Price action on this stock very strange. Big block trades by instos (Super funds, Regal recently, etc), and nothing on market but bots. It's actually quite a hard business to value IMO with all the accounting quirks of a life insurer, and still in growth mode. The adjusted earnings figures used by management are helpful, as is their focus on net premium growth as key value driver, but getting to a 'free cash flow' number is tricky. Interested to hear anyone's thoughts/approach to this. So anyway, may exclude some more traditional 'value investors', and maybe not sexy enough for growth investors or retail degens. But I think it fits the bill for a quality compounder at reasonable price - how many of these on the ASX?
Anthony mentioned several times share price in the earnings call. I would be interested in longer term holders (e.g. Sammuel Terry AM) and Regal's view on this, which might have more insight into the institutional perspective.
NOL Price at posting:
$1.50 Sentiment: Buy Disclosure: Held
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