After a bit of dithering, I've added s modest position in CCG to my portfolio.
There's a lot to like about CCG - it's operating in businesses characterised by industry tailwinds, no debt, net cash, solid top line and EBIDTA growth forecast, big-name business partners, management with skin in the game and undemanding multiples for the industry. Potential as a takeover target is noted but not part of my analysis.
Things I didn't like - employee compensation is a very high percentage of revenue for this type of business (but should come down as the company scales up) and I see no prospect of a dividend in the near term.
Thanks to all those who've posted.
