HQI - Artko Capital - HireQuest:  Lucrative Franchise Economics  Despite Jittery Performance

2024-03-07 11:25:00 ET

Summary

• HireQuest, the company, had a bit of a mixed bag fundamental year with mostly positive results.
• 2023 was a kitchen sink year where a combination of factors made for some jittery stock performance.
• We believe HQI will come out of 2023 with an efficient, sub-$20mm expense base.

The following segment was excerpted from this fund letter.

HireQuest ( HQI )

HireQuest, the company, had a bit of a mixed bag fundamental year with mostly positive results. HireQuest, the stock, had a flat 2023. However, with an up/down 80.0% round trip, it remains substantially above our original purchase prices. A combination of cyclical labor market fears and challenges in absorbing a large acquisition resulted in a disappointing year for this investment....

For further details see: