Engine Gaming and Media (GAME)(GAME:CA) – A Streamlined Path Toward Positive Cash Flow

Wednesday, April 27, 2022

Engine Gaming and Media (GAME)(GAME:CA)
A Streamlined Path Toward Positive Cash Flow

Engine Media Holdings Inc is engaged in esports data provision, esports tournament hosting, and esports racing. Its brand profile includes Eden Games, Allin sports, and UMG, and others. The company’s operating segments include E-Sports; Media and Advertising and Corporate and Other. It generates maximum revenue from the Media and Advertising segment. The Media and Advertising segment includes platform and advertising services provided to other broadcasters, primarily local tv and radio broadcasters.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Noblecon 18 highlights. Tom Rogers, Executive Chairman, and Lou Schwartz, CEO, outlined the new strategy of the company at Noblecon18 following important recent developments, considered to be shareholder friendly. To view this fireside chat which provided detail on its plan to streamlined operations and swing toward positive cash flow, click here.

    New strategy.  Recently Engine shifted its focus towards media and advertising, with a special focus on social influencer marketing. Importantly, the sector trends appear favorable, with the influencer marketing industry expected to grow at a 30% CAGR from 2021 to 2025. Management identified its differentiation from competitors in the growing live-streaming platforms and social media platforms …


This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

 

ACCO Brands (ACCO) – Sales and Profits Exceed Management Expectations For 1Q22

Wednesday, April 27, 2022

ACCO Brands (ACCO)
Sales and Profits Exceed Management Expectations For 1Q22

ACCO Brands Corporation designs, manufactures, sources, markets, and sells office products, academic supplies, and calendar products primarily in the United States, Canada, Northern Europe, Brazil, Australia, and Mexico. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers office products, such as stapling, binding and laminating equipment, and related consumable supplies, as well as shredders and whiteboards; and academic products, including notebooks, folders, decorative calendars, and stationery products. It also provides private label products, as well as business machine maintenance and repair services. The company offers its business, academic, and calendar product lines under the Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra, Wilson Jones, and other brand names. In addition, it designs, sources, distributes, markets, and sells accessories for laptop and desktop computers, and tablets comprising security products; input devices, such as presenters, mice, and trackballs; ergonomic aids, including foot and wrist rests; docking stations; and other personal computers and tablet accessories under the Kensington, Microsaver, and ClickSafe brand names. The company sells its products to consumers and commercial end-users primarily through resellers, including traditional office supply resellers, wholesalers, mass merchandisers, and retailers, as well as directly to consumers through on-line and direct mail. ACCO Brands Corporation is headquartered in Lake Zurich, Illinois.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    1Q22 Operating Results. ACCO reported Q22 revenue of $441.6 million, up 7.6% year-over-year and up 11.2% on a comparable basis, with all segments posting growth. We had forecast $420 million. Adjusted EPS was $0.11, compared to $0.10 last year. We had forecast adjusted EPS of $0.09.

    Growth Across All Segments.  ACCO experienced meaningful comparable sales growth across all segments. Both reported and comparable sales were driven by higher sales prices, a positive 6.4% impact, and higher volumes, up 4.7%. ACCO saw strong demand for school products, computer accessories, and business products. Adverse foreign exchange reduced net sales by $14.9 million, or 3.6% …


This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

 

Harte Hanks (HHS) – The Art Of A Turnaround

Wednesday, April 27, 2022

Harte Hanks (HHS)
The Art Of A Turnaround

Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    NobleCon18 highlights. Brian Linscott, CEO, and Lauri Kearnes, CFO, presented at NobleCon18 highlighting that the company has successfully pivoted from surviving to thriving. To watch a full replay of the presentation, please click here.

