Diamond Hill Capital, an investment management company, released its “Small Cap Fund” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. The market delivered positive returns in a volatile first quarter across most regions. Diamond Hill Small Cap Fund outperformed its benchmark, the Russell 2000 Index, in Q1 and returned 7.11% while the benchmark return was 5.18% during the same period. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Diamond Hill Small Cap Fund featured stocks like WNS (Holdings) Limited (NYSE:WNS) in the first quarter 2024 investor letter. Headquartered in Mumbai, India, WNS (Holdings) Limited (NYSE:WNS) is a business process management (BPM) company. On May 13, 2024, WNS (Holdings) Limited (NYSE:WNS) stock closed at $50.46 per share. One-month return of WNS (Holdings) Limited (NYSE:WNS) was 8.38%, and its shares lost 27.90% of their value over the last 52 weeks. WNS (Holdings) Limited (NYSE:WNS) has a market capitalization of $2.33 billion.
Diamond Hill Small Cap Fund stated the following regarding WNS (Holdings) Limited (NYSE:WNS) in its first quarter 2024 investor letter:
“Our bottom individual contributors in Q1 included WNS (Holdings) Limited (NYSE:WNS), as well as regional banks Live Oak Bancshares and Bank OZK. Shares of India-based business process management company WNS Holdings declined in the wake of a large client’s decision to part ways with WNS. Though the decision was unrelated to artificial intelligence (AI), the move renewed concerns about how AI will ultimately affect the company. However, we believe WNS’s business process management solutions and its ability to implement AI capabilities on clients’ behalf are more valuable than is currently reflected in the share price, and we continue to believe the outlook from here is favorable.”
An IT professional working with a laptop in a modern, urban office.
WNS (Holdings) Limited (NYSE:WNS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held WNS (Holdings) Limited (NYSE:WNS) at the end of the fourth quarter which was 16 in the previous quarter.
In another article we discussed about WNS (Holdings) Limited (NYSE:WNS) and shared TimesSquare Capital U.S. Small Cap Growth Strategy’s views on the company. WNS (Holdings) Limited (NYSE:WNS) stock fell -8% in the last quarter. Diamond Hill Small Cap Fund stated in the Q4 2023 letter that investors believe WNS (Holdings) Limited (NYSE:WNS) is lagging behind generative artificial intelligence (AI) race, however, the fund continued its confidence in the company. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- Mario Gabelli on Paramount and Other Stocks
- 15 Countries that Produce the Most Biomass Energy in the World
- 14 Best Long-Term Dividend Stocks To Buy Now
Disclosure: None. This article is originally published at Insider Monkey.
