Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Value Fund” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund fell -3.13%, underperforming its benchmark index, the Russell Microcap Index, which declined -0.48%. Holdings in information technology, consumer discretionary, and zero exposure to the real estate sector were the sources of the fund’s strength in the quarter. In contrast, stock selection in health care and consumer staples and overweight position in industrials dragged the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Global Investors highlighted stocks like Napco Security Technologies, Inc. (NASDAQ:NSSC) in its Q3 2022 investor letter. Headquartered in Amityville, New York, Napco Security Technologies, Inc. (NASDAQ:NSSC) is an electronic security product manufacturer and distributor. On December 30, 2022, Napco Security Technologies, Inc. (NASDAQ:NSSC) stock closed at $27.48 per share. One-month return of Napco Security Technologies, Inc. (NASDAQ:NSSC) was 5.41% and its shares gained 12.46% of their value over the last 52 weeks. Napco Security Technologies, Inc. (NASDAQ:NSSC) has a market capitalization of $1.01 billion.
Wasatch Global Investors made the following comment about Napco Security Technologies, Inc. (NASDAQ:NSSC) in its Q3 2022 investor letter:
“Another meaningful contributor was Napco Security Technologies, Inc. (NASDAQ:NSSC). The company offers electronic security systems for access control, alarm warnings and video surveillance. With component prices elevated because of supply-chain constraints, Napco chose to temporarily sacrifice gross margins on its systems hardware in order to take market share from competitors. This strategy has now paid off in the form of higher-margin recurring revenues from the company’s growing installed base. Meanwhile, Napco has boosted hardware profitability through strategic price increases and improvements to the supply chain as demand remains strong, particularly in its school-security business.”
Phovoir/Shutterstock.com
Napco Security Technologies, Inc. (NASDAQ:NSSC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Napco Security Technologies, Inc. (NASDAQ:NSSC) at the end of the third quarter, which was 8 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- George Soros Net Worth and Top Holdings
- 12 Best Performing Growth Stocks in 2022
- Ken Fisher’s Growth Stocks
Disclosure: None. This article is originally published at Insider Monkey.
