Definitely not a huge growth story IMO
I think they might be able to surprise in the next few years on the upside. Just might. Not will.
And with a MC of $18 am satisfied to hold longterm but am cautious.
Probably happy to hold because of the attractive dividend yield at these prices coupled with potential for growth with Earlypay .... BUT as you mentioned there has been dilution in the past year SO that growth is going to have be good enough to overcome this dilution.
I have been flip-flopping about selling or not the last few months, especially with better growth stories out there, but maybe against my better judgement will stay for a while longer.
Another thing, since earnings are off a relatively low base of $1.1m, getting good enough growth in earnings to justify a rise in EPS with dilution, probably isn't unrealistic at all.
Another thing, I am liking the price/volume action the last week or so. There has been an attempt to sell this down but it has rebounded well. And the buy side is quite impressive right now so I think we have found a bottom ... just don't expect a rapid rise.
