Monthly Index July 2016

      Released Date       July July
    Research (Price dt is  6-12 Mth Jun-16 Jul-16 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11 $ 30.00 $ 21.89 $ 25.71 17.45% 5.90%
Acme United Corp. ACU Buy 09/29/04 $ 21.00 $ 18.30 $ 21.66 18.36% 5.90%
A-Mark Precious Metals AMRK Buy 12/28/15 $ 25.00 $ 16.18 $ 17.06 5.44% 5.90%
Anika Therapeutics ANIK Buy 06/27/12 $ 60.00 $ 53.65 $ 49.92 -6.95% 5.90%
Avid Technology AVID Buy 12/23/15 $ 8.50 $ 5.81 $ 6.51 12.05% 5.90%
Balchem BCPC Buy 04/01/15 $ 72.00 $ 59.65 $ 63.87 7.07% 5.90%
Banco Latinamericano de Exportaciones BLX Buy 04/03/08 $ 32.00 $ 26.50 $ 27.32 3.09% 5.90%
Cambrex CBM Drop 05/29/15 $ 60.00 $ 51.73 $ 56.23 8.70% 5.03%
Century Casinos CNTY Buy 11/24/15 $ 9.25 $ 6.23 $ 6.38 2.41% 5.90%
Cooper-Standard CPS Buy 07/13/15 $ 91.00 $ 78.99 $ 88.05 11.47% 5.90%
Core Molding Technologies CMT Drop 12/08/14 $ 16.00 $ 13.65 $ 15.76 15.46% 5.03%
CTRP.com CTRP SELL 02/01/16 $ 27.50 $ 41.20 $ 43.67 -6.00% 5.90%
Emergent BioSolutions EBS Buy 03/28/16 $ 44.00 $ 28.12 $ 33.39 18.74% 5.90%
Encore Wire  WIRE Buy 03/28/16 $ 47.00 $ 37.28 $ 37.53 0.67% 5.90%
GoDaddy GDDY SELL 04/05/16 $ 21.50 $ 31.19 $ 29.92 4.07% 5.90%
Gray Television GTN Buy 12/07/15 $ 22.00 $ 10.85 $ 9.90 -8.76% 5.90%
Harte-Hanks HHS Buy 12/08/15 $ 3.80 $ 1.59 $ 1.66 4.40% 5.90%
Haynes International HAYN Buy 09/29/15 $ 39.00 $ 32.08 $ 37.98 18.39% 5.90%
Innospec IOSP Buy 04/30/15 $ 60.00 $ 45.99 $ 50.27 9.31% 5.90%
IntelGenx IGXT Buy 04/15/15 $ 0.80 $ 0.50 $ 0.52 4.00% 5.90%
INTL FCStone INTL Buy 05/27/11 $ 36.00 $ 27.29 $ 29.14 6.78% 5.90%
IRIDEX Corp. IRIX Buy 01/26/16 $ 11.50 $ 14.79 $ 16.21 9.60% 5.90%
JMP Group JMP Buy 12/08/14 $ 8.00 $ 5.43 $ 5.42 -0.18% 5.90%
Kulicke & Soffa KLIC Buy 07/09/15 $ 15.50 $ 12.17 $ 12.56 3.20% 5.90%
Lakeland LAKE Buy 02/09/16 $ 16.50 $ 8.67 $ 10.14 16.96% 5.90%
Magic Software MGIC Buy 04/28/15 $ 13.50 $ 6.63 $ 7.41 11.76% 5.90%
Mulit-Color LABL Buy 07/30/13 $ 67.00 $ 63.40 $ 64.58 1.86% 5.90%
Newtek Business Services  NEWT Buy 03/27/13 $ 16.00 $ 12.72 $ 13.05 2.59% 5.90%
Nova Measuring Instruments NVMI Buy 05/09/12 $ 16.00 $ 10.94 $ 11.27 3.02% 5.90%
Salem Communications SALM Buy 02/24/14 $ 8.00 $ 7.22 $ 7.57 4.85% 5.90%
Seabridge Gold SA Buy 07/21/09 $ 16.00 $ 14.56 $ 13.37 -8.17% 5.90%
Stamps.com STMP Buy 10/19/15 $ 115.00 $ 87.42 $ 75.81 -13.28% 5.90%
StealthGass GASS Buy 04/29/16 $ 7.00 $ 3.78 $ 3.56 -5.82% 5.90%
Trecora TREC Buy 09/01/11 $ 18.00 $ 10.43 $ 11.43 9.59% 5.90%
VASCO Data VDSI Buy 05/28/15 $ 25.00 $ 16.39 $ 16.71 1.95% 5.90%
Total (Average)             5.26% 5.85%
     
January Performance -10.23% -8.85%
February Performance 3.50% -0.14%
March Performance 3.14% 7.62%
April Performance 1.49% 1.51%
May Performance -0.70% 2.12%
June Performance 0.37% -0.25%
July Performance 5.26% 5.90%
August Performance
September Performance
October Performance
November Performance
December Performance
Year to Date Performance 2.03% 7.40%
(1) Adjusted for dividends

