Analysts remain bullish on the Indianapolis-based email marketing firm despite its sluggish stock price, due to the company’s strong revenue and aggressive investment in research and acquisitions.
With the Dow Jones industrial average and the Standard & Poor’s 500 index hovering at or near all-time highs, one would think the stock markets would be highly receptive to initial public offerings in 2013, even if the economy disappoints.
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The marketing software maker that went public in March is ahead of its offering price even as it suffers because of some competitors’ woes.
Defying decades of investment history, ordinary Americans spooked by the Great Recession have been selling more stocks than they’ve been buying. The selling has not let up despite unprecedented measures by the Federal Reserve to persuade people to buy and the come-hither allure of a levitating market.
The Pendleton-based auto-parts manufacturer is offering 40,000 shares to employees and immediate family members to boost its number of stockholders before a broader public offering.
The stock fell more than 7 percent Tuesday after company insiders shed more than 7.5 million shares of the Indianapolis-based marketing software firm. The selloff follows the expiration Monday of the company’s lock-up agreement.
Facebook sold 421million shares to raise $16 billion, giving the company a $104 billion market value. After the debut, underwriters bought the stock to keep it from falling below the IPO price.
Investor site pans companies whose stock advanced in spite of years of losses.
Evansville-based Berry Plastics Group Inc., a container maker owned by funds affiliated with Apollo Global Management LLC, on Friday filed to sell up to $500 million of stock in an initial public offering.
Indianapolis-based ExactTarget Inc., the e-mail marketing company that counts Microsoft Corp. and Groupon Inc. as customers, gained more than 30 percent in its trading debut Thursday.
Indianapolis-based e-mail marketing company ExactTarget priced shares in its initial public offering above the expected range on Wednesday.
Indianapolis attorneys say numerous local private firms are on the IPO sidelines, mulling whether to try to capitalize on the strengthening economy and improving investor appetite for new issues.
Shares of Allison Transmission Holdings Inc. are expected to begin trading Thursday, but the early reaction to the IPO from analysts is lukewarm. The locally based company’s private-equity owners are offering 21.7 million shares for $22 to $24 apiece, which could raise as much as $522 million.
When Allison Transmission Holdings Inc. a year ago filed plans to go public, it said some of the proceeds would go toward reducing billions of dollars in debt. But, in an updated filing with the SEC, the company reversed course, saying all of the more than $500 million that’s expected to be raised would go to its private-equity owners.
Indianapolis-based ExactTarget Inc., which announced an initial public offering in November, said it is seeking to raise as much as $145 million. The company is offering 8.5 million shares for $15 to $17 apiece, according to a regulatory filing made Wednesday.
Indianapolis-based Allison Transmission Holdings Inc., the former parts unit of General Motors Co., is seeking to raise as much as $522 million for its private-equity owners in an initial public offering.
Net income of $103 million last year compares with a profit of $29.6 million in 2010 and a loss of $323.9 million in 2009, according to a document the transmission maker filed Feb. 17 with the Securities and Exchange Commission as part of its planned IPO.