EZPW - Curo Group: Market Leader Trading At Rock Bottom Multiples Offers Substantial Upside Potential
Investment thesis overview
CURO Group Holdings Corp. (CURO) provides a range of short-term credit products to underbanked consumers in the US and Canada. Its UK operations entered into administration on February 25, 2019. CURO IPOed in December 2017 and initially traded inline with other subprime consumer credit market leaders. However, the impact of regulatory scrutiny in Canada and the UK on its business led to a 3Q 2018 profit warning. The market reacted by placing Curo in the penalty box where it remains today trading on adjusted price earning multiples below that of