Great result, growth and a fantastic dividend, page-5

Numbers looking OK 2 Me.
SHAW shows support 2.

HFA Holdings (HFA)
Rating: Buy | Risk: High | Price Target: $3.00
Full Year Profit a bit light, but optimism about the future.
Event: HFA Holdings reported a full year net profit after tax of $US17.7m and a final dividend of $US8c, in line with expectations. A change in name (to Navigator Global Investments) and a “broader business strategy which seeks to grow and diversify the Group’s key operations beyond the traditional fund of hedge fund industry” was also flagged. We cut 2018 estimates on higher costs, but stronger FUM flow offsets this in 2019 and beyond. We maintain a BUY recommendation and a $3.00 price target.
Recommendation: BUY. HFA is trading near a 52 week high following a strong bounce from below $2.00 only a few short months ago. Management remains upbeat about the potential increase in funds flow and it is likely that diversified macro and global long/short products will increase in attraction as investors look to take profits in equities but avoid low yielding bonds. The business seeks to diversify its business further which should reduce the risk premium traditionally afforded to the shares and should see HFA trade up toward our $3.00 price target.