Will Constellation Software Announce a Stock Split?
Summary
With his long, flowing white beard and steely gaze, Constellation Software President Mark Leonard looks like a cross between Sir Ian McKellan’s Gandalf the Grey from The Lord of the Rings and his Erik Lesherr/Magneto from the X-Men films. However, the notoriously reclusive and secretive Leonard, who has only allowed three photos of himself to circulate online, lets his Constellation Software numbers do the talking for him, and they are impressive, with its equally under-the-radar stock delivering an over 290-fold return on investment since going public in Toronto, Canada, in 2006. A brief look into Constellation Software’s history and current trajectory makes a case for a stock split, although some dissenting voices have also made valid points. Not unlike Buffett, Leonard prefers a very “hands-off” management approach towards the subsidiary companies, and tries to let them continue on their respective growth tracks, unencumbered by corporate politics or other distractions. A forward stock split would not only bring the price down to a more affordable level for a wider range of investors, but also add liquidity to the float.
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