Kursverdoppelung bei Actua Corporation (vorm. Internet Capital)

http://www.istockanalyst.com/business/news/...ith-seapass-quoting-hub  

verbliebenen 10 Millionen Dollar aus dem 25-Millionen-Dollar-Rückkaufprogramm bei den momentanen Kursen mehr Aktien zurückkaufen. Ich gehe davon aus, dass sie bis zu dem Ende des Quartals das Programm abgearbeitet haben und dann die Zahl der Aktien von momentan knapp 37 Millionen Aktien auf dann 35,8 bis 35,9 Millionen Aktien gesunken ist. Und ich gehe auch davon aus, dass sie ein weiteres Rückkaufprogramm auflegen, denn Cash ist ja nun wahrhaftig genug vorhanden.  

auf dem Weg in den Keller, diese Aktie kennt momentan nur einen Weg abwärts, wer rechtzeitig bei 14$ die Reißleine gezogen hat, kann sich eigentlich nicht beklagen, bis dieser Titel dort wieder hinkommt, ist längst ein neues Jahr wieder vorbei - das ist natürlich alles reine Spekulation, hier weis keiner was genaues..........................................................­..............
Sold Out Positions:58! 11,991,390  

- mit dieser Meinung liegt er richtig. Wenn ich nicht schon 10.000 Stück hätte, würde ich auch kaufen.  

spekulative Anleger, die bei dieser Aktie einfach falsch sind, die völlige ohne Kredithebel und ausschließlich mit Eigenkapital arbeitet - und das ist eigentlich schon seit fünf Jahren so. Leider haben das insbesondere konserative Privatanleger noch nicht bemerkt, konserative Insitutionelle wie Fidelity aber durchaus, wie ihr den letzten Daten entnehmen könnt.

Owner Name
Select a name below for more information.

Date

Shares Held

Change
(Shares)

% Change
(Shares)

Value
($1000)



FMR LLC

6/30/2011

4,768,959

817,407

20.69%

$43,159  

Beteiligungen an folgenden Unternehmen:

Beteiligungen an folgenden Unternehmen:

At June 30, 2011, our consolidated core companies consisted of:

GovDelivery Holdings, Inc. (“GovDelivery”)

GovDelivery is a provider of government-to-citizen communication solutions. GovDelivery’s digital subscription management software-as-a-service (SaaS) platform enables government organizations to provide citizens with access to relevant information by delivering new information through e-mail, mobile text alerts, RSS and social media channels from U.S. and U.K. government entities at the national, state and local levels.


ICG Commerce Holdings, Inc. (“ICG Commerce”)

ICG Commerce is a procurement services provider delivering total procurement cost savings through a combination of deep expertise and hosted technology. ICG Commerce provides a comprehensive range of solutions to help companies identify savings through sourcing, realize savings through implementation of purchase-to-pay automation and drive continuous improvements through ongoing category management.


Investor Force Holdings, Inc. (“InvestorForce”)

InvestorForce is a financial software company specializing in the development of online applications for the financial services industry. InvestorForce provides pension consultants and other financial intermediaries with a Web-based enterprise platform that integrates data management with robust analytic and reporting capabilities in support of their institutional and other clients. InvestorForce’s applications provide investment consultants with the ability to conduct real-time analysis and research into client, manager and market movement and to produce timely, automated client reports.


At June 30, 2011, our equity core companies consisted of:


Channel Intelligence, Inc. (“Channel Intelligence”)

Channel Intelligence is a data solutions company that provides innovative suites of services for manufacturers, retailers and publishers that help consumers work with retailers to find and buy products, whether they start at retailer sites, manufacturer sites or destination shopping sites, through the use of Channel Intelligence’s patented optimization technology and data solutions.


Freeborders, Inc. (“Freeborders”)

Freeborders is a provider of technology solutions and outsourcing from China. Freeborders provides industry expertise to North American and European companies specializing in financial services, technology, retail/consumer goods, manufacturing and transportation and logistics. Freeborders’ offerings help companies seeking cost-effective technology solutions.