Monthly Index June 2016

Released Date June June
Research (Price dt is  6-12 Mth May-16 Jun-16 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11 $ 30.00 $ 22.31 $ 21.89 -1.88% -0.25%
Acme United Corp. ACU Buy 09/29/04 $ 21.00 $ 18.06 $ 18.30 1.33% -0.25%
A-Mark Precious Metals AMRK Buy 12/28/15 $ 25.00 $ 15.98 $ 16.18 1.25% -0.25%
Anika Therapeutics ANIK Buy 06/27/12 $ 60.00 $ 47.32 $ 53.65 13.38% -0.25%
Avid Technology AVID Buy 12/23/15 $ 8.50 $ 5.95 $ 5.81 -2.35% -0.25%
Balchem BCPC Buy 04/01/15 $ 72.00 $ 59.95 $ 59.65 -0.50% -0.25%
Banco Latinamericano de Exportaciones BLX Buy 04/03/08 $ 32.00 $ 26.68 $ 26.50 -0.67% -0.25%
Cambrex CBM Buy 05/29/15 $ 60.00 $ 48.91 $ 51.73 5.77% -0.25%
Century Casinos CNTY Buy 11/24/15 $ 9.25 $ 5.70 $ 6.23 9.30% -0.25%
Cooper-Standard CPS Buy 07/13/15 $ 91.00 $ 85.95 $ 78.99 -8.10% -0.25%
Core Molding Technologies CMT Buy 12/08/14 $ 16.00 $ 12.61 $ 13.65 8.25% -0.25%
CTRP.com CTRP SELL 02/01/16 $ 27.50 $ 45.76 $ 41.20 9.97% -0.25%
Emergent BioSolutions EBS Buy 03/28/16 $ 44.00 $ 43.88 $ 28.12 -35.92% -0.25%
Encore Wire WIRE Buy 03/28/16 $ 47.00 $ 38.99 $ 37.28 -4.39% -0.25%
GoDaddy GDDY SELL 04/05/16 $ 21.50 $ 32.52 $ 31.19 4.09% -0.25%
Gray Television GTN Buy 12/07/15 $ 22.00 $ 11.82 $ 10.85 -8.21% -0.25%
Harte-Hanks HHS Buy 12/08/15 $ 3.80 $ 0.99 $ 1.59 60.61% -0.25%
Haynes International HAYN Buy 09/29/15 $ 39.00 $ 28.82 $ 32.08 11.31% -0.25%
Innospec IOSP Buy 04/30/15 $ 60.00 $ 48.56 $ 45.99 -5.29% -0.25%
IntelGenx IGXT Buy 04/15/15 $ 0.80 $ 0.54 $ 0.50 -7.41% -0.25%
INTL FCStone INTL Buy 05/27/11 $ 36.00 $ 27.89 $ 27.29 -2.15% -0.25%
IRIDEX Corp. IRIX Buy 01/26/16 $ 11.50 $ 13.80 $ 14.79 7.17% -0.25%
JMP Group JMP Buy 12/08/14 $ 8.00 $ 5.40 $ 5.43 0.56% -0.25%
Kulicke & Soffa KLIC Buy 07/09/15 $ 15.50 $ 12.49 $ 12.17 -2.56% -0.25%
Lakeland LAKE Buy 02/09/16 $ 16.50 $ 8.82 $ 8.67 -1.70% -0.25%
Magic Software MGIC Buy 04/28/15 $ 13.50 $ 6.93 $ 6.63 -4.33% -0.25%
Mulit-Color LABL Buy 07/30/13 $ 67.00 $ 62.35 $ 63.40 1.68% -0.25%
Newtek Business Services NEWT Buy 03/27/13 $ 16.00 $ 13.08 $ 12.72 -2.75% -0.25%
Nova Measuring Instruments NVMI Buy 05/09/12 $ 16.00 $ 11.86 $ 10.94 -7.76% -0.25%
Reed’s REED Drop 10/23/13 $ 9.50 $ 3.34 $ 2.56 -23.35% 0.25%
Salem Communications SALM Buy 02/24/14 $ 8.00 $ 6.61 $ 7.22 9.23% -0.25%
Seabridge Gold SA Buy 07/21/09 $ 16.00 $ 12.12 $ 14.56 20.13% -0.25%
Stamps.com STMP Buy 10/19/15 $  115.00 $ 90.99 $ 87.42 -3.92% -0.25%
StealthGass GASS Buy 04/29/16 $ 7.00 $ 4.69 $ 3.78 -19.40% -0.25%
Trecora TREC Buy 09/01/11 $ 18.00 $ 11.25 $ 10.43 -7.29% -0.25%
VASCO Data VDSI Buy 05/28/15 $ 25.00 $ 16.53 $ 16.39 -0.85% -0.25%
Total (Average) 0.37% -0.23%
     
January Performance -10.23% -8.85%
February Performance 3.50% -0.14%
March Performance 3.14% 7.62%
April Performance 1.49% 1.51%
May Performance -0.70% 2.12%
June Performance 0.37% -0.25%
July Performance
August Performance
September Performance
October Performance
November Performance
December Performance
Year to Date Performance -3.07% 1.41%
(1) Adjusted for dividends

