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Fly News Breaks for April 11, 2019
CTO
Apr 11, 2019 | 08:46 EDT
A big overhang on Consolidated-Tomoka Land Co. was removed yesterday by Wintergreen's exit of stock, B. Riley FBR analyst Craig Kucera tells investors in a research note. Investors have been concerned about getting involved ahead of potential "slow bleed" of Wintergreen's 29% ownership, but a block sale was executed in which Consolidated-Tomoka bought 21% of Wintergreen's position at $57.37 per share, adds the analyst. Kucera raised his 2019 earnings per share estimate to $8.09 from $7.13 and keeps a Buy rating on the name with an $82 price target.
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