Exit ET (Evertz)

I exited Evertz at 13.68. When I was building the position, alternative names were very expensive and now valuations have contracted and their growth opportunity is more visible than Evertz. I looked at Evertz as a better than cash return which is has been solely due to dividends (the stock is at similar levels as the previous special dividend in 2021) but it hasn’t delivered growth as hoped despite those 2 massive orders 3 years ago and a quiet mention of an order of broadcast trucks for Amazon management does little give investors confidence. Inconsistent results can make the stock more vulnerable to selloffs and better results haven’t resulted in material upside and the special dividend is now in the rearview mirror until the next one in a few years. I don’t think it’s a terrible investment from here but I’m looking at more interesting opportunities while management remains tone deaf to minority investors.