Sign in

    Michael Melby

    Research Analyst at Gate City Capital Management

    Michael Melby is the Founder and Portfolio Manager at Gate City Capital Management, specializing in micro-cap value investing with a focus on companies based in the U.S. and Canada. He has covered firms such as Alico and manages a concentrated portfolio that has generated a 22.4% net annualized return since inception in September 2011, significantly outperforming the S&P 500's 14.8% return. Melby's career began at Deutsche Bank Securities and the University of Notre Dame Investment Office before his analyst roles at Coghill Capital Management and Crystal Rock Capital Management led to founding Gate City Capital in 2014. He holds an MBA with Honors from the University of Chicago Booth School of Business, a BBA Summa Cum Laude from the University of Notre Dame, is a CFA Charterholder, and has earned the Financial Risk Manager designation.

    Michael Melby's questions to DAWSON GEOPHYSICAL (DWSN) leadership

    Michael Melby's questions to DAWSON GEOPHYSICAL (DWSN) leadership • Q1 2021

    Question

    Michael Melby of Gate City Capital Management reiterated a desire to see management increase its ownership stake and then asked specifically about conversations with multi-client customers and what catalysts are needed for them to become more active.

    Answer

    Stephen Jumper, Chairman, President & CEO, explained that multi-client companies are facing the same constraints as Dawson, as they rely on funding and underwriting from E&P companies. With E&P capital spending currently light, the underwriting levels for new multi-client projects are low, causing delays. He stated that a project might be just a signature or two away, but the current environment makes it difficult for multi-client firms to commit their own capital without sufficient external funding.

    Ask Fintool Equity Research AI