    Customer Care keeps rolling.  The Customer Care segment represented 38% of total revenues in 2021, growing 27.3% on a YoY basis. As a result of technology investments and an asset-lite strategy, the company has been able to decrease fixed costs and reduce its footprint in the division. Management is optimistic about expansion opportunities. The business could have the capacity to generate $1 million …


This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

 

Travelzoo (TZOO) – Flies By Expectations

Wednesday, April 27, 2022

Travelzoo (TZOO)
Flies By Expectations

Travelzoo is a US-based company which acts as a publisher of travel and entertainment offers. The company informs a varied number of members in Asia Pacific, Europe, and North America, as well as millions of website users, about the best travel, entertainment and local deals available from various companies. It provides travel, entertainment, and local businesses in a flexible manner to the various customer. The company operates in three geographic segments namely Asia Pacific, Europe, and North America. Travelzoo derives its revenue through advertising fees including listing fees paid by travel, entertainment, and local businesses to advertise their offers on company’s media properties. Most of the company’s revenue is derived from the North America.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Exceeds Q1 estimates. Q1 revenues of $18.4 million was better than our $16.8 million estimate, with better than expected revenue growth in Europe and a nice rebound in North America. With costs slightly below estimates, adj. EBITDA was significantly better, $3.0 million versus our $0.6 million estimate.

    Operating on all cylinders.  Both Europe and North America contributed to the strong revenue. Europe increased 66% to $5.9 million and North America was up 19% to $11.7 million from the year earlier quarter. The company benefited from two acquisitions in the quarter, (not detailed), but enhanced European revenues and saved costs, expanding margins …


This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

 

Release – Great Lakes Dredge & Dock Corporation Schedules Announcement of 2022 First Quarter Results



Great Lakes Dredge & Dock Corporation Schedules Announcement of 2022 First Quarter Results

Research, News, and Market Data on Great Lakes Dredge & Dock

 

HOUSTON, April 26, 2022 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) today announced that it will release the financial results for its three ended March 31, 2022 on Tuesday, May 3, 2022 at 7:00 a.m. C.D.T. A conference call with the Company will be held the same day at 9:00 a.m. C.D.T. The call-in number is (877) 377-7553 and Conference ID is 1383479. The conference call will be available by replay until Thursday, May 5, 2022 by calling (855) 859-2056 and providing Conference ID 138479. The live call and replay can also be heard on the Company’s website, www.gldd.com, under Events on the Investor Relations page. A copy of the press release will be available on the Company’s website.


The Company
Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, the Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the company’s culture. The company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount. Great Lakes also owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of over 200 specialized vessels.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

Townsquare Media (TSQ) – A Mispriced Stock?

Wednesday, April 27, 2022

Townsquare Media (TSQ)
A Mispriced Stock?

Townsquare Media Inc is an entertainment and media company offering digital marketing solutions in the United States and Canada. It owns and operates radio stations, social media properties focusing the small and mid-cap companies. Services offered to the clients include live events, local advertising, digital advertising, e-commerce offerings, few others. The segments through which the company operates its businesses are classified into Local marketing solutions and Entertainment segments. Revenues are generated from commercials through broadcasts and sale of internet based advertisements.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Noblecon 18 highlights. Townsquare CFO, Bill Wilson, presented at Noblecon18, speaking on a range of topics such as, the company’s evolution from a pure-play broadcaster to a digital-first company, the competitive advantages to bringing a scaled operation to small markets, and the organic nature of digital revenue growth. The full replay of the presentation can be found here.

    Fast-growing digital.  Mr. Wilson highlighted the robust growth of the company’s Digital businesses, noting that digital advertising is the fastest growing segment of the business, growing 20.5% in 2021. The company’s digital marketing solutions business has also experienced impressive growth with record net subscriber additions in both 2020 and 2021 …


This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

 

PTSD MDMA and Psilocybin


Image Credit: Peter Murphy (Flickr)


Latest Trials Confirm the Benefits of MDMA – the Drug in Ecstasy – for Treating PTSD

 

For people with post-traumatic stress disorder, recalling memories of physical or sexual assault, combat or disaster-related events can induce intense anxiety or panic attacks as well as debilitating flashbacks.

In the U.S., about 7% of people suffer from PTSD and lose an average of about four working days each month as a result. Trauma-specific psychotherapy, like cognitive processing or “talk” therapy, is the cornerstone of treatment for PTSD. But for approximately half of people, these traditional approaches are ineffective at fully addressing PTSD symptoms over the long term. Antidepressant drugs are frequently used if psychotherapy fails, or in combination with it, but the effects are usually modest.

