Mindset Capital Expects Strong Earnings From HireQuest (HQI) in August

Mindset Capital, an investment management company, released its “Mindset Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the second quarter, the fund was down 32%. The investment in the cannabis portion of the portfolio fell by over 50% and impacted the fund’s overall performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Mindset Capital discussed stocks like HireQuest, Inc. (NASDAQ:HQI) in the second quarter investor letter. Based in Goose Creek, South Carolina, HireQuest, Inc. (NASDAQ:HQI) is a staffing solutions provider in the United States. On September 15, 2022, HireQuest, Inc. (NASDAQ:HQI) stock closed at $14.75 per share. One-month return of HireQuest, Inc. (NASDAQ:HQI) was 3.00% and its shares lost 27.63% of their value over the last 52 weeks. HireQuest, Inc. (NASDAQ:HQI) has a market capitalization of $203.765 million.

Here is what Mindset Capital specifically said about HireQuest, Inc. (NASDAQ:HQI) in its Q2 2022 investor letter:

“Our worst performing non-cannabis investment was HireQuest, Inc. (NASDAQ:HQI) which was down 30%.

Despite owning 62% of the company, insiders including the CEO of HireQuest bought approximately $500,000 worth of stock. Even after a recent bounce from the lows, HireQuest trades at 11.5 times my earnings estimate with no debt, a 60% operating margin and 27% return on equity. I’m expecting strong earnings from the company when they report in August.”

Employee Training people having meeting inside conference room

HireQuest, Inc. (NASDAQ:HQI) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 5 hedge fund portfolios were held by HireQuest, Inc. (NASDAQ:HQI) at the end of the second quarter which was 3 in the previous quarter.

We discussed HireQuest, Inc. (NASDAQ:HQI) in another article and shared Rhizome Partners’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.