Tag: Axar Capital

Finance

StoneMor continues transformation according to 3Q results, comments on expected growth mode

StoneMor Inc., the Pennsylvania cemetery/funeral home consolidator and operator reported their 3rd Quarter results for 2021 earlier this week.  In a prepared statement, company CEO Joe Redling stated, “The third quarter continued to build on the positive performance trends of the past year and half, with top-line revenue growth of 13.2% and 19.2% for the three and nine months ended September 30, 2021, respectively, when compared with the same periods in 2020.” Here are some of those positive results as […]

Finance

StoneMor Board, Axar Capital allegedly sued over 2020 buyout proposal

From my point of view, the new management and leadership team at StoneMor, Inc. has been executing with all the right decisions to get the Pennsylvania funeral home and cemetery based operator moving forward in a profitable direction.  They have made tough decisions in contracting out cemetery labor, removing it from a direct employee relationship to save money.  They have divested selective funeral homes, mostly on the United States west coast, to bring in capital and pay down debt with […]

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 […]