RHC has been a huge disappointment to MM—nobody likes to get it wrong! We’re sure KKR is glad they didn’t buy the business for $88 per share back in 2022, but we feel the stock is becoming increasingly attractive after its 1H24 update. Recent results demonstrated plenty of improvement in the UK/Euro business, which has been a major area of concern while the Australian business remained solid – its French business was the major stumbling block in the KKR bid.
- We liked their recent 1H24 update and plan to stay long for now in our Active Growth Portfolio.
MM is long and bullish RHC
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