NIC has endured a very tough decline since Russia’s invasion of the Ukraine back in March, the stocks fallen almost 60% during this time and while on the surface it looks good value trading on an Est P/E for 12/22 of 7.1x and being expected to yield in excess of 5% over the next 12-months its just in the too hard basket for us until further notice.
- We continue to feel that NIC “looks and feels wrong” hence we have no interest.
MM is neutral NIC, at best
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