Monthly Index May 2016

Released Date May May
Research (Price dt is  6-12 Mth Apr-16 May-16 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11 $ 30.00 $ 22.43 $ 22.31 -0.53% 2.12%
Acme United Corp. ACU Buy 09/29/04 $ 21.00 $ 16.78 $ 18.06 7.63% 2.12%
A-Mark Precious Metals AMRK Buy 12/28/15 $ 25.00 $ 20.48 $ 15.98 -21.97% 2.12%
Anika Therapeutics ANIK Buy 06/27/12 $ 60.00 $ 45.66 $ 47.32 3.64% 2.12%
Astro-Med Inc. ALOT Drop 06/08/15 $ 23.00 $ 14.35 $ 14.71 2.51% 1.73%
Atlas Financial AFH Drop 10/24/13 $ 24.00 $ 17.57 $ 18.13 3.19% -2.51%
Avid Technology AVID Buy 12/23/15 $ 8.50 $ 5.58 $ 5.95 6.63% 2.12%
Balchem BCPC Buy 04/01/15 $ 72.00 $ 61.36 $ 59.95 -2.30% 2.12%
Banco Latinamericano de Exportaciones BLX Buy 04/03/08 $ 32.00 $ 25.86 $ 26.68 3.17% 2.12%
Cambrex CBM Buy 05/29/15 $ 60.00 $ 48.24 $ 48.91 1.39% 2.12%
Century Casinos CNTY Buy 11/24/15 $ 9.25 $ 5.97 $ 5.70 -4.52% 2.12%
Cooper-Standard CPS Buy 07/13/15 $ 91.00 $ 77.11 $ 85.95 11.46% 2.12%
Core Molding Technologies CMT Buy 12/08/14 $ 16.00 $ 11.73 $ 12.61 7.50% 2.12%
CTRP.com CTRP SELL 02/01/16 $ 27.50 $ 43.61 $ 45.76 -4.93% 2.12%
Emergent BioSolutions EBS Buy 03/28/16 $ 44.00 $ 38.52 $ 43.88 13.91% 2.12%
Encore Wire WIRE Buy 03/28/16 $ 47.00 $ 38.61 $ 38.99 0.98% 0.38%
Flexsteel FLXS Drop 01/17/14 $ 50.00 $ 40.89 $ 42.08 2.91% 1.73%
GoDaddy GDDY SELL 04/05/16 $ 21.50 $ 30.37 $ 32.52 -7.08% 2.12%
Gray Television GTN Buy 12/07/15 $ 22.00 $ 12.85 $ 11.82 -8.02% 2.12%
Harte-Hanks HHS Buy 12/08/15 $ 5.00 $ 1.82 $ 0.99 -45.60% 2.12%
Haynes International HAYN Buy 09/29/15 $ 39.00 $ 37.53 $ 28.82 -23.21% 2.12%
Innospec IOSP Buy 04/30/15 $ 60.00 $ 48.36 $ 48.56 0.41% 2.12%
IntelGenx IGXT Buy 04/15/15 $ 0.80 $ 0.59 $ 0.54 -8.47% 2.12%
INTL FCStone INTL Buy 05/27/11 $ 36.00 $ 27.30 $ 27.89 2.16% 2.12%
IRIDEX Corp. IRIX Buy 01/26/16 $ 11.50 $ 11.45 $ 13.80 20.52% 2.12%
JMP Group JMP Buy 12/08/14 $ 8.00 $ 5.15 $ 5.40 4.85% 2.12%
Kulicke & Soffa KLIC Buy 07/09/15 $ 15.50 $ 10.72 $ 12.49 16.51% 2.12%
Lakeland LAKE Buy 02/09/16 $ 16.50 $ 8.69 $ 8.82 1.50% 2.12%
Magic Software MGIC Buy 04/28/15 $ 13.50 $ 6.68 $ 6.93 3.74% 2.12%
Mulit-Color LABL Buy 07/30/13 $ 67.00 $ 59.83 $ 62.35 4.21% 2.12%
Newtek Business Services NEWT Buy 03/27/13 $ 16.00 $ 12.69 $ 13.08 3.07% 2.12%
Nova Measuring Instruments NVMI Buy 05/09/12 $ 16.00 $ 11.05 $ 11.86 7.33% 2.12%
Reed’s REED Buy 10/23/13 $ 9.50 $ 4.51 $ 3.34 -25.94% 2.12%
Salem Communications SALM Buy 02/24/14 $ 8.00 $ 7.77 $ 6.61 -14.93% 2.12%
Seabridge Gold SA Buy 07/21/09 $ 16.00 $ 13.96 $ 12.12 -13.18% 2.12%
Stamps.com STMP Buy 10/19/15 $ 115.00 $ 82.36 $ 90.99 10.48% 2.12%
StealthGass GASS Buy 04/29/16 $ 7.00 $ 3.91 $ 4.69 19.95% 2.12%
Trecora TREC Buy 09/01/11 $ 18.00 $ 11.45 $ 11.25 -1.75% 2.12%
VASCO Data VDSI Buy 05/28/15 $ 25.00 $ 17.33 $ 16.53 -4.62% 2.12%
Total (Average) -0.70% 1.93%
January Performance -10.23% -8.85%
February Performance 3.50% -0.14%
March Performance 3.14% 7.62%
April Performance 1.49% 1.51%
May Performance -0.70% 2.12%
June Performance
July Performance
August Performance
September Performance
October Performance
November Performance
December Performance
Year to Date Performance -3.42% 1.67%
(1) Adjusted for dividends

Monthly Index April 2016

Released Date April April
Research (Price dt is  6-12 Mth Mar-16 Apr-16 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11 $ 30.00 $ 23.56 $ 22.43 -4.80% 1.51%
Acme United Corp. ACU Buy 09/29/04 $ 21.00 $ 16.34 $ 16.78 2.69% 1.51%
A-Mark Precious Metals AMRK Buy 12/28/15 $ 25.00 $ 19.90 $ 20.48 2.91% 1.51%
Anika Therapeutics ANIK Buy 06/27/12 $ 60.00 $ 44.72 $ 45.66 2.10% 1.51%
Astro-Med Inc. ALOT Buy 06/08/15 $ 23.00 $ 13.86 $ 14.35 3.54% 1.51%
Atlas Financial AFH Buy 10/24/13 $ 24.00 $ 18.14 $ 17.57 -3.14% 1.51%
Avid Technology AVID Buy 12/23/15 $ 8.50 $ 6.76 $ 5.58 -17.46% 1.51%
Balchem BCPC Buy 04/01/15 $ 72.00 $ 62.02 $ 61.36 -1.06% 1.51%
Banco Latinamericano de Exportaciones BLX Buy 04/03/08 $ 32.00 $ 24.22 $ 25.86 6.77% 1.51%
Cambrex CBM Buy 05/29/15 $ 60.00 $ 44.00 $ 48.24 9.64% 1.51%
Century Casinos CNTY Buy 11/24/15 $ 9.25 $ 6.16 $ 5.97 -3.08% 1.51%
Cooper-Standard CPS Buy 07/13/15 $ 91.00 $ 71.84 $ 77.11 7.34% 1.51%
Core Molding Technologies CMT Buy 12/08/14 $ 16.00 $ 12.48 $ 11.73 -6.01% 1.51%
CTRP.com CTRP SELL 02/01/16 $ 27.50 $ 44.26 $ 43.61 1.47% 1.51%
Emergent BioSolutions EBS Buy 03/28/16 $ 44.00 $ 36.35 $ 38.52 5.97% 1.51%
Flexsteel FLXS Buy 01/17/14 $ 50.00 $ 43.68 $ 40.89 -6.39% 1.51%
GoDaddy GDDY SELL 04/05/16 $ 21.50 $ 32.46 $ 30.37 6.44% 2.01%
Gray Television GTN Buy 12/07/15 $ 22.00 $ 11.72 $ 12.85 9.64% 1.51%
Harte-Hanks HHS Buy 12/08/15 $ 5.00 $ 2.53 $ 1.82 -28.06% 1.51%
Haynes International HAYN Buy 09/29/15 $ 39.00 $ 36.50 $ 37.53 2.82% 1.51%
Innospec IOSP Buy 04/30/15 $ 60.00 $ 43.36 $ 48.36 11.53% 1.51%
IntelGenx IGXT Buy 04/15/15 $ 0.80 $ 0.56 $ 0.59 5.36% 1.51%
INTL FCStone INTL Buy 05/27/11 $ 36.00 $ 26.73 $ 27.30 2.13% 1.51%
IRIDEX Corp. IRIX Buy 01/26/16 $ 11.50 $ 10.22 $ 11.45 12.04% 1.51%
JMP Group JMP Buy 12/08/14 $ 8.00 $ 5.23 $ 5.15 -1.53% 1.51%
Kulicke & Soffa KLIC Buy 07/09/15 $ 15.50 $ 11.32 $ 10.72 -5.30% 1.51%
Lakeland LAKE Buy 02/09/16 $ 17.50 $ 12.27 $ 8.69 -29.18% 1.51%
Magic Software MGIC Buy 04/28/15 $ 13.50 $ 6.77 $ 6.68 -1.33% 1.51%
Newtek Business Services NEWT Buy 03/27/13 $ 16.00 $ 12.50 $ 12.69 1.52% 1.51%
Nova Measuring Instruments NVMI Buy 05/09/12 $ 16.00 $ 10.41 $ 11.05 6.15% 1.51%
Reed’s REED Buy 10/23/13 $ 9.50 $ 4.67 $ 4.51 -3.43% 1.51%
Salem Communications SALM Buy 02/24/14 $ 8.00 $ 5.76 $ 7.77 34.90% 1.51%
Seabridge Gold SA Buy 07/21/09 $ 16.00 $ 11.10 $ 13.96 25.77% 1.51%
Stamps.com STMP Buy 10/19/15 $  125.00 $ 106.28 $ 82.36 -22.51% 1.51%
StealthGass GASS Buy 04/29/16 $ 7.00 $ 4.06 $ 3.91 -3.69% -0.84%
Trecora TREC Buy 09/01/11 $ 18.00 $ 9.62 $ 11.45 19.02% 1.51%
VASCO Data VDSI Buy 05/28/15 $ 25.00 $ 15.40 $ 17.33 12.53% 1.51%
Total (Average) 4.01% -0.15%
January Performance -10.23% -8.85%
February Performance 3.50% -0.14%
March Performance 3.14% 7.62%
April Performance 1.49% 1.51%
May Performance
June Performance
July Performance
August Performance
September Performance
October Performance
November Performance
December Performance
Year to Date Performance -2.74% -0.44%
(1) Adjusted for dividends

