Gander Mountain Company (GMTN)

1927Trimotor (< 20) Submitted: 5/7/2009 10:11:38 AM : Start Price: $4.65 GMTN Score: -13.13

About 100% of the readily tradeable float is short. Run the numbers yourself. Take out insiders and institutions and you have roughlt 2,500,000 shares WHICH IS ALSO the short position as of last report. With a stock that trades only 10-20,000 shares a day there is simply not enough liquidity to effeciently cover (remember most of the reported trading volume is double counted)!

bjam3b1g (76.35) Submitted: 4/28/2008 8:41:10 AM : Start Price: $5.29 GMTN Score: +12.97

Just check their stores if they start back shipping orders lookout Cabela and Bass Pro

esa430 (< 20) Submitted: 12/23/2007 4:04:19 PM : Start Price: $5.40 GMTN Score: +15.59

Multiple insiders have purchased over 70 million dollars worth of the stock in December. I would hope they are not all that risky or stupid.

mnowak94 (< 20) Submitted: 9/5/2007 9:13:15 AM : Start Price: $7.69 GMTN Score: +12.97

Gander Mountain doesn't have a competitive advantage over all competitors. While local stores are more convenient than Cabela's or Bass Pro Shops, their customer service doesn't compare and commonly has identical pricing. Dick's Sporting Goods or smaller sporting goods stores offers the convenience of local stores in many markets, and commonly delivers somewhat better prices and/or service.

Gander Mountain stores have some uncommon products & services, such as gunsmithing, bow pro shop & indoor range, ATV sales, etc. However, when I do go to a Gander Mountain store, I don't see a tremendous volume of sales activity in these departments. I just don't see these departments radically influencing the bottom line.

Bottom line is that I personally find few compelling reasons to shop at Gander Mountain, and believe this tends to be reflected in the general public as well. Given that Bass Pro Shops continues to expand in many of the same areas, I think Gander Mountain will continue to be less compelling. All this adds up to declining sales relative to competitors and poor performance.

carpedinero1 (< 20) Submitted: 8/23/2007 6:04:46 PM : Start Price: $7.99 GMTN Score: -16.31

growth firmly in place larger foramt stores doinf well. Expansion into boats a plus margins increased 4q's in a row Inflection point reached. Stock irrationally savaged on news of secondary offering by insiders

m78jordan (< 20) Submitted: 8/1/2007 11:07:00 AM : Start Price: $9.86 GMTN Score: +28.89

The hunting fishing store model is broken. Due to current credit markets, there is to sale in the immediate future.

gopirque (66.40) Submitted: 7/22/2007 4:39:59 PM : Start Price: $11.86 GMTN Score: -32.72

Well, I'm going to make a gutsy call.

1) Gander Mountain's financials aren't really the best. They've reduced long-term debt but are still struggling with their current liabilities.

2) Bass Pro and Cabelas do have the majority of the market share, and are mega players with customer service, store features, and catalog orders.

3) Gander Mountain has been out of the loop for over 10 years, can they really come back?

**I think they can. I remember 10 years ago when we received our last Gander Mtn catalog, it was a sad day. Why? Because Cabelas and Bass Pro always had higher prices. Sure, we enjoyed looking at the other catalogs, but we bought from Gander Mtn.
Also, Gander Mtn has pretty good locations for its current stores. If they focus on expanding the same size and style and don't try to compete with Cabelas, then they will be able to capitalize on Cabelas weakness. Think about it: people visit these megastores from across the country, only to return and not have something close to them...enter Gander Mtn with their smaller but functional retail stores and Gander Mtn is back in the game.
The right to sell from catalog and the web is huge, and if Cabelas doesn't appeal, I see Gander Mtn fitting back in nicely. By-the-way, with this kind of potential to hurt the Big 2, can anyone spell a-c-q-u-i-s-i-t-i-o-n (it took me 3 tries to do that).

xdogg (< 20) Submitted: 5/10/2007 6:48:03 PM : Start Price: $14.88 GMTN Score: +43.79

I just can't see this being a long term winner.

sdcs2005 (28.61) Submitted: 4/12/2007 11:21:57 PM : Start Price: $12.17 GMTN Score: +38.92

Stock overbought. Fundimentals suck. Overinvestment in markets where there is no brand recognition. Only strategy is spread fixed cost over more stores.

Doughboy33 (97.06) Submitted: 2/27/2007 11:20:30 PM : Start Price: $10.03 GMTN Score: -33.08

New Chairman injecting growth capital, square footage growth + $/square foot growth + incremental margins as economies build. Small share base, underappreciated earnings leverage and discounted valuation.

TMFMattyA (93.84) Submitted: 2/26/2007 3:04:49 PM : Start Price: $11.09 GMTN Score: +35.10

My only concern here is the already high level of short interest, which will probably provide short-term support to the stock; other than that, we're dealing with a weak player in a highly-competitive industry (retail sports equipment/gear) with a substantial debt-load and negligible free cash-flows; unless management can significantly reduce costs and drive revenue growth at existing stores, this company is headed down a perilous path.

Fuzzy7466 (51.53) Submitted: 1/17/2007 3:02:38 PM : Start Price: $9.11 GMTN Score: -26.54

Small company positioned to grow quickly. Large insider ownership. Expanding rapidly with superior products.

Risks include competition from large sources.

buckmacon (51.43) Submitted: 12/2/2006 6:26:27 PM : Start Price: $8.16 GMTN Score: -21.78

Popular niche products, strategic retail store buildout.

hiddenflem (24.49) Submitted: 11/22/2006 2:38:44 PM : Start Price: $8.75 GMTN Score: +25.52

thanks to BBQ for this idea

AussieSniper (< 20) Submitted: 11/17/2006 10:07:25 AM : Start Price: $9.07 GMTN Score: +28.25

Poor fundamentals