $109m in Q1. Looks like they have a balanced capital allocation approach between debt reduction and buybacks. I think the stock moves in line with buybacks and any further upside depends on additional tailwinds in the business. Great business, great margin of safety. I continue to add.
Marcus, great point of view. Thanks for the input. We agree with your thoughts on GTX and its present and future prospects. As is always the case, whether we keep capital in a position is based on its comparison to our other companies. Right now, we have a few that, in our opinion, rank higher than GTX. So we are slowly reducing our stake. But hey, we could be totally wrong.
Six, great analysis! Over the long term, GTX will workout great forces the shareholders! I purchased some during the chapter 11 and now thanks to your analysis, will probably buy more.
A $100m early debt repayment was made April 10th so LT Debt should be down to $1.53B. Management also plans to use most of the $241m remaining in the buyback program in 2024. Bought back $109m in Q1. Looks like they have a balanced capital allocation approach between debt reduction and buybacks. I think the stock moves in line with buybacks and any further upside depends on additional tailwinds in the business. Great business, great margin of safety. I continue to add.
Marcus, great point of view. Thanks for the input. We agree with your thoughts on GTX and its present and future prospects. As is always the case, whether we keep capital in a position is based on its comparison to our other companies. Right now, we have a few that, in our opinion, rank higher than GTX. So we are slowly reducing our stake. But hey, we could be totally wrong.
I really like this piece, gents ...
Thanks, Bill!
Howard Marks’ fund has a big stake in $GTX. I believe Marks’ strength is credit investing.
Very true.
Six, great analysis! Over the long term, GTX will workout great forces the shareholders! I purchased some during the chapter 11 and now thanks to your analysis, will probably buy more.
Thanks, Lamont!