Monthly Index March 2016

Released Date March March
Research (Price dt is  6-12 Mth Feb-16 Mar-16 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11 $ 34.00 $ 21.45 $ 23.56 9.84% 7.75%
Acme United Corp. ACU Buy 09/29/04 $ 21.00 $ 15.28 $ 16.34 6.94% 7.75%
A-Mark Precious Metals AMRK Buy 12/28/15 $ 25.00 $ 21.73 $ 19.90 -8.42% 7.75%
Astro-Med Inc. ALOT Buy 06/08/15 $ 23.00 $ 13.41 $ 13.86 3.36% 7.75%
Atlas Financial AFH Buy 10/24/13 $ 24.00 $ 17.97 $ 18.14 0.95% 7.75%
Avid Technology AVID Buy 12/23/15 $ 8.50 $ 7.65 $ 6.76 -11.63% 7.75%
Balchem BCPC Buy 04/01/15 $ 72.00 $ 63.27 $ 62.02 -1.98% 7.75%
Cambrex CBM Buy 05/29/15 $ 60.00 $ 38.57 $ 44.00 14.08% 7.75%
Century Casinos CNTY Buy 11/24/15 $ 9.25 $ 6.73 $ 6.16 -8.47% 7.75%
Cooper-Standard CPS Buy 07/13/15 $ 91.00 $ 73.25 $ 71.84 -1.92% 7.75%
Core Molding Technologies CMT Buy 12/08/14 $ 16.00 $ 11.38 $ 12.48 9.67% 7.75%
CTRP.com CTRP SELL 02/01/16 $ 27.50 $ 40.92 $ 44.26 -8.16% 7.75%
Emergent BioSolutions EBS Buy 03/28/16 $ 44.00 $ 33.75 $ 36.35 7.70% 3.19%
Flexsteel FLXS Buy 01/17/14 $ 50.00 $ 40.83 $ 43.68 6.98% 7.75%
Gray Television GTN Buy 12/07/15 $ 22.00 $ 11.54 $ 11.72 1.56% 7.75%
Harte-Hanks HHS Buy 12/08/15 $ 5.00 $ 3.09 $ 2.53 -18.12% 7.75%
Haynes International HAYN Buy 09/29/15 $ 39.00 $ 30.80 $ 36.50 18.51% 7.75%
Innospec IOSP Buy 04/30/15 $ 60.00 $ 43.40 $ 43.36 -0.09% 7.75%
IntelGenx IGXT Buy 04/15/15 $ 1.40 $ 0.48 $ 0.56 16.67% 7.75%
INTL FCStone INTL Buy 05/27/11 $ 36.00 $ 25.53 $ 26.73 4.70% 7.75%
IRIDEX Corp. IRIX Buy 01/26/16 $ 11.50 $ 10.19 $ 10.22 0.29% 7.75%
JMP Group JMP Buy 12/08/14 $ 8.00 $ 5.00 $ 5.23 4.60% 7.75%
Kulicke & Soffa KLIC Buy 07/09/15 $ 15.50 $ 11.30 $ 11.32 0.18% 7.75%
Lakeland LAKE Buy 02/09/16 $ 17.50 $ 11.92 $ 12.27 2.94% 7.75%
Magic Software MGIC Buy 04/28/15 $ 13.50 $ 6.98 $ 6.77 -3.01% 7.75%
Newtek Business Services NEWT Buy 03/27/13 $ 16.00 $ 10.50 $ 12.50 19.05% 7.75%
Nova Measuring Instruments NVMI Buy 05/09/12 $ 16.00 $ 10.68 $ 10.41 -2.53% 7.75%
Reed’s REED Buy 10/23/13 $ 9.50 $ 5.05 $ 4.67 -7.52% 7.75%
REX American Resources REX Buy 12/04/14 $ 60.00 $ 50.50 $ 55.47 9.84% 7.75%
Salem Communications SALM Buy 02/24/14 $ 8.00 $ 4.81 $ 5.76 19.75% 7.75%
Seabridge Gold SA Buy 07/21/09 $ 14.00 $ 9.27 $ 11.10 19.74% 7.75%
Stamps.com STMP Buy 10/19/15 $ 125.00 $ 118.53 $ 106.28 -10.33% 7.75%
Trecora TREC Buy 09/01/11 $ 18.00 $ 9.66 $ 9.62 -0.41% 7.75%
VASCO Data VDSI Buy 05/28/15 $ 36.00 $ 13.75 $ 15.40 12.00% 7.75%
Total (Average) 4.01% -0.15%
January Performance -10.23% -8.85%
February Performance 3.50% -0.14%
March Performance 3.14% 7.62%
April Performance
May Performance
June Performance
July Performance
August Performance
September Performance
October Performance
November Performance
December Performance
Year to Date Performance -4.17% -1.92%
(1) Adjusted for dividends

