ClearBridge Investments, an investment management firm, published its “Small Cap Value Strategy” third-quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Small Cap Value Strategy underperformed its Russell 2000 Value Index benchmark during the third quarter. On an absolute basis, the Strategy had losses in eight out of 11 sectors in which it was invested during the quarter. The leading detractors were the IT and financial sectors while the energy, consumer staples, and healthcare sectors were the positive contributors. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.
In its Q3 2022 investor letter, ClearBridge Small Cap Value Strategy mentioned Anterix Inc. (NASDAQ:ATEX) and explained its insights for the company. Founded in 1999, Anterix Inc. (NASDAQ:ATEX) is a New Jersey-based wireless communications applications provider with a $669.8 million market capitalization. Anterix Inc. (NASDAQ:ATEX) delivered a -39.87% return since the beginning of the year, while its 12-month returns are down by -44.05%. The stock closed at $35.33 per share on November 09, 2022.
Here is what ClearBridge Small Cap Value Strategy has to say about Anterix Inc. (NASDAQ:ATEX) in its Q3 2022 investor letter:
“We also seized the opportunity to add Anterix (NASDAQ:ATEX), in the communications services sector, which owns nationwide wireless spectrum. The company believes its holdings at the 900MHz frequency are ideally suited to create private LTE networks for infrastructure assets, namely utilities, and it has only just started licensing its spectrum under very long-term agreements, with three contracts signed thus far. We believe these deals are just the beginning, and the value of Anterix’s spectrum greatly exceeds that implied by the stock price.”
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Our calculations show that Anterix Inc. (NASDAQ:ATEX) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Anterix Inc. (NASDAQ:ATEX) was in 13 hedge fund portfolios at the end of the second quarter of 2022, compared to 16 funds in the previous quarter. Anterix Inc. (NASDAQ:ATEX) delivered a -25.31% return in the past 3 months.
In August 2022, we also shared another hedge fund’s views on Anterix Inc. (NASDAQ:ATEX) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.
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Disclosure: None. This article is originally published at Insider Monkey.
