My only concern is that growth is not fast enough to justify current valuation. Stock trading at 20-25 cents on the dollar of NAV, probably less...but many will conclude that it is priced "fairly," and the upside is limited until revenues more than double from here. There isn't risk from an operational or financial standpoint as their demographics and client base are largely insulated from most economic cycle impacts. In addition to their CFGDI figure, I want to see a lot more share repurchasing happening below $50 per share...they still have $90 mill of additional capacity to buy back stock and doing this in the past was highly accretive.
