Travis Cocke presented his in-depth investment thesis on QHR (TSX Venture: QHR) at Best Ideas 2016.
Please note: This presentation focuses on a micro-cap investment idea. Micro-cap ideas may be particularly risky due to their low float, often spotty disclosures, and a higher-than-usual potential for market manipulation. While it is always essential to do your own work on every potential investment before committing to it, it is especially important to be extremely careful with micro-cap ideas. We bring the following presentation to you because we respect the instructor, but we warn that the idea may not be an appropriate investment. (This implies no endorsement of other ideas presented at this conference.)
QHR is an underfollowed, mission-critical electronic medical records (EMR) software provider, with a long runway for growth and one of two or three winners in a rapidly consolidating industry. Travis believes QHR stock is a double over the next two years with low downside risk. The shares trade at ~2x recurring revenue, with underlying growth near 20%. After slimming down substantially to become a pure play, removing the old CEO for a far more communicative replacement, and giving board seats to a well-respected Canadian investor (Pender Funds) who owns 17% of the company, Travis believes QHR is about to hit an inflection point on profitability and investor transparency while maintaining a long runway of profitable growth.
About the instructors:
Travis Cocke is the Portfolio Manager of the Voss Value Fund, LP. Prior to founding Voss Capital LLC in 2011, he was a Portfolio Manager at Farney Management Corp., a family office in Georgetown, Texas, and Analyst at Ascendant Advisors LLC, in Houston, Texas. Mr. Cocke joined Ascendant as a generalist research analyst. Mr. Cocke received a BBA in Finance from Texas A&M University. Mr. Cocke was awarded third place in the inaugural SumZero investment idea contest in summer of 2013, first place in the 2015 FactSet Best Large Cap Idea contest, and “Judges’ Top Pick” for the best investment idea for the Pitch Perfect contest at the 2014 Texas Hedge Fund Conference.
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