Monthly Index February 2016

Released Date February February
Research (Price dt is  6-12 Mth Jan-16 Feb-16 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11 $ 34.00 $ 22.85 $ 21.45 -6.13% -0.14%
Acme United Corp. ACU Buy 09/29/04 $ 21.00 $ 13.85 $ 15.28 10.32% -0.14%
A-Mark Precious Metals AMRK Buy 12/28/15 $ 25.00 $ 16.93 $ 21.73 28.35% -0.14%
Astro-Med ALOT Buy 06/08/15 $ 23.00 $ 15.69 $ 13.41 -14.53% -0.14%
Atlas Financial AFH Buy 10/24/13 $ 24.00 $ 17.42 $ 17.97 3.16% -0.14%
Avid Technology AVID Buy 12/23/15 $ 8.50 $ 7.10 $ 7.65 7.75% -0.14%
Balchem BCPC Buy 04/01/15 $ 72.00 $ 56.14 $ 63.27 12.70% -0.14%
Cambrex CBM Buy 05/29/15 $ 60.00 $ 34.64 $ 38.57 11.35% -0.14%
Century Casinos CNTY Buy 11/24/15 $ 9.25 $ 6.76 $ 6.73 -0.44% -0.14%
Cooper-Standard CPS Buy 07/13/15 $ 91.00 $ 69.26 $ 73.25 5.76% -0.14%
Core Molding Technologies CMT Buy 12/08/14 $ 20.00 $ 10.83 $ 11.38 5.08% -0.14%
CTRP.com CTRP SELL 02/01/16 $ 27.00 $ 42.68 $ 40.92 4.12% -0.14%
Flexsteel FLXS Buy 01/17/14 $ 50.00 $ 43.62 $ 40.83 -6.40% -0.14%
Global Ship Lease GSL Buy 08/30/13 $ 7.00 $ 1.75 $ 2.12 21.14% -0.14%
Gray Television GTN Buy 12/07/15 $ 22.00 $ 13.15 $ 11.54 -12.24% -0.14%
Harte-Hanks HHS Buy 12/08/15 $ 5.00 $ 3.42 $ 3.09 -9.65% -0.14%
Haynes International HAYN Buy 09/29/15 $ 39.00 $ 32.00 $ 30.80 -3.75% -0.14%
Innospec IOSP Buy 04/30/15 $ 60.00 $ 49.85 $ 43.40 -12.94% -0.14%
IntelGenx IGXT Buy 04/15/15 $ 1.40 $ 0.48 $ 0.48 0.00% -0.14%
INTL FCStone INTL Buy 05/27/11 $ 36.00 $ 28.19 $ 25.53 -9.44% -0.14%
IRIDEX Corp. IRIX Buy 01/26/16 $ 11.50 $ 9.63 $ 10.19 5.82% -0.14%
JMP Group JMP Buy 12/08/14 $ 8.00 $ 5.51 $ 5.00 -9.26% -0.14%
Kulicke & Soffa KLIC Buy 07/09/15 $ 15.50 $ 10.12 $ 11.30 11.66% -0.14%
Lakeland LAKE Buy 02/09/16 $ 17.50 $ 11.43 $ 11.92 4.29% 7.26%
Magic Software MGIC Buy 04/28/15 $ 13.50 $ 5.68 $ 6.98 22.89% -0.14%
Newtek Business Services NEWT Buy 03/27/13 $ 22.00 $ 10.66 $ 10.50 -1.50% -0.14%
Nova Measuring Instruments NVMI Buy 05/09/12 $ 16.00 $ 9.24 $ 10.68 15.58% -0.14%
Reed’s REED Buy 10/23/13 $ 9.50 $ 4.75 $ 5.05 6.32% -0.14%
REX American Resources REX Buy 12/04/14 $ 67.50 $ 53.43 $ 50.50 -5.48% -0.14%
Salem Communications SALM Buy 02/24/14 $ 8.00 $ 3.89 $ 4.81 23.65% -0.14%
Seabridge Gold SA Buy 07/21/09 $ 14.00 $ 6.45 $ 9.27 43.72% -0.14%
Sparton Corp SPA Buy 07/16/13 $ 30.00 $ 17.14 $ 13.97 -18.49% -7.89%
Stamps.com STMP Buy 10/19/15  $  116.00 $ 93.82 $ 118.53 26.34% -0.14%
Trecora TREC Buy 09/01/11 $ 19.00 $ 10.52 $ 9.66 -8.17% -0.14%
VASCO Data VDSI Buy 05/28/15 $ 36.00 $ 15.50 $ 13.75 -11.29% -0.14%
Total (Average) 4.01% -0.15%
January Performance -11.28% -8.85%
February Performance 4.01% -0.14%
March Performance
April Performance
May Performance
June Performance
July Performance
August Performance
September Performance
October Performance
November Performance
December Performance
Year to Date Performance -7.72% -8.98%
(1) Adjusted for dividends

