Cedar Grove Capital Management

Cedar Grove Capital Management

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Cedar Grove Capital Management
Cedar Grove Capital Management
New Position - Quick Pitch: "Going International"
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Equity Research

New Position - Quick Pitch: "Going International"

Revealing a new position which is my first investment overseas

Paul Cerro's avatar
Paul Cerro
May 30, 2024
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Cedar Grove Capital Management
Cedar Grove Capital Management
New Position - Quick Pitch: "Going International"
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As part of my earlier update at the beginning of May, I promised to notify you whenever I made any material change to my portfolio to promote transparency and accountability.

As of yesterday, I have taken a starter position in a company that happens to be my first investment overseas. In this post, I will not go over the name in detail but will quickly go over what made me start my position in this 5-minute pitch.

I’m leaving the more detailed research to be done at a later time in a more lengthy and deep post which is attuned to how I normally publish my research.

With that being said, the company that I’ve taken a position in also happens to be on fire as of late. In the last year alone, the company is up a whopping +69.4%!

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But don’t let that fool you though, the company went public in 2021 and in a post-COVID world, the stock was hit and suffered an 80% drawdown before bottoming out in March of 2022.

Source: Company financials.

Despite the tough valuation that investors clearly did not support, the company has grown sales at an annual CAGR of 53.2% from 2015 to 2023 and shows promising signs that the same level of growth can continue.

chart

Trading at just over 11.5x forward EBITDA, the company that I’m referring to is….🥁🥁🥁

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