Should You Consider Investing in HireQuest (HQI)?

Rhizome Partners, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. For the fourth quarter of 2021, Rhizome Partners generated a net gain of 6.7% versus an 11.0% gain for the Standard & Poor’s 500 Index and a 16.2% gain for the National Association of Real Estate Investment Trusts (NAREIT) Index. For the year, Rhizome Partners Class B returned 24.9% versus 28.7% for the S&P 500 and 41.3% for the NAREIT. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Rhizome Partners, in its Q4 2021 investor letter, mentioned HireQuest, Inc. (NASDAQ: HQI) and discussed its stance on the firm. HireQuest, Inc. is a South Carolina-based temporary staffing offices franchisor with a $257.5 million market capitalization. HQI delivered a -6.99% return since the beginning of the year, while its 12-month returns are up by 23.76%. The stock closed at $18.75 per share on February 23, 2022.

Here is what Rhizome Partners has to say about HireQuest, Inc. in its Q4 2021 investor letter:

“Our two staffing companies performed exceptionally well during 2021. Both HireQuest and Cross Country benefited greatly from sharp rebounds of operating results over 2020. Both companies are also jockey bets. We’re excited to watch Rick Hermanns continue to acquire staffing operators and convert them to franchises. There is likely a multiyear runway to roll up various smaller players.”

Our calculations show that HireQuest, Inc. (NASDAQ: HQI) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. HQI was in 1 hedge fund portfolio at the end of the fourth quarter of 2021, compared to 2 funds in the previous quarter. HireQuest, Inc. (NASDAQ: HQI) delivered a -18.27% return in the past 3 months.

In September 2021, we also shared another hedge fund’s views on HQI in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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