Friday, September 4, 2009

Navigant director likes the shares at this level (NCI)

AlphaNinja - No link yet to the filing, but is reporting that a Navigant Consulting (NCI) director purchased 19,500 shares yesterday.

Navigant shares have been range-bound after a weak quarterly report in late July. The company also guided down, saying that the level of business has not decreased, but the length of time to capture the business has been "pushed out." Ummmm, sounds like decreased business to me.

Navigant's cash flows hugely exceed its net income, almost to the point of being too aggressive with the tax man. Anyway, what the director likes is that Navigant can potentially earn over $80million (and maybe more) in Free Cash Flow, which is better than a 12% yield on the company's market value.

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