MDMA (3,4-methylenedioxymethamphetamine) is an active ingredient in the illicit street drug known as ecstasy or molly. People in dance clubs and raves use illicit MDMA because it elevates mood and energy levels, induces a feeling of bonding with others and produces a surreal psychedelic effect. These same effects have been hypothesized to support people with PTSD during psychotherapy sessions, since they can make people more willing and able to share and explore their traumatic experiences. Our new meta-analysis of clinical trials confirms the benefits of MDMA-assisted psychotherapy in the treatment of PTSD.

 

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It was written by and represents the research-based opinions of C. Michael White, Distinguished Professor and Head of the Department of Pharmacy Practice, University of Connecticut. Adrian V. Hernandez, Associate Professor of Comparative Effectiveness and Outcomes Research, University of Connecticut.

 

We are a pharmacist and physician team who investigate the benefits and harms associated with substances of abuse like bath salts, phenibut, cannabis and synthetic marijuana. Through this work we have become intrigued about the therapeutic potential for some psychedelic drugs in the treatment of myriad psychiatric disorders, from PTSD to major depression, especially MDMA and psilocybin (hallucinogenic mushrooms).

It is important to state that using ecstasy or molly products from the street would not help PTSD symptoms because the MDMA needs be used along with carefully crafted psychotherapy in a safe, controlled environment. Ecstasy or molly products purchased illicitly never specify the exact amount of MDMA they contain, so it is impossible to dose it properly for PTSD. Taking too much MDMA or exercising while taking MDMA can cause heart attacks, strokes, seizures and arrhythmias and can damage muscles and kidneys.

 

What is MDMA-Assisted Psychotherapy?

In an MDMA-assisted psychotherapy session, patients take MDMA as a pill upon entering a psychiatrist’s office and then work with a team of therapists who help them divulge traumatic events or discuss aspects of those events over the course of several hours. They usually have non-MDMA sessions before the first MDMA session so they know what to expect. And they have at least one non-MDMA session after each MDMA one to work through the traumatic memories that were revealed and to learn coping strategies. A standard treatment course includes two or three multi-hour MDMA-assisted psychotherapy sessions and several non-MDMA sessions.

The MDMA products used in these sessions are pharmaceutical grade. This means that, unlike illicitly obtained street products, they do not contain other substances of abuse, such as methamphetamine, or contaminants like heavy metals, bacteria or mold. People with hypertension or those at high risk of heart attacks, strokes or arrhythmias should not participate, because they can have unsafe elevations in blood pressure and heart rate. In addition, patients are not allowed to leave for eight hours, until the effects of MDMA have fully worn off.


Assessing the Effectiveness of MDMA-Assisted Psychotherapy

In 2014, we reviewed the available animal data and the few preliminary human studies of MDMA-assisted psychotherapy, but at the time, higher-quality clinical trials had not yet been completed. But in the past few years, larger and higher-quality trials have been published, warranting an in-depth assessment.

So we recently reviewed the data comparing antidepressant use to placebos for patients with PTSD and performed a meta-analysis study of the six different clinical trials that assessed the usefulness of MDMA-assisted psychotherapy versus psychotherapy alone. All of the trials we analyzed included both men and women who had experienced a multitude of traumatic events that led to PTSD. The studies used the same points scale to determine the effectiveness of therapy, making it easier to compare data across studies. Scores above approximately 50 points mean a patient has severe PTSD, and scores reduced by more than 10 points from baseline are clinically meaningful.

We found that daily antidepressant therapy reduced PTSD by 6 to 14 points compared with the placebo, but a range of 27% to 47% of patients across the studies withdrew before the end of the trials. In contrast, MDMA-assisted psychotherapy reduced the scores by 22 points compared with those receiving psychotherapy with placebo, and patients were twice as likely to no longer meet the criteria for PTSD diagnosis by the end of the trials. In addition, only 8% of patients withdrew from MDMA-assisted psychotherapy trials. The main adverse effects included teeth grinding, jitteriness, headache and nausea. One of these MDMA trials found that participants’ blood pressure and heart rate were elevated in the course of MDMA therapy, but not to a concerning extent.