Monthly Index January 2016

Released Date January January
Research (Price dt is  6-12 Mth Dec-15 Jan-15 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11 $ 34.00 $ 26.98 $ 22.85 -15.31% -8.85%
Acme United Corp. ACU Buy 09/29/04 $ 20.00 $ 17.40 $ 13.85 -20.40% -8.85%
A-Mark Precious Metals AMRK Buy 12/28/15 $ 23.00 $ 18.85 $ 16.93 -10.19% -8.85%
Astro-Med ALOT Buy 06/08/15 $ 23.00 $ 14.45 $ 15.69 8.58% -8.85%
Atlas Financial AFH Buy 10/24/13 $ 24.00 $ 19.90 $ 17.42 -12.46% -8.85%
Avid Technology AVID Buy 12/23/15 $ 8.50 $ 7.29 $ 7.10 -2.61% -8.85%
Balchem BCPC Buy 04/01/15 $ 72.00 $ 60.80 $ 56.14 -7.66% -8.85%
Cambrex CBM Buy 05/29/15 $ 63.00 $ 47.09 $ 34.64 -26.44% -8.85%
Century Casinos CNTY Buy 11/24/15 $ 9.25 $ 7.78 $ 6.76 -13.11% -8.85%
Cooper-Standard CPS Buy 07/13/15 $ 91.00 $ 77.59 $ 69.26 -10.74% -8.85%
Core Molding Technologies CMT Buy 12/08/14 $ 20.00 $ 12.83 $ 10.83 -15.59% -8.85%
Flexsteel FLXS Buy 01/17/14 $ 50.00 $ 44.18 $ 43.62 -1.27% -8.85%
Global Ship Lease GSL Buy 08/30/13 $ 7.00 $ 3.17 $ 1.75 -44.79% -10.70%
Gray Television GTN Buy 12/07/15 $ 22.00 $ 16.30 $ 13.15 -19.33% -8.85%
Harte-Hanks HHS Buy 12/08/15 $ 5.00 $ 3.24 $ 3.42 5.56% -8.85%
Haynes International HAYN Buy 09/29/15 $ 48.00 $ 36.69 $ 32.00 -12.78% -8.85%
Innospec IOSP Buy 04/30/15 $ 60.00 $ 54.31 $ 49.85 -8.21% -8.85%
IntelGenx IGXT Buy 04/15/15 $ 1.40 $ 0.52 $ 0.48 -7.69% -8.85%
INTL FCStone INTL Buy 05/27/11 $ 39.00 $ 33.46 $ 28.19 -15.75% -8.85%
IRIDEX Corp. IRIX Buy 01/26/16 $ 11.50 $ 9.00 $ 9.63 7.00% 3.81%
JMP Group JMP Buy 12/08/14 $ 9.00 $ 5.46 $ 5.51 0.92% -8.85%
Kulicke & Soffa KLIC Buy 07/09/15 $ 16.50 $ 11.67 $ 10.12 -13.28% -8.85%
Magic Software MGIC Buy 04/28/15 $ 13.50 $ 5.53 $ 5.68 2.71% -8.85%
Newtek Business Services NEWT Buy 03/27/13 $ 22.00 $ 14.32 $ 10.66 -25.56% -8.85%
Nova Measuring Instruments NVMI Buy 05/09/12 $ 16.00 $ 9.80 $ 9.24 -5.71% -8.85%
Reed’s REED Buy 10/23/13 $ 9.50 $ 5.38 $ 4.75 -11.71% -8.85%
REX American Resources REX Buy 12/04/14 $ 67.50 $ 54.07 $ 53.43 -1.18% -8.85%
Salem Communications SALM Buy 02/24/14 $ 8.00 $ 4.98 $ 3.89 -21.89% -8.85%
Seabridge Gold SA Buy 07/21/09 $ 14.00 $ 8.29 $ 6.45 -22.20% -8.85%
Sparton Corp SPA Buy 07/16/13 $ 30.00 $ 19.99 $ 17.14 -14.26% -8.85%
Stamps.com STMP Buy 10/19/15 $  116.00 $ 109.61 $ 93.82 -14.41% -8.85%
Trecora TREC Buy 09/01/11 $ 19.00 $ 12.39 $ 10.52 -15.09% -8.85%
VASCO Data VDSI Buy 05/28/15 $ 36.00 $ 16.73 $ 15.50 -7.35% -8.85%
Total (Average) -11.28% -8.52%
January Performance -11.28% -8.85%
February Performance
March Performance
April Performance
May Performance
June Performance
July Performance
August Performance
September Performance
October Performance
November Performance
December Performance
Year to Date Performance -11.28% -8.85%
(1) Adjusted for dividends

