11 Comments
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stetrucci's avatar

Love it. The TMM continues to get better…

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DastanyLFC's avatar

If you like Lifestance, you might want to take a look at Limes Schlosskliniken (Germany, private clinics for stress-related illnesses, mental and psychological disorders). Trading at <10x EBITDA Mult (EBITDA FY24 EURm 9,7 which includes 1.7m in ramp up costs for a new clinic); EV EURm 90) , FY23 headwinds disappearing (H1 was weak as cost increases could only be passed on with with some time lag) and back on track for their FY26 target (doubling revenue and EBITDA without new acquisition)

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Steve Armitt's avatar

Like the new format!

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JJ P's avatar

Always a great read, appreciate it!

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TheShamelessCloner's avatar

Any Deeper insight on turtle beach? They try to sell their business since 2022! The board situation is compelling but market is giving the sale nearly 0% success with trading at 11$

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ToffCap's avatar

Sorry, not much more insight. We screen a lot, and seek out what looks the most interesting, but just don't have the time to vet them all.

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TheShamelessCloner's avatar

Understandable, in this case the bids are from 2021, so not really relevant given the current share price :)

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JJ P's avatar

Market cap is low though so would that mean an easier time selling?

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JJ P's avatar

I was thinking the same thing. If the share price was $6 - $8 I would feel better about taking a position but at 11 I'm hesitant.

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Jason's avatar

have you looked into the biote business model in more detail?

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Feb 5, 2024
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ToffCap's avatar

Read David K's piece; it'll provide a lot of interesting background

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