Welcome to Broyhill's Equity Highlights, where we share a few quick takes on recent news across the portfolio every month.
We aim to make these highlights easy to read and easy to repeat. Feel free to share our work!
Fiserv Chairman, President and Chief Executive Officer, Frank Bisignano Nominated as Commissioner, Social Security Administration. Mr. Bisignano, the longtime CEO of First Data and now Fiserv, agreed to seek confirmation for his potentially new post as Commissioner of the Social Security Administration. The stock reacted negatively on the day as shareholders, including us, would be sad to see him go.
Haypp Group: Rerouting. Haypp was recently faced with a flurry of regulatory challenges. The state of California banned the sale of online flavored nicotine, prompting Haypp to halt sales to the state outright. This comes at the same time the Swedish government decided to ban snus in Sweden. Despite these setbacks, the growth profile for RRPs remains robust and we expect increasing scale to continue to drive margin expansion. Friend of the firm, Devin LaSarre frequently writes about tobacco names like Haypp and PM on his substack. Check him out!
Six Flags to Invest More Than $1 Billion Over the Next Two Years to Enhance Guest Experience. After merging with Cedar Fair earlier this year, Six Flags announced it would invest $1B in enhancing the guest experience. Legacy Six Flags has underinvested in its parks for quite some time. We expect these investments to translate to improved admissions and look forward to testing the new waterslide at Carowinds!
Disclosures
