Here’s Why You Should Consider Buying Matterport (MTTR) Shares

Miller Value Partners, an investment management firm, published its “Miller Opportunity Equity” fourth quarter 2021 investor letter – a copy of which can be seen here. A quarterly net decline of 4.29% has been recorded by the fund for the fourth quarter of 2021, compared to the S&P 500 Index’s 28.71% gain for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Miller Opportunity Equity, in its Q4 2021 investor letter, mentioned Matterport, Inc. (NASDAQ: MTTR) and discussed its stance on the firm. Matterport, Inc. is a Sunnyvale, California-based spatial data company with a $2.1 billion market capitalization. MTTR delivered a -59.40% return since the beginning of the year, while its 12-month returns are down by -31.65%. The stock closed at $8.38 per share on February 4, 2022.

Here is what Miller Opportunity Equity has to say about Matterport, Inc. in its Q4 2021 investor letter:

“Matterport Inc. (MTTR) continued to be a strong contributor during the quarter after Matterport’s ability to contribute to the building of the metaverse was brought to light. The company reported 3Q results that missed consensus due to unexpected supply constraints and labor shortage in its capture services. The company reported total sales of $27.7M below consensus of $29.1M but with gross profit beating coming in at $15.2M versus $15.1M expected leading to an EPS loss of -$0.06 slightly better than consensus of -$0.07. The company lowered full-year revenue guidance to $107-110M down from $120-126M previously while also lowering FY22 topline guidance to 50% growth from 65% at the time of the PIPE transaction due to continuing supply constraints and labor shortage.”

REDPIXEL.PL/Shutterstock.com

Our calculations show that Matterport, Inc. (NASDAQ: MTTR) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. MTTR was in 22 hedge fund portfolios at the end of the third quarter of 2021, compared to 0 funds in the previous quarter. Matterport, Inc. (NASDAQ: MTTR) delivered a -61.98% return in the past 3 months.

In November 2021, we also shared another hedge fund’s views on MTTR in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.