- In its prelim results for quarter ended June 30, 2022, 180 Degree Capital ( NASDAQ: TURN ) expects NAV/share to drop by 14.5-15.0% to ~$8.30-8.35/share from Q1 NAV of $9.81/share; it is less than the 19% of the decline of the Russell Microcap Index.
- "We purposefully kept our cash balances elevated, and the preliminary decline of our legacy private holdings was approximately 3.3%. We have made material progress in the transformation of 180 towards having a more transparent balance sheet, comprised primarily of public and related securities and cash, and these assets ended the quarter at $62.7M, or $6.04/share," CEO Kevin Rendino commented.
- Q2 earnings are scheduled for Aug.9 release.
For further details see:
180 Degree Capital estimates Q2 NAV to decline