HFRO

Highland Income Fund

Credit, Finance/Real Estate


Presented:05/23/2019
Price:13.34
Cap:N/A
Current Price:$5.85
Cap:N/A

Presented

Date05/23/2019
Price13.34
Market CapN/A
Ent ValueN/A
P/E RatioN/A
Book ValueN/A
Div Yield6.93%
Shares O/SN/A
Ave Daily Vol155,504
Short IntN/A

Current

Price$5.85
Market CapN/A

Publicly listed companies mentioned herein: Credit Suisse Group AG (CS), Highlands Income Fund (HFRO)

Highlights

The presenter is long shares of closed-end fund HFRO, which is currently trading ~9% below NAV, citing a “free call option” on the outcome of ongoing litigation against Credit Suisse (CS). CS is being accused of breaching its contractual obligations and manipulating the appraisal value of the Lake Las Vegas project, which Highland Capital Management was involved in. Highland won the litigation in the lower courts, and this ruling was upheld unanimously by the Texas Court of Appeals.

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Idea Discussion

Commentor 1 - 2 weeks ago

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