TimesSquare Capital Management, an equity investment management company, released its “U.S. Small/Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 2500 Growth Index and returned 6.03% (gross), and the index return was 4.72%. For the full year, the strategy return was -25.06% (gross) compared to a -26.21% return for the benchmark. The relative weakness in the Information Technology and Energy sectors in the quarter was offset by strength in the Financials, Consumer Discretionary, Health Care, and Industrials sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare U.S. Small/Mid Cap Growth Strategy highlighted stocks like Flywire Corporation (NASDAQ:FLYW) in its Q4 2022 investor letter. Headquartered in Boston, Massachusetts, Flywire Corporation (NASDAQ:FLYW) is a payments enablement and software company. On March 22, 2023, Flywire Corporation (NASDAQ:FLYW) stock closed at $27.86 per share. One-month return of Flywire Corporation (NASDAQ:FLYW) was 13.07%, and its shares lost 0.85% of their value over the last 52 weeks. Flywire Corporation (NASDAQ:FLYW) has a market capitalization of $3.115 billion.
TimesSquare U.S. Small/Mid Cap Growth Strategy made the following comment about Flywire Corporation (NASDAQ:FLYW) in its Q4 2022 investor letter:
“New to the strategy this quarter is Flywire Corporation (NASDAQ:FLYW), a global payments platform focused on education, health care, and travel industries. The company operates in targeted vertical markets providing both the payment software and handling cross-border payments. Flywire’s management team has met its strategic targets since the company’s IPO in 2021 and we believe they are well-positioned to continue growing the business from current operations and future adjacent areas.”
Flywire Corporation (NASDAQ:FLYW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Flywire Corporation (NASDAQ:FLYW) at the end of the fourth quarter which was 19 in the previous quarter.
We discussed Flywire Corporation (NASDAQ:FLYW) in another article and shared the list of high growth IT stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
