Libsyn is a podcast service provider offering all-in-one hosting and distribution tools.
We initially came to light of Liberated Syndication back in early 2018 and decided to invest in the name in the 2nd quarter of 2018. Initially the company was growing sales at 20% and made an acquisition of a website company named Pair, which they believed would help provide better scale and service. All good things in our opinion.
Management of the company has been suspect since our initial investment but a firm named Camac (who holds a sizeable stake) is requesting management heed its advice. This is good news for shareholders of LSYN as we believe Camac is correct in their assessment.
Another positive for the stock going forward is the possibility of uplisting to the NASDAQ. Management has been talking about this for some time now but it has never come to fruition - our hope is that it will soon. Lastly, there is potential for Libsyn to be acquired since it currently has a market cap under $70 million. Our target on the name is above the current price of $2.45 as we look forward to the positive improvements Camac will bring to LSYN as well as the other potential catalysts listed above.
Disclosure: Castle Hill and/or others we advise may hold a material investment in the issuer's securities and may trade into or out of these securities at any time.