Danier: That's A Lot Of Leather


Yesterday, Oddball Stocks had a great write-up of Danier Leather as a potential value investment. I wrote about Danier almost a year ago, but since then it has had a successful few quarters, accumulating cash while improving margins. At the same time, its price has actually fallen some 20%, making it much more attractive. If you're interested, go ahead and read the post at Oddball. The only thing I would add is that there is a dual-class share structure, and so the incentive for management may be skewed towards growing the company rather than returning the company's substantial cash hoard ($32 million in cash versus a market cap of $50 million) to shareholders.

Disclosure: No position



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