For several of the trials in our meta-analysis, investigators sent a questionnaire to participants 12 months after their last MDMA session to assess the long-term impact. Overall, 86% of participants said they received substantial benefits from the combined MDMA-assisted psychotherapy. Eighty-four percent of participants reported having improved feelings of well-being, 71% had fewer nightmares, 69% had less anxiety and 66% had improved sleep. The results from across all of the studies suggested that MDMA-assisted therapy was helping to alleviate the PTSD itself, not simply suppressing symptoms.

 

Looking Ahead

The U.S. Drug Enforcement Administration identifies MDMA and psilocybin as Schedule I controlled substances. According to the DEA, these substances have no currently accepted medical use in the U.S. and come with high abuse potential.

However, it’s worth noting an important exception. Cannabadiol, or CBD, a chemical that comes from the plant Cannabis sativa, is classified as a Schedule I drug. But the Food and Drug Administration approved its use in 2018 for the treatment of two rare and severe childhood seizure disorders. That doesn’t mean that the CBD in your lotion or seltzer has proof of benefit for most of the ills people are using it for, but its full therapeutic potential is still being explored. Given the strong consistent beneficial effects and manageable adverse events in the newer trials designed with FDA input, we suspect that MDMA-assisted psychotherapy will become an FDA-approved option for PTSD by the end of 2023. Psilocybin – commonly known as hallucinogenic mushrooms – also shows promise for treating major depression, but further research is needed.

The DEA’s stringent policies made it exceptionally hard for scientists to conduct research on Schedule I drugs for decades by criminalizing the possession of the products, even in research settings. But in 2018, the agency streamlined the application process for securing a waiver for research purposes. This made it easier for researchers to conduct trials into the pharmaceutical value of psychedelic drugs. Within the next decade, this shift will almost certainly accelerate the discovery of new treatments for patients suffering from mental illness.

 

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Acceptance of Psychedelics for Wellness and Recreation



Psychedelics, the Next Breakthrough in Mental Health Treatment (Video)

 

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Lee Enterprises, Inc. (LEE) – Digital To Drive Swing Toward Revenue Growth

Tuesday, April 26, 2022

Lee Enterprises, Inc. (LEE)
Digital To Drive Swing Toward Revenue Growth

Lee Enterprises Inc is a local news publication company in the United States. Its products include daily and Sunday newspapers, weekly newspapers and classified and few other specialty publications. Its products are used as a platform for advertising in mid-size markets. Revenues are generated primarily from retail and classifieds advertising and the remaining from subscriptions to its printed and digital products.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Noblecon 18 highlights. Kevin Mowbray, CEO, and Tim Millage, CFO highlighted its leading digital products and services. It is differentiated from its peers with industry leading digital subscription growth, strong digital advertising revenue from its digital agency business and compelling digital reach, with 47 million unique visitors each month. To watch a full replay of the presentation, please click here.

    Local focus driving subscriptions.  Management highlighted the company’s fast growing local market-focused digital subscription business. Lee’s digital subscription growth has outpaced Gannett and the New York Times for the last 9 quarters running. Lee already serves 450,000 digital-only subscribers, a 57% increase on a year-over-year basis …


This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

 

Bowlero (BOWL) – A Sanguine Outlook

Tuesday, April 26, 2022

Bowlero (BOWL)
A Sanguine Outlook

Bowlero Corp. is the worldwide leader in bowling entertainment. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. Bowlero Corp. is also home to the Professional Bowlers Association, which it acquired in 2019 and which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Noblecon 18 highlights.  Tom Shannon, CEO, provided a compelling update on the company’s recent success and planned developments. Some of the topics discussed include: the company’s compelling roll-up strategy, inflationary effects, continued COVID recovery, cost reductions, and the upcoming beta testing of new in-center features. The full video of the presentation can be found here.

