Q: Any thought on the negative momentum of Late? Any concerns? Thanks Larry
5i Research Answer:
HPS.A declined for a few days in early July, but has since bounced back pretty nicely. It trades at a 17X forward earnings multiple, and analyst estimates are somewhat flatlining, but it generates decent free cash flows and issues a dividend. We would like to see momentum continue to improve, but overall it has been a solid name, and we will continue to evaluate after its earnings results next week.