Is Ecovyst (ECVT) Stock Undervalued?

Investment management company Cove Street Capital recently released its “Small Cap Value Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 2.83% compared to 2.74% for the Russell 2000 Index and -0.66% for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Cove Street Capital Small Cap Value Fund highlighted stocks like Ecovyst Inc. (NYSE:ECVT) in the first quarter 2023 investor letter. Headquartered in Malvern, Pennsylvania, Ecovyst Inc. (NYSE:ECVT) provides specialty catalysts and services. On April 10, 2023, Ecovyst Inc. (NYSE:ECVT) stock closed at $10.93 per share. One-month return of Ecovyst Inc. (NYSE:ECVT) was 5.50%, and its shares lost 2.41% of their value over the last 52 weeks. Ecovyst Inc. (NYSE:ECVT) has a market capitalization of $1.347 billion.

Cove Street Capital Small Cap Value Fund made the following comment about Ecovyst Inc. (NYSE:ECVT) in its Q1 2023 investor letter:

Ecovyst Inc. (NYSE:ECVT) rebounded after the “end” of a series of very annoying secondary offerings by its Private Equity sponsor. It is another terrific business model with good organic growth that is being competently managed. It remains very undervalued, even still, and one of our largest holdings.”

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Ecovyst Inc. (NYSE:ECVT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Ecovyst Inc. (NYSE:ECVT) at the end of the fourth quarter which was 22 in the previous quarter.

We discussed Ecovyst Inc. (NYSE:ECVT) in another article and shared Cove Street Capital’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 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.