The analysts at Benchmark Co. (never heard of them!) had Textura as a buy until this morning — now they call it a “Sell”. Ouch. The implication is that it is still over-valued, at $15/share. [Thanks, Mr. Allin. Recall that he sold something like $9 million worth of his shares, in the Fall of 2013, at around $38/share — shortly after the IPO, in a selling shareholders’ offering. Ugh. ]
Textura’s stock is off 15 per cent on the day, on the NASDAQ — but ALSO off close to 35 per cent — just since this past summer. Moveover, that is almost 60 per cent below where Mr. Allin took a very large chunk of his personal risk off the table — in 2013.
The quote, then:
…Textura Corp (NASDAQ:TXTR) was downgraded by stock analysts at Benchmark Co. from a “buy” rating to a “sell” rating in a report issued on Friday, The Fly reports. The analysts noted that the move was a valuation call….
Be careful out there.