Welcome to our dedicated page for 180 Degree Capital news (Ticker: TURN), a resource for investors and traders seeking the latest updates and insights on 180 Degree Capital stock.
180 Degree Capital Corp (TURN) is a specialized closed-end investment fund employing constructive activism to drive value in undervalued small-cap companies. This news hub provides investors with essential updates on the company's strategic initiatives, portfolio developments, and market positioning within disruptive technology sectors.
Access real-time announcements about TURN's investment activities, including operational turnarounds in life sciences and precision medicine ventures. Our curated news collection features earnings reports, strategic partnership disclosures, and analysis of the fund's unique approach to unlocking value through hands-on portfolio management.
Key updates cover critical areas such as venture capital deployments, shareholder communications, and progress in implementing operational improvements across holdings. Investors gain insights into how TURN's focused strategy addresses valuation gaps in small-cap markets while managing sector-specific risks.
Bookmark this page for centralized access to verified financial updates and strategic announcements from 180 Degree Capital Corp. Stay informed about the fund's latest moves in identifying and transforming undervalued public companies through its distinctive blend of capital investment and operational expertise.
180 Degree Capital Corp. (NASDAQ: TURN) has reported an average discount of 18% between its daily net asset value (NAV) per share and its closing stock price in May 2024, with a year-to-date discount of 20%. This figure was 19% on May 31, 2024. The company has a Discount Management Program in place, which will evaluate the discount over two measurement periods, and may consider options like stock buybacks, cash distributions, or tender offers if the average discount exceeds 12%. CEO Kevin M. Rendino noted improvements in May 2024 for microcapitalization stocks, despite heightened volatility in their portfolio holdings. President Daniel B. Wolfe affirmed their long-term investment strategy, aiming for returns over 100% in one to three years.
180 Degree Capital Corp. (NASDAQ:TURN) reported an increase in its Net Asset Value per Share (NAV) to $5.16 as of March 31, 2024, up from $5.02. This growth was driven by a 4.7% gross total return in their public portfolio. Despite market pressures on microcapitalization stocks since mid-March 2024, the company views this period as an opportunity to realign and strengthen their portfolio. TURN's unique strategy involves constructive activism and a concentrated portfolio of 10-15 microcap companies. Long-term performance shows varying results with a notable 196.3% gross total return since Q4 2016. However, NAV declined by 37.7% since inception.
The company also highlighted the ongoing disparity between large-cap and microcap stocks, considering it a chance for long-term value creation. A conference call to discuss the results and developments is scheduled for May 14, 2024, at 9am ET.
180 Degree Capital Corp. (NASDAQ: TURN) will report its first quarter 2024 financial results on May 13, 2024, followed by a conference call on May 14, 2024, to discuss updates. The company's investor relations website will host presentation materials and a replay of the call.
180 Degree Capital Corp. noted a 14% average discount between its estimated daily net asset value per share and stock price in April 2024, and a 20% discount year-to-date. The company plans to evaluate discounts as part of a Discount Management Program. Kevin M. Rendino discussed challenging market conditions but expressed confidence in the value creation potential for shareholders.
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