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....
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For further details see:
Artko Capital - HireQuest: Lucrative Franchise Economics Despite Jittery Performance