StarCite, Inc. (“StarCite”)

StarCite provides a comprehensive suite of software applications and services to the meeting and events industry, driving efficiencies and cost savings to both corporate buyers and suppliers. Corporate, association and third-party meeting buyers rely on StarCite’s enterprise meeting solutions for workflow, procurement, supply chain management, spend analysis and attendee management. Thousands of industry suppliers rely on the StarCite online marketplace, supplier marketing programs and enabling technologies to increase meeting revenues. StarCite’s international division represents destination management companies and other premier international travel suppliers.


WhiteFence, Inc. (“WhiteFence”)

WhiteFence is a Web services provider used by household consumers to compare and purchase essential home services, such as electricity, natural gas, telephone and cable/satellite television. WhiteFence reaches customers directly through company-owned websites and through its network of exclusive channel partners that integrate the Web services applications into their own business processes and websites.


At June 30, 2011, our venture companies consisted of:


Acquirgy, Inc. (“Acquirgy”)

Acquirgy specializes in direct response marketing services and technology that provide customers a wide range of tools to help market their products and services on the Internet and through traditional media channels such as television, radio, and print advertising.


GoIndustry-DoveBid plc (“GoIndustry”) (LSE.AIM:GOI)

GoIndustry is a leader in auction sales and valuations of used industrial machinery and equipment. GoIndustry combines traditional asset sales experience with innovative e-commerce technology and advanced direct marketing to service the needs of multi-national corporations, insolvency practitioners, dealers and asset-based lenders around the world.


SeaPass Solutions Inc. (“SeaPass”)

SeaPass develops and markets processing solutions that enable insurance carriers, agents and brokers to transmit and receive data in real time by leveraging existing systems to interact automatically. The company’s technology allows access to information in real time, which increases efficiency across all lines of the insurance business.  

im letzten Posting hatte Internet Capital am letzten Quartalsende auch noch 114 Millionen Cash, die allein 35% der extrem niedrigen Marktkapitalisierung von gestern 327 Millionen ausmachen: Cash and cash equivalents on 06/30/11 was 114.205 million    

Und dabei steht für mich ohne Zweifel fest, dass alleine die 81% an der wertvollsten Beteiligung ICGCommerce sehr viel mehr wert sind als die Differenz zwischen obigen 327 Millionen und den 114 Millionen = 213 Millionen.  

Ich gehe dabei von einem von 114 Millionen auf 102 Millionen gesunkenen Kassenbestand aus und von einem Rückgang der umlaufenden Aktien (durch Rückkauf) von 37 Millionen auf 36 Millionen aus = 360 Millionen Marktkapitalisierung. Nach Abzug von 102 Millionen Cash und ca. 3 Millionen Aktienbestand verbleiben somit noch ca. 255 Millionen, die durch die Beteiligungen - jetzt noch 9 - abgedeckt werden müssten.

Dies geschieht allein schon durch die 81% an ICGCommerce. Denn die zwischen 125 Millionen und 127 Millionen liegenden Umsätze ergeben selbst bei einem extrem niedrigen einmal angenommen Muliple (bei einem jetzt über Jahre andauernden Wachstum von jeweils 25% bis 30% pro Jahr)einen Wert von 380 Millionen. Damit decken die Cash und die 81% an ICGCommerce schon mehr als die Marktkapitalisierung ab.  

http://tbe.taleo.net/NA6/ats/careers/...jsp?org=FREEBORDERS&cws=1

Ein Zeichen für starkes Wachstum.  

http://www.govdelivery.com/whos-using-gd/state/  

hier gar nicht posten, denn jeder private Käufer stört momentan den Rückkauf eigener Aktien.  

noch niedrige Preise und ein relativ hohes Volumen, das dann auch hohe Rückkäufe ermöglicht.

