180 Degree Capital Corp Stock Price, News & Analysis

180 Degree Capital Corp. (NASDAQ: TURN) is set to announce its fourth quarter 2020 financial results on February 22, 2021, after market close. A conference call will follow on February 23, 2021, at 9 AM ET to discuss these results and Q1 2021 updates. Interested parties can join via U.S. Domestic Dial-In Number (712) 770-4598 or through international dial-in options. The company focuses on investing in undervalued small publicly traded companies, aiming to stimulate share price reversals through constructive activism.

180 Degree Capital Corp. (NASDAQ: TURN) has expressed strong concerns regarding the undervaluation of Enzo Biochem, Inc. (NASDAQ: ENZ), where it holds 2.4% of shares. The company criticized ENZ's management for underperformance, highlighting a significant total return disparity compared to market indices. Additionally, 180 criticized the board for approving substantial compensation packages for management despite poor performance. Following a recent proxy vote, 180 urged immediate acceptance of CEO Rabbani's resignation and called for improved corporate governance.

180 Degree Capital Corp. (NASDAQ: TURN) implemented a 1-for-3 reverse stock split effective January 4, 2021, reducing approximately 31.1 million shares to 10.4 million. The reverse split retains shareholders' percentage ownership, with cash issued for fractional shares. In tandem, the number of authorized shares decreased from 45 million to 15 million. American Stock Transfer & Trust Company, LLC serves as the exchange agent, guiding shareholders in the conversion process. 180 Degree Capital focuses on investing in undervalued small companies, aiming for significant share price recoveries through constructive activism.

180 Degree Capital Corp. (NASDAQ:TURN) announced a $2.5 million stock buyback program, commencing January 4, 2021, alongside a 1-for-3 reverse stock split. This initiative aims to increase stock attractiveness, as the company seeks to elevate its share price above institutional investment thresholds. As of December 18, 2020, the firm's cash and securities reached approximately $58 million ($1.86/share), with expectations for net asset value (NAV) to exceed $3.00 by year-end. Management emphasizes transparency and confidence in long-term shareholder value creation.

B. Riley Financial and 180 Degree Capital Corp are advocating for significant changes to the Maven Board of Directors. They requested the immediate resignation of five directors, citing a lack of responsive dialogue. As principal investors in Maven's $24M equity offering, B. Riley and 180 believe the current board does not reflect the company’s growth potential following key acquisitions. They assert that timely action is necessary to prepare for an uplist to a major stock exchange and maintain shareholder interests.

180 Degree Capital Corp. (NASDAQ:TURN) reported its Q3 2020 financial results, highlighting a gross total return of +25.4% from public portfolio investments, outperforming the Russell Microcap Index. However, the private portfolio saw a decline of 10.6%, leading to a +7.4% growth of net asset value (NAV) to $2.90 per share. The company's stock price rose to $1.89, reflecting an 8.6% increase. Despite some gains in Q3, Q4 trends show a drop in public portfolio returns, with a total return of -2.7% through November 17, 2020.

On November 16, 2020, 180 Degree Capital Corp disclosed an opening position in Lantronix, Inc., owning 903,011 shares, representing 3.16% of the company's relevant securities. The disclosure adheres to Rule 8.3 of the Takeover Code, indicating 180 Degree Capital's significant interest in Lantronix as of November 13, 2020. The report also confirms that no dealings or financial arrangements have taken place that could impact their shareholding, and there are no additional disclosures in relation to other parties involved in the offer.

180 Degree Capital Corp. (NASDAQ: TURN) will announce its Q3 2020 financial results on November 18, 2020, post-market close. A conference call to discuss these results is scheduled for November 19, 2020, at 9 am ET. Investors can join via the U.S. domestic dial-in number (712) 770-4598 or international numbers listed in the release. Also, a replay will be available on the company’s investor relations website. The firm focuses on investing in undervalued small companies and aims to improve their share prices through constructive activism.

180 Degree Capital Corp. (NASDAQ:TURN) appointed Tonia L. Pankopf to its Board of Directors, replacing Charles E. Ramsey, who retired after 18 years. Pankopf brings 25 years of investment experience, including roles at Goldman Sachs and Merrill Lynch. Her expertise in capital market transactions and hedge fund management aligns with 180's goal to invest in undervalued small companies. The Board now consists of six members, four of whom are independent. The management views her addition as a strategic step to enhance growth and investment opportunities.