Any idea for the steep decline,? Do you think it may be due to the fact they possibly overpaid for Quidmarket?
Buy more or reduce or sell? Holder of 1500 shares.
Other than 'the market' and a small target price move down by Canaccord ($41.50 to $40.00) we have nothing concrete to point to. There has been no company news in a long time, other than the dividend hike on Feb 11. Fear of losses in a recession may be one reason. Or simply profit-taking; it is still up 74% in 52 weeks. It is much cheaper on valuation now at 13X earnings. The yield is 2.27%. We think it looks good, we would be buyers if new position size matches investors' risk appetite. Quidmarket could be a reason, but it is early days (acquired in late September) and it was not a giant deal for the company.