Professional
Added to YB: 2024-10-31
Pitch date: 2024-10-30
BWIN [bearish]
The Baldwin Insurance Group, Inc.
+52.1%
current return
Author Info
No bio for this author
Company Info
The Baldwin Insurance Group, Inc. operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States.
Market Cap
$2.0B
Pitch Price
$46.64
Price Target
N/A
Dividend
N/A
EV/EBITDA
19.91
P/E
-64.90
EV/Sales
2.76
Sector
Insurance
Category
special_situation
Blue Orca is Short Baldwin Insurance Group, Inc. (NASDAQ: BWIN)
BWIN short: Insurance rollup using questionable financial engineering to inflate EBITDA (+50%) & OCF (+252%). Acquires agents already working for them. Key underwriter QBE leaving Westwood (main EBITDA driver) in 2025, undisclosed to investors. Chronic unprofitability & high leverage hidden by accounting tricks.
Read full article (2 min)