Tag: StoneMor Partners

Public funeral home companies and 2019
Finance

Public funeral home companies and 2019

I will preface this article to say that it is being written on Friday, January 10.  Because of that all prices quoted come from the end of the day on Thursday, January 9.  I will also say I am not a stock security analyst and all opinions are mine alone.  Finally, I do own stock positions in Service Corporation International and Park Lawn Corporation. With that said, I thought it might be fun to compare what these public funeral home […]

Carriage Services acquisitions, hiring. . and other news
Finance

Carriage Services acquisitions, hiring. . and other news

Last week public funeral home operating company Carriage Services was really in the news.  They not only announced the acquisitions of the Fairfax Memorial Park and Funeral Home in the Washington, DC area, but they announced the purchase from StoneMor Partners of the funeral home/cemetery combination facility Oakmont Memorial Funeral Home and Cemetery in Northern California They also announced the addition of a new President/COO to their corporate family as well. StoneMor Partner’s press release mentioned the price of the […]

StoneMor announces California combo sale
Finance

StoneMor announces California combo sale

We said almost two years ago that the best way for funeral home and cemetery operator StoneMor Partners L.P. to right their ship was to divest themselves of some properties and use the cash proceeds to pay down debt so that they can get to a position where they are operating in a financial positive manner. Yesterday they made an official announcement of what many of us expected to be coming.  StoneMor Partners L.P. announced the agreement to sell the […]

Corporate News
Finance

Corporate News

This afternoon we will bring you a couple of items that recently appeared in print publications about public companies in the death care business. From the Philadelphia Business Journal we bring you this article on StoneMor Partners.  It is entitled, “StoneMor slims down executive ranks, plans divestitures for bid for profitability”.  We believe it is a good article that highlights what has dogged StoneMor Partners for the past decade and what new management is doing to try to become profitable. From […]

StoneMor Partners reports 3rd Quarter
Finance

StoneMor Partners reports 3rd Quarter

StoneMor Partners L.P. reported their 3rd Quarter and 9-month 2019 numbers last week and with it showed significant progress in their attempt at a transformational turnaround of the company.  In brief, StoneMor reported that revenues are stabilizing, that they are cutting recurring expenses, and that they have made progress on a divestiture process that will, more than likely, make their company smaller and more focused. You can see a copy of the report here. From the operations side of the […]

Axar Capital purchases additional StoneMor stock
Finance

Axar Capital purchases additional StoneMor stock

  According to this article and also verified on E-Trade, Axar Capital Management L.P. purchased 3,925,660 shares of StoneMor Partners L.P. stock on Wednesday, October 30, at an average share price of $1.00 per share.  That share price indicated the 52-week low for the stock which had traded as high as $5.01 just over a year ago on November 2, 2018. The purchase by Axar Capital Management L.P. increased their holding in StoneMor Partners L.P. to 11,674,095 shares of the […]

Death Care investments have been good in 2019
Finance

Death Care investments have been good in 2019

Funeral Director Daily tracks its proprietary Death Care Index or DCI periodically.  The DCI is a group of eight publicly traded company stocks that each have some skin in the death care industry or profession.  They range from companies involved in death care services to companies who manufacture things like crematories, to companies involved in the sale of preneed funeral insurance. The eight companies that compose the DCI include Service Corporation International (SCI), Carriage Services, Park Lawn Corporation, Hillenbrand Industries, […]

StoneMor keeps moving towards turnaround
Finance

StoneMor keeps moving towards turnaround

StoneMor Partners, L.P. issued a press release the other day expressing some of the movements they are making as they execute their self-termed “turnaround” of the company.  As you may know, StoneMor Partners operates 321 cemeteries and 90 funeral homes and has incurred several consecutive quarters of losses in their operation.  You can read their press release here: In essence, here are some of their moves as they continue to execute their plan to bring the company back to business […]

Public company notes. . .StoneMor, Park Lawn
Finance

Public company notes. . .StoneMor, Park Lawn

We noticed a couple of articles in the news or opinion sections today about death care public companies StoneMor Partners and Park Lawn Corporation and just thought we would pass them on. StoneMor Partners to eliminate 340 positions.  This article points out that StoneMor Partners will be targeting 340 positions as it attempts to eliminate $30 million of annual costs in addition to the $20 million the article says it has already weeded out of operations.  We point out that […]

Cemeteries, Crematories, and their issues
Business Regulations

Cemeteries, Crematories, and their issues

Just about every day when we peruse articles to opine on we can find articles that pertain to cemeteries and crematories and the problems they seem to cause to just everyday people.  You might argue that some of these issues are pretty petty and could be easily fixed, however, to the consumers they bother they are big issues. When these types of issues happened to us, which fortunately was not very often, we always tried to reason with the customer […]