It looks to me like a ben graham style stock to me. It's at the very least a cigar butt. And probably more.
The high yield looks like it'll drop in the near future, but this is a good thing, given the company's growth seems to be primarily aquisition based and the market is looking more and more affordable if they were to go for a small cap(unlikely, but possible). I wouldn't be surprised if the board changes to releasing dividends only based on profits, instead of dumping the held cash. Their policy of returning more than 70%+ of the profits as dividents would be better as 50%, but you can't win them all.
Most important of all, I don't see the company going belly up any time soon. And it's cap/tangible book makes it look pretty good especially in this market.
HNG Price at posting:
74.0¢ Sentiment: LT Buy Disclosure: Held
