Investment management company Cove Street Capital recently released its “Small Cap Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the second quarter, the fund returned -13.70% compared to -17.20% for the Russell 2000 Index and -15.28% for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
In the second quarter investor letter, Cove Street Capital discussed stocks like InfuSystem Holdings, Inc. (NYSE:INFU). Headquartered in Rochester Hills, Michigan, InfuSystem Holdings, Inc. (NYSE:INFU) is in the business of healthcare and provides infusion pumps and related products. On August 26, 2022, InfuSystem Holdings, Inc. (NYSE:INFU) stock closed at $7.70 per share. One-month return of InfuSystem Holdings, Inc. (NYSE:INFU) was -21.19%, and its shares lost 45.89% of their value over the last 52 weeks. InfuSystem Holdings, Inc. (NYSE:INFU) has a market capitalization of $159.35 million.
Here is what Cove Street Capital specifically said about InfuSystem Holdings, Inc. (NYSE:INFU):
“We recently built a position in InfuSystem Holdings, Inc. (NYSE:INFU), a leading provider of ambulatory infusion pumps that are primarily used to administer chemotherapy drugs to patients, taking advantage of a large block of stock being offered in the market at a discount. INFU’s core pump business grows at a steady market rate of 1% to 5%, and the company is now using the cash flow generated by this business to enter adjacent segments. One natural extension is INFU’s Biomedical Services business, which has seen significant growth. The company recently entered into a large deal with GE Healthcare to manage their 300,000+ infusion pump fleet. Also, in early 2020 INFU partnered with Cardinal Health to build a Negative Pressure Wound Therapy (NPWT) business, which they recently launched. The price that we paid for the shares reflects a fair value for its underlying core pump business, and we get a free option on value created by any additional businesses, including NPWT.”
InfuSystem Holdings, Inc. (NYSE:INFU) is not on the list of 30 Most Popular Stocks Among Hedge Funds. InfuSystem Holdings, Inc. (NYSE:INFU) was held by 13 hedge fund portfolios at the end of the second quarter compared to 10 in the previous quarter.
We discussed InfuSystem Holdings, Inc. (NYSE:INFU) in another article and shared the best stock picks of Minerva Advisors. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.
Disclosure: None. This article is originally published at Insider Monkey.
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