Patriot National Inc (PN) May Be For Sale

PN issued the following which I read as just telling the public they might sell the company. This was feeling like a short term play.

(NYSE: PN) (“Patriot National” or the “Company”) formed a committee of independent directors (“Committee”) to oversee strategic value creating initiatives. The Committee continues to explore strategic alternatives for the Company to maximize value for shareholders, including a possible sale of the Company. Neither the Committee nor the Board has made a decision to enter into any transaction or other alternative at this time, and there are no assurances that the consideration of strategic alternatives will result in the Company entering into a transaction or other alternative. The Committee has not has not set a timetable for completion of the evaluation process.


I saw that as well. I wonder if it is a strategy of some kind to try to run up the share price.

I think the main purpose is to attract potential buyers to ensure competition for the best price. Should be good news for us though. However, this was not my hope for the company when I recommended it to this board. It has helped me recover from my losses that started last July and is one of my best performing stocks that fit Saul’s method of analyzing companies. Thanks again to Saul and Neil making all of us more informed investors.


I’m no expert, but personally I don’t like it; it seems like a sign of weakness. Don’t companies typically advertise themselves as being on sale when they are in trouble?


This morning Compass Point says PN could be worth $10-13 on a sale.