Monthly Index September 2015

Released Date September September
Research (Price dt is  6-12 Mth Aug-15 Sep-15 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11 $ 27.00 $ 22.38 $ 27.45 22.65% -5.00%
Acme United Corp. ACU Buy 09/29/04 $ 21.00 $ 17.30 $ 16.89 -2.37% -5.00%
Argan, Inc AGX BUY 10/21/14 $ 43.00 $ 39.15 $ 40.98 4.67% -0.97%
Astro-Med ALOT BUY 06/08/15 $ 23.00 $ 13.53 $ 13.90 2.73% -5.00%
Atlas Financial AFH Buy 10/24/13 $ 24.00 $ 16.17 $ 18.50 14.41% -5.00%
Balchem BCPC Buy 04/01/15 $ 72.00 $ 58.48 $ 60.77 3.92% -5.00%
Cambrex CBM Buy 05/29/15 $ 63.00 $ 47.81 $ 39.68 -17.00% -5.00%
Cooper-Standard CPS Buy 07/13/15 $ 83.00 $ 57.42 $ 58.00 1.01% -5.00%
Core Molding Technologies CMT Buy 12/08/14 $ 26.00 $ 21.75 $ 18.46 -15.13% -5.00%
Flexsteel FLXS Buy 01/17/14 $ 42.50 $ 30.79 $ 31.10 1.01% -5.00%
Global Ship Lease GSL Buy 08/30/13 $ 7.00 $ 5.38 $ 4.64 -13.75% -5.00%
Haynes International HAYN Buy 09/29/15 $ 48.00 $ 36.06 $ 37.84 4.94% 1.01%
Innospec IOSP BUY 04/30/15 $ 60.00 $ 49.10 $ 46.51 -5.27% -5.00%
IntelGenx IGXT Buy 04/15/15 $ 1.50 $ 0.52 $ 0.49 -4.85% -5.00%
INTL FCStone INTL Buy 05/27/11 $ 36.00 $ 26.42 $ 24.69 -6.55% -5.00%
JMP Group JMP Buy 12/08/14 $ 10.50 $ 7.15 $ 6.21 -13.15% -5.00%
Kulicke & Soffa KLIC Buy 07/09/15 $ 16.50 $ 10.53 $ 9.18 -12.82% -5.00%
LSB Industries LXU Buy 09/28/12 $ 41.00 $ 23.91 $ 15.32 -35.93% -5.00%
Magic Software MGIC Buy 04/28/15 $ 13.50 $ 5.95 $ 5.43 -8.74% -5.00%
Newtek Business Services NEWT Buy 03/27/13 $ 22.00 $ 17.58 $ 16.43 -6.54% -5.00%
Nova Measuring Instruments NVMI Buy 05/09/12 $ 16.00 $ 11.00 $ 9.62 -12.55% -5.00%
Reed’s REED Buy 10/23/13 $ 9.50 $ 5.24 $ 4.56 -12.98% -5.00%
REX American Resources REX Buy 12/04/14 $ 75.00 $ 53.62 $ 50.62 -5.59% -5.00%
Salem Communications SALM Buy 02/24/14 $ 9.00 $ 6.39 $ 6.12 -4.23% -5.00%
Seabridge Gold SA Buy 07/21/09 $ 14.00 $ 6.40 $ 5.80 -9.38% -5.00%
Sparton Corp SPA Buy 07/16/13 $ 30.00 $ 23.24 $ 21.40 -7.92% -5.00%
Trecora TREC Buy 09/01/11 $ 19.00 $ 12.92 $ 12.42 -3.87% -5.00%
VASCO Data VDSI Buy 05/28/15 $ 36.00 $ 16.71 $ 17.04 1.97% -5.00%
Vulcan Materials VMC Sell 06/12/13 $ 48.00 $ 93.62 $ 89.20 4.72% -5.00%
Total (Average) -4.71% -4.64%
January Performance -5.52% -3.21%
February Performance 2.94% 5.67%
March Performance -1.70% 1.39%
April Performance 1.89% -1.19%
May Performance 2.41% 2.38%
June Performance 3.14% 0.37%
July Performance -6.25% -1.11%
August Performance -3.35% -6.07%
September Performance -4.71% -4.64%
October Performance
November Performance
December Performance
Year to Date Performance -10.12% -6.73%
(1) Adjusted for dividends

Monthly Index August 2015

Released Date August August
Research (Price dt is  6-12 Mth Jul-15 Aug-15 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11 $ 27.00 $ 23.47 $ 22.38 -4.64% -6.39%
Acme United Corp. ACU Buy 09/29/04 $ 21.00 $ 18.26 $ 17.30 -5.26% -6.39%
Argan, Inc AGX BUY 10/21/14 $ 43.00 $ 38.88 $ 39.15 0.69% -6.39%
Astro-Med ALOT BUY 06/08/15 $ 23.00 $ 13.91 $ 13.53 -2.73% -6.39%
Atlas Financial  AFH Buy 10/24/13 $ 24.00 $ 18.46 $ 16.17 -12.41% -6.39%
Balchem BCPC Buy 04/01/15 $ 72.00 $ 56.71 $ 58.48 3.12% -6.39%
Cambrex CBM Buy 05/29/15 $ 63.00 $ 49.25 $ 47.81 -2.92% -6.39%
Checkpoint Systems CKP Buy 09/22/14 $ 15.00 $ 8.74 $ 8.23 -5.84% -0.79%
Cooper-Standard CPS Buy 07/13/15 $ 83.00 $ 64.30 $ 57.42 -10.70% -6.39%
Core Molding Technologies CMT Buy 12/08/14 $ 26.00 $ 19.09 $ 21.75 13.93% -6.39%
Flexsteel FLXS Buy 01/17/14 $ 42.50 $ 39.93 $ 30.79 -22.89% -6.39%
Global Ship Lease GSL Buy 08/30/13 $ 7.00 $ 5.60 $ 5.38 -3.93% -6.39%
Innospec IOSP BUY 04/30/15 $ 60.00 $ 43.24 $ 49.10 13.55% -6.39%
IntelGenx IGXT Buy 04/15/15 $ 1.50 $ 0.58 $ 0.52 -11.21% -6.39%
INTL FCStone INTL Buy 05/27/11 $ 36.00 $ 29.18 $ 26.42 -9.46% -6.39%
JMP Group JMP Buy 12/08/14 $ 10.50 $ 7.32 $ 7.15 -2.32% -6.39%
Kulicke & Soffa KLIC Buy 07/09/15 $ 16.50 $ 10.40 $ 10.53 1.25% -6.39%
LSB Industries LXU Buy 09/28/12 $ 41.00 $ 36.91 $ 23.91 -35.22% -6.39%
Magic Software MGIC Buy 04/28/15 $ 13.50 $ 6.31 $ 5.95 -5.71% -6.39%
Newtek Business Services  NEWT Buy 03/27/13 $ 22.00 $ 19.01 $ 17.58 -7.52% -6.39%
NN, Inc. NNBR Buy 07/20/12 $ 33.00 $ 22.94 $ 25.51 11.20% -2.57%
Nova Measuring Instruments NVMI Buy 05/09/12 $ 16.00 $ 12.54 $ 11.00 -12.28% -6.39%
Reed’s REED Buy 10/23/13 $ 9.50 $ 6.15 $ 5.24 -14.80% -6.39%
REX American Resources REX Buy 12/04/14 $ 75.00 $ 51.64 $ 53.62 3.83% -6.39%
Salem Communications SALM Buy 02/24/14 $ 9.00 $ 6.42 $ 6.39 -0.47% -6.39%
Seabridge Gold SA Buy 07/21/09 $ 14.00 $ 4.04 $ 6.40 58.42% -6.39%
Sparton Corp SPA Buy 07/16/13 $ 33.00 $ 23.86 $ 23.24 -2.60% -6.39%
Trecora TREC Buy 09/01/11 $ 19.00 $ 13.96 $ 12.92 -7.45% -6.39%
VASCO Data VDSI Buy 05/28/15 $ 36.00 $ 20.36 $ 16.71 -17.93% -6.39%
Vulcan Materials VMC Sell 06/12/13 $ 48.00 $ 91.02 $ 93.62 -2.86% -6.39%
Total (Average)             -6.25% -1.11%
January Performance -5.52% -3.21%
February Performance 2.94% 5.67%
March Performance -1.70% 1.39%
April Performance 1.89% -1.19%
May Performance 2.41% 2.38%
June Performance 3.14% 0.37%
July Performance -6.25% -1.11%
August Performance -3.35% -6.07%
September Performance
October Performance
November Performance
December Performance
Year to Date Performance -5.68% -2.20%
(1) Adjusted for dividends

