SNR - New Senior Investment Group: Holding Out For A Hero
New Senior Investment Group (SNR) has been an exercise in patience. While we sidestepped the bulk of the "falling knife" by staying out of the stock since August 3, 2017, we did recently make a recent entry via cash secured puts. Our rationale was:
SNR has been a painful stock to own and we are glad we avoided it after making the bodacious decision to sell at $10.20. The current price though offers an asymmetric reward if management moves to sell the portfolio. From the buyer's perspective getting a large portfolio