Tag: stonemor

Afternoon Edition

StoneMor acquires four cemeteries

In what may be an indicating sign that StoneMor Inc. is beginning to come out of its realignment phase, it was announced yesterday that the Pennsylvania based consolidator and operator of cemeteries and funeral homes has acquired four cemeteries. This press release indicates that the four properties are all located within the Eastern geographic footprint of StoneMor Inc. and that the purchase price was $5,395,000.  Here’s what StoneMor Inc. CEO Joe Redling had to say about the acquisitions, “We are […]

Finance

Checking in on the DCI. . . up over 10% year to date

The last time we checked in on Funeral Director Daily’s proprietary Death Care Index (DCI) was in this article from January 4, 2021.  At that time we noted that the stock index of companies in the death care realm had a total return (capital appreciation plus dividend) of about 6.85% for the calendar year of 2020.  We mentioned that was not as high as the returns of the NASDAQ index or the S&P 500, but it was a solid “grind […]

Finance

2020: A look back at the public companies

There are a lot of reasons that people may look to get the year 2020 in their rearview mirror.  However, when you look individually at the performance of the public companies in the death care realm for the calendar year, my guess is that almost all of them would be happy to repeat the year’s performance in 2021. The trend among the public companies in 2020 could certainly be classified as COVID, leadership, and lawsuits.  And, who would have thought […]

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

Death Care Index still lags the market

We checked into Funeral Director Daily’s proprietary Death Care Index (DCI) after the markets closed on Monday, the last day of November.  That check-in allowed us to take a look at the eight stocks that make up the DCI and see where they were individually and as a group and how that group compared to the Dow Jones average, the S & P 500, and the technology based Nasdaq. And, while the Dow Jones counted November 2020 as its best […]

Finance

StoneMor reports 3rd Quarter: Turnaround continues to move forward

A couple of years ago I looked at StoneMor and their operations and told readers that they should, if they had a StoneMor competitor in their market, look at a possible acquisition of that competitor.  Quite frankly, I was of the opinion that the way StoneMor was moving would probably lead to a liquidation and some of those businesses might be able to be purchased at the right price. However, while there has been some pain and some selected liquidation […]

Finance

StoneMor announces sale of West Coast locations

We learned today that a rumored divesture of West Coast assets of StoneMor Inc. has indeed been negotiated and an asset purchase agreement has been signed. This press release from Globe Newswire indicates that StoneMor Inc. has sold all of their properties in Oregon and Washington to an entity known as Clearstone Memorial Partners, LLC.  According to this map of StoneMor properties from their website, the arrangement would look to be for approximately 19 cemetery and funeral home properties, if […]

Finance

Zacks looks at the funeral industry, an update on the DCI

Last week Vrishali Bagree of Zacks presented an article that appeared on Nasdaq.com.  It was entitled “Rising demand keeps funeral industry going:  Four stocks to watch”.  You can read that article here. In essence the article tells that the Zacks Funeral Services industry is housed within the broader Zacks Consumer Staples sector.  According to the article, Zacks ranks 250 different industries and the Funeral Service industry ranks quite high at #25. Zacks also says this about the Funeral Services industry,  […]

Afternoon Edition

Axar Capital pulls back bid to take StoneMor Inc. private

In this public relations release from Globe Newswire you can read that Axar Capital Management has withdrawn its proposal to acquire all of the outstanding shares of StoneMor Inc. and take the company private. In the press release, StoneMor made this announcement by Stephen J. Negrotti, Chair of a special committee to evaluate the Axar proposal, “We have worked closely with Axar over the last six weeks to evaluate its most recent proposal. We have consulted with our financial and […]

Finance

StoneMor, Inc. reports 2nd Quarter 2020. . comment on going private emerges

When Joe Redling was appointed CEO of StoneMor, Inc. the company was in fast decline, revenues were washing away, and losses were mounting.  That was June of 2018, only two years ago, and now, although far from being in the clear and a profit machine, there is hope at the end of the tunnel. StoneMor, Inc. reported its 2nd Quarter 2020 financial results last week and the comparable revenues for businesses operations have pretty much leveled off from a downward […]