Manages a closed-ended fixed income mutual fund. Invests primarily in tax-exempt, investment-grade U.S. municipal bonds. Now — the numbers.
This is an established company with proven profits.
Average growth of 57% a year over the last 3 years. Every year shown ended in profit.
The market pays 33.8× for every dollar this company earns in a year — a price that already assumes things go well.
No analyst target is on record for this company.
The stock trades 36% below its peak. The market has trimmed its expectations for the company.
The net profit margin is 44% — still a thick cushion, though costs have been eating into it lately.
Over the last 4 years, sales grew about 57% a year on average.
It pays out $0.53 per share each year — regular cash for whoever holds the stock.
The company’s market value is 34 times its annual profit. Even a small disappointment could hit the price hard.
Over the last 12 months, executives reported 5 sells against just 0 buys. Not an alarm bell by itself, but a number worth watching.
We grade companies — revenue, margins, balance sheets. This is a fund, so there is no report card to give. That is not a low grade; it is a different kind of thing.
One-line summary: a basket, not a business. Judge it by what it holds.