Ticker
$HRTG
Industry
Insurance
Type
Beaten Up
Rating
Not Rated
Latest Report
Notes
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Financials and Valuation
FY21 Valuation — At 0.8x FY21 book value of $12.34 per share = $10. This would be ~9x earnings at $1.10 in 2022 EPS. Both multiples are in-line with longer run averages.
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Resources
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Heritage is seeing continued losses and this option looks like it’s a long way from paying off. Sold all shares for a significant loss. Will continue to monitor from a distance to see if they make any progress on the turnaround.
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