Momentan warte ich auf die Meldung, dass das  existierende 25-Millionen-Rückprogramm abgearbeitet ist und ein neues Programm startet. Denn es ist sehr attraktiv und risikoarm die Zahl der umlaufenden Aktien zu reduzieren.  

zweistellig wachsen:

http://www.outsourcemagazine.co.uk/articles/item/...ement-outsourcing  

http://connxus.com/blog/2011/04/11/...e-king-of-prussia-pennsylvania/  

ankommt:

http://messages.finance.yahoo.com/Stocks_(A_to_Z)/...;tof=1&frt=2  

http://tbe.taleo.net/NA6/ats/careers/...jsp?org=FREEBORDERS&cws=1  

fur das wertvollste Unternehmen von ICG Group: ICGCommerce.

http://finance.yahoo.com/news/...news-pz-1943471124.html?x=0&.v=1  

http://spendmatters.co.uk/icg-commerce-outsouricng-kings-prussia/  

an denen Internet Capital, das inzwischen in ICG Group umgetauft wurde, 81% hält:

"My first surprise was in getting a sense of how big the organisation is – over 700 people now. It’s an impressive facility, and the number of people actually working there reflects the way they structure their offering to clients. More about that later."  

den Wert von Internet Capital (neuer Name: ICG Group):

Most important for the value of ICG Group is the value of ICGCommerce: Revenues of ICGCommerce in 2011 will be about 126 million. That would be by 3.5-times-revenues a fair value of 441 million for ICGCommerce. 81% of ICG Group on ICGCommerce are about 357 million. That are by the from 37 million to 36 million reduced outstanding shares = $9.92 from ICGCommerce alone.  

(after estimated additional buy-backs of one million shares for about 10 million) are the 357 million for 81% of ICGCommerce = 457 million. If we divide through the 36 million outstanding shares = $12.7. And free of charge are additional all partner-companies without ICGCommerce  

The 36% of Starcite have the next highest value after the 81% on ICGcommerce  

After my estimates revenues of Starcite in 2011 will be about 52 million. That are a fair value by 3-times-revenues of 156 million. 36% of 156 million = 56 million value.

100 million cash/securities + 357 million from 81% of ICGCommerce + 56 million from 36% of Starcite = 513 million. If you divide this 513 million through the 36 million outstanding shares = $14.25/share. And additional free of charge are all companies without ICGCommerce and Starcite.  

Number 3 of the partner-companies is now after my newest estimate Channelintelligence, who delivers performance advertising services for manufacturers and retailers. Internet Capital reported, that this company was 2010 in a Trailing Revenue Range of $20M – $30M. Reveneus in 2011 will be about 30 million. A conservative estimate with only 3-times-revenues valuates Channelintelligence with 90 million. The 50% of ICG Group = 45 million.

100 million cash/securities + 357 million from 81% of ICGCommerce + 56 million from 36% of Starcite + 45 million from the 50% of Channelintelligence = 558 million. If you divide this 558 million through the 36 million outstanding shares = $15.5/share. And additional free of charge are all companies without ICGCommerce Starcite and Channelintellence  

stark untertrieben, denn Oracle bezahlte bei einer Übernahme das 6,5-fache des Umsatzes:

Im Handelsblatt von gestern kann man lesen:

"Oracle kauft Cloud-Anbieter für 1,5 Milliarden Dollar

Der SAP-Rivale Oracle kauft für rund 1,5 Milliarden Dollar einen US-Spezialisten zur zentralen Datenverwaltung im Internet (Cloud-Dienste).  Orcale bietet nach eigenen Angaben 43 Dollar pro Aktie. Right Now setzte im dritten Quartal 57,7 Millionen Dollar um, knapp 20% mehr als vor Jahresfrist. Pro Aktie verdiente das Unternehmen vier Cent."

Oracle bezahlt also hier das 6.5-fache des Umsates.  

Revenues of Freeborders in 2011 will be about 34 million after about 29 million in 2010. That is by low 3.5-times-revenues a value of 119 million. Value of the 31% of Internet Capital = 37 million.

100 million cash/securities + 357 million from 81% of ICGCommerce + 56 million from 36% of Starcite + 45 million from the 50% of Channelintelligence + 37 million from 31% of Freeborders = 595 million. If you divide this 595 million through the 36 million outstanding shares = $16.5/share. And additional free of charge are all companies without ICGCommerce Starcite, Channelintellence and Freeborders.