Two Ideas from Insider Micro Cap Value Buying for the Week Ending 04/22/16

The form 4 insider filings filtered down by excluding short % float >1%, no identifiable micro cap value institutions, price > .25, Market capitalization less than 250M, exclude industries in finance, biomedical

Only two ideas out of over 100 form 4 filings.  ; CWGL, CDNA

Crimson Wine Group, Ltd. (CWGL) "together with its subsidiaries produces & markets wines. It has vineyards in the Napa Valley, Edna Valley in California, Sonoma County, the Willamette Valley in Oregon & Horse Heaven Hills in Washington." Morningstar

Crimson is a stock if after additional research accumulate patiently and wait.

Relatively small insider buying for the week ending 04/22/15.Strong value institutional ownership from Michael Price, Tenton Mighty Mites, Gamco, Perritt.Price reported adding shares at higher market price for the quarter ending 12/31/15

Positives: Diverse group of successful micro cap value institutions purchasing shares greater than current market price. Positive insider buying during 2016 and 2015.High Piotroski F Score of 7.
Revenue per share growth, 5 year annual per share revenue growth rate 18.80%, one year 4.90%.
Per share value improvements for metrics in table below, EBIT, BV, EBITDA.


Gross margins out performing its relative and historical returns, 2010 = 38.48%, 2012 = 49.39%,TTM = 53.25%.
Stable share count 2011 24.46M shares outstanding TTM = 24.23M

Financially sound based on Z score, Sloan and Bennish ratio.
Insider ownership is 31.20%

Market Cap: 208.38M ,Enterprise Value:     182.02M
Price/Sales (ttm):      3.45 , Price/Book (mrq):       1.01
Enterprise Value/Revenue (ttm):        3.02 , Enterprise Value/EBITDA (ttm): 11.87
Profit Margin (ttm):    6.91% , Operating Margin (ttm): 13.22%
Revenue (ttm):  60.23M
Gross Profit (ttm):     32.53M , EBITDA (ttm):  15.34M
Total Cash (mrq):       27.64M , Total Cash Per Share (mrq):     1.13
Total Debt (mrq):       0.00
Current Ratio (mrq):    6.60 , Book Value Per Share (mrq):     8.43
Operating Cash Flow (ttm):      7.74M
52-Week Change3:        -7.03%
52-Week High (May 8, 2015)3:    9.80 , 52-Week Low (Feb 17, 2016)3:    7.58
Shares Outstanding:    24.23M , Float:  19.69M
% Held by Insiders:    31.12% , % Held by Institutions1:        20.20%

CareDx, Inc (CDNA) " is a commercial stage company. The Company develops, markets and delivers a diagnostic surveillance solution for heart transplant recipients to help clinicians make personalized treatment decisions throughout a transplant patient's lifetime."

Market Cap : 58.30M , Enterprise Value :  33.85M
Price/Sales (ttm):  1.82 , Price/Book (mrq): 1.58
Enterprise Value/Revenue (ttm):  1.15
Revenue (ttm):  29.45M ,Revenue Per Share (ttm):        2.49
Qtrly Revenue Growth (yoy):     7.50% , Gross Profit (ttm):     17.87M
EBITDA (ttm):  -6.73M
Total Cash (mrq):       33.95M , Total Cash Per Share (mrq):     2.85
Total Debt (mrq):       15.80M ,Total Debt/Equity (mrq):        46.59
Current Ratio (mrq):    3.63 , Book Value Per Share (mrq):     2.85
Operating Cash Flow (ttm):      -6.50M , Levered Free Cash Flow (ttm):   -4.24M
52-Week Change:        -16.12%
52-Week High (Jul 13, 2015)3:   8.00
52-Week Low (Sep 29, 2015)3:    3.70
Shares Outstanding:    13.34M , Float:  5.70M
% Held by Insiders:    34.40% , % Held by Institutions:        39.90%
Short % of Float (as of Mar 31, 2016): 0.57%

Royce, Tenton were adding shares for the quarter reported 12/31/15. GABELLI also owns shares.

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