Here’s Why Lindblad Expeditions Holdings (LIND) Traded Higher in Q4

Ariel Investments, an investment management company, released its “Ariel Small Cap Value Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The Ariel Small Cap Value Tax-Exempt Composite rose +13.24% gross of fees (+12.96% net of fees) in the quarter, underperforming both the Russell 2000 Value Index and the Russell 2000 Index, which returned +15.26% and +14.03%, respectively. During the year the strategy returned +17.93% gross of fees (+16.76% net...