    COVID recovery still a boost.  Bowlero experienced a favorable revenue rebound as the country emerged from lockdowns, with revenue growth 177% year-over-year in the most recent quarter. Those results, however, did not reflect a full recovery. Notably, the retail and event-driven businesses are now rebounding in locations like New York. This rebound could lead toward positive upside revenue and …


This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

 

Cumulus Media (CMLS) – Undervalued In Spite Of The Recent Move

Tuesday, April 26, 2022

Cumulus Media (CMLS)
Undervalued In Spite Of The Recent Move

CUMULUS MEDIA, Inc. (NASDAQ: CMLS) is a leading audio-first media and entertainment company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. CUMULUS MEDIA engages listeners with high-quality local programming through 428 owned-and-operated stations across 87 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYS, the American Country Music Awards, and many other world-class partners across nearly 8,000 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. CUMULUS MEDIA provides advertisers with local impact and national reach through on-air, digital, mobile, and voice-activated media solutions, as well as access to integrated digital marketing services, powerful influencers, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    NobleCon 18 highlights Frank Lopez-Balboa, CFO, and Collin Jones, Corporate Development, held a fireside chat and outlined its operational and debt reduction strategy. In addition, management highlighted an improved financial profile given a rebounding advertising environment. A replay of the company’s presentation may be found here.

    Recovery at full speed.  Management declared that advertising is recovering beyond pre-pandemic levels, thanks to emerging categories such as sports betting and crypto currencies, as well as a strong comeback in entertainment and finance ad categories. These trends offset auto, which is not expected to be rebound now until 2023. Additionally, in 2022, political revenue is expected to surpass the …


This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

 

Schwazze (SHWZ) – NobleCon 18 Presentation

Tuesday, April 26, 2022

Schwazze (SHWZ)
NobleCon 18 Presentation

Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    NobleCon 18. Schwazze CEO Justin Dye and CFO Nancy Huber presented at NobleCon 18. Management highlighted its vertically integrated seed to sale cannabis business, opportunity to create lasting brands, and growth opportunities. A rebroadcast is available here.

    Geographic Focus.  Schwazze is regionally focused, today on Colorado and New Mexico, with additional potential expansion into other southwestern states. Schwazze controls the leading position in Colorado and a top position in New Mexico. There remains an ability to continue to grow market share in each market, both organically and through acquisitions …


This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

 

Kelly Services (KELYA) – NobleCon 18 Presentation

Tuesday, April 26, 2022

Kelly Services (KELYA)
NobleCon 18 Presentation

Kelly Services Inc is a provider of workforce solutions and consulting and staffing services. The company’s operations are divided into three business segments namely Americas Staffing, Global Talent Solutions (“GTS”) and International Staffing. It provides staffing solutions through its branch networks in Americas and International operations and also provides a suite of innovative talent fulfilment and outcome-based solutions through GTS segment. Americas Staffing generates maximum revenue from its operations.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    NobleCon 18. Kelly Services CEO Peter Quigley and CFO Olivier Thirot presented at NobleCon 18. Highlights of the presentation were the recent Persol Holdings and PersolKelly sales, the RocketPower acquisition, and strategy for future acquisitions. A rebroadcast is available here.

    More Cash in the Pocket.  The Company highlighted their recent sale of Persol Holdings common shares and PersolKelly joint venture interest. Both these sales accumulated roughly $235 million, net of repurchases of common shares. This additional cash will prove to be beneficial, in our view, as the Company is aggressively looking for companies to purchase …


This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

 

Motorsport Games (MSGM) – Rating Upgrade Based On Price Considerations

Tuesday, April 26, 2022

Motorsport Games (MSGM)
Rating Upgrade Based On Price Considerations

Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), across PC, PlayStation, Xbox, Nintendo Switch and mobile. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. The company’s IPO was in January 2021, and it is headquartered in Miami, FL. For more information about Motorsport Games, visit www.motorsportgames.com.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    NobleCon18 highlights. Dmitry Kozko, CEO, provided an optimistic tone as the company navigates the disappointing performance of NASCAR Ignition launch and prepares for the launch of several game franchises over the next year. He appeared to be sanguine about the firm’s capability to rebound given a favorable long-term, 10-year runway for its licenses. A replay of his presentation may be found here.

    Roadmap still on track.  The company plans to release new franchises in 2023 such as NASCAR (new mobile title), 24 Hours of Le Mans ’23, and INDYCAR ’23. Given disruptions to the company’s Moscow development team due to Russian sanctions, the timeline is favorable and appears to be on track …


This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.