Substack
Everything we have picked from this writer, newest first.
ARKO trades at 3 times estimated 2025 owner’s earnings, while its 73.6% APC stake exceeds its $473 million market cap.
Bumble trades at roughly 2x owner’s earnings and 4.76x enterprise value, with Whitney Wolfe Herd’s return central to a rerating case.
Beasley Broadcast Group's equity hinges on repaying or arranging sales for roughly $115.5 million of debt by September 2027, before PIK…
PINFRA's nonvoting PINFRAL shares trade 27.2% below voting stock despite identical economics, while its toll-road concessions average 31…
Harte Hanks’ $5-per-share sale to Starr Equity offers a 15.7% gross spread, with closing dependent on $15 million of debt financing and…
CareCloud trades at 4x free cash flow with 95% retention, a $100 million market cap and a large healthcare-software acquisition runway.
Citizens Bancshares (CZBS) trades below book and parent-level cash while buying back shares, raising its dividend and holding $95.7 million…
Evolution’s acquisition of Galaxy Gaming awaits regulatory approval, with a claimed 58.7% IRR if completed and a $5 million termination fee…
Kaspi trades at 7 times earnings while growing 40%, with its $1 billion Hepsiburada acquisition adding Turkish expansion risk.
Boston Omaha trades at $13.31 versus a $23-$30 intrinsic-value estimate, with billboard, broadband, hangar and surety businesses valued at…
