Is this an undervalued stock?, page-15

Fundamentally very good, 2 potential issues: liquidity for the stock and low dividends always.

These are hallmarks of very high ownership by directors (83% of RDG owned by B.O.D.), dividends CAN BE (no suggestion whatsoever that has or will happen at RDG)  diverted into board payments/rewards.... and the potential to sell shares when you wish to exit can mean you may need to take considerably less than SP when that time comes to get buyers.

There are also obvious advantages to having such high ownership levels, just putting the points forward to see what people think.