Monthly Index July 2015

Released Date July July
Research (Price dt is  6-12 Mth Jun-15 Jul-15 Return Russell 2000
Company Ticker Call one day before) Target Price Price Performance Performance
Aceto Corp. ACET Buy 11/22/11  $ 27.00  $ 24.63  $ 23.47 -4.71% -1.31%
Acme United Corp. ACU Buy 09/29/04  $ 21.00  $ 18.24  $ 18.26 0.11% -1.31%
Argan, Inc AGX BUY 10/21/14  $ 43.00  $ 40.21  $ 38.88 -3.31% -1.31%
Astro-Med ALOT BUY 06/08/15  $ 23.00  $ 14.31  $ 13.91 -2.80% -1.31%
Atlas Financial  AFH Buy 10/24/13  $ 24.00  $ 19.83  $ 18.46 -6.91% -1.31%
Aviat Networks AVNW Buy – V 04/29/14  $ 1.50  $ 1.26  $ 1.15 -8.73% -0.81%
Balchem BCPC Buy 04/01/15  $ 80.00  $ 55.72  $ 56.71 1.78% -1.31%
Black Box BBOX Buy 08/08/14  $ 29.00  $ 20.00  $ 20.27 1.35% -0.65%
Cambrex CBM Buy 05/29/15  $ 63.00  $ 43.96  $ 49.25 12.03% -1.31%
Checkpoint Systems CKP Buy 09/22/14  $ 15.00  $ 10.18  $ 8.74 -14.15% -1.31%
Cooper-Standard CPS Buy 07/13/15  $ 83.00  $ 61.18  $ 64.30 5.10% -1.31%
Core Molding Technologies CMT Buy 12/08/14  $ 26.00  $ 22.94  $ 19.09 -16.78% -1.31%
Edgewater EDGW Buy 09/18/14  $ 9.00  $ 7.30  $ 6.71 -8.08% 3.54%
Flexsteel FLXS Buy 01/17/14  $ 42.50  $ 43.09  $ 39.93 -7.33% -1.31%
Global Ship Lease GSL Buy 08/30/13  $ 6.30  $ 5.79  $ 5.60 -3.28% -1.31%
Innospec IOSP BUY 04/30/15  $ 60.00  $ 45.04  $ 43.24 -4.00% -1.31%
IntelGenx IGXT Buy 04/15/15  $ 1.50  $ 0.55  $ 0.58 5.45% -1.31%
INTL FCStone INTL Buy 05/27/11  $ 36.00  $ 33.24  $ 29.18 -12.21% -1.31%
JMP Group JMP Buy 12/08/14  $ 10.50  $ 7.80  $ 7.32 -6.15% -1.31%
Kulicke & Soffa KLIC Buy 07/09/15  $ 16.50  $ 11.53  $ 10.40 -9.80% -1.31%
LSB Industries LXU Buy 09/28/12  $ 51.00  $ 40.84  $ 36.91 -9.62% -1.31%
Magic Software MGIC Buy 04/28/15  $ 13.50  $ 6.66  $ 6.31 -5.26% -1.31%
Newtek Business Services  NEWT Buy 03/27/13  $ 22.00  $ 17.72  $ 19.01 7.28% -1.31%
NN, Inc. NNBR Buy 07/20/12  $ 33.00  $ 25.52  $ 22.94 -10.11% -1.31%
Nova Measuring Instruments NVMI Buy 05/09/12  $ 15.00  $ 12.50  $ 12.54 0.32% -1.31%
Reed’s REED Buy 10/23/13  $ 9.50  $ 6.22  $ 6.15 -1.13% -1.31%
REX American Resources REX Buy 12/04/14  $ 98.00  $ 63.64  $ 51.64 -18.86% -1.31%
Salem Communications SALM Buy 02/24/14  $ 9.00  $ 6.33  $ 6.42 1.42% -1.31%
Seabridge Gold SA Buy 07/21/09  $ 14.00  $ 6.11  $ 4.04 -33.88% -1.31%
Sparton Corp SPA Buy 07/16/13  $ 33.00  $ 27.32  $ 23.86 -12.66% -1.31%
Trecora TREC Buy 09/01/11  $ 19.00  $ 15.10  $ 13.96 -7.55% -1.31%
VASCO Data VDSI Buy 05/28/15  $ 36.00  $ 30.19  $ 20.36 -32.56% -1.31%
Vertex Energy VTNR Buy 07/22/13  $ 5.00  $ 2.37  $ 2.11 -10.97% -0.65%
Viad Corp. VVI Buy 08/01/13  $ 33.00  $ 27.11  $ 28.65 5.68% -1.31%
Vulcan Materials VMC Sell 06/12/13  $ 42.00  $ 83.93  $ 91.02 -8.45% -1.31%
Total (Average)             -6.25% -1.11%
January Performance -5.52% -3.21%
February Performance 2.94% 5.67%
March Performance -1.70% 1.39%
April Performance 1.89% -1.19%
May Performance 2.41% 2.38%
June Performance 3.14% 0.37%
July Performance -6.25% -1.11%
August Performance
September Performance
October Performance
November Performance
December Performance
Year to Date Performance -2.41% 4.12%
(1) Adjusted for dividends