Thoughts on IEL, LOV, FDV and TYR please

Hi Anthony,

Four questions rolled into one here hence the brief answer to each:

IDP Education (IEL) $14.51 -Unfortunately IEL has become a political “hot potato” with an election approaching before September 27th 2025, potentially well over a year away. Its hard to get excited with this cloud hanging over the stock and the risks that overseas students will go elsewhere for their studies.  Too many unknowns for us, although I know Emma Fischer over at Airlie has been a recent buyer.

Lovisa Holdings (LOV) $31.50 – was smacked on the news that CEO Victor Herrero will leave the company, though not before another 12 months in the role.  We felt the sell-off in LOV was a touch overcooked on the day, however, they do have a very aggressive store roll out planned that is essential to maintain their growth trajectory, and a change at the top creates a risk to this. We are neutral i.e. not buyers of the dip.

Frontier Digital (FDV) 45c –  not one we know well so can’t really offer much insight.

Tyro Payments (TYR) 79.5c – no change around  TYR, the trend has been one way here so it has not come onto our radar for a while.

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IDP Education Ltd (IEL)

LAST UPDATED 07/06/2024 08:30

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IDP Education Ltd (IEL)

LAST UPDATED 07/06/2024 08:30