Is it a Wise Choice to Invest in MYR Group (MYRG)?

Third Avenue Management, an investment management firm, published its “Small-Cap Value Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The Third Avenue Small-Cap Value Fund (the “Fund”) declined 0.44% during the first quarter of 2022 versus a decline of 2.40% for the Fund’s most relevant benchmark, the Russell 2000 Value Index¹ (the “Index”). Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Third Avenue Management Small-Cap Value Fund mentioned MYR Group Inc. (NASDAQ:MYRG) and explained its insights for the company. Founded in 1995, MYR Group Inc. (NASDAQ:MYRG) is a Henderson, Colorado-based holding company with a $1.3 billion market capitalization. MYR Group Inc. (NASDAQ:MYRG) delivered a -22.29% return since the beginning of the year, while its 12-month returns are down by -5.28%. The stock closed at $81.63 per share on June 16, 2022.

Here is what Third Avenue Management Small-Cap Value Fund has to say about MYR Group Inc. (NASDAQ:MYRG) in its Q1 2022 investor letter:

“The Fund’s compounder category (or “bucket”) includes companies such as MYR Group (NASDAQ:MYRG, engineering and construction). We believe balance sheet strength and prudent capital allocation should allow these companies to compound NAV for many years to come. Financial services companies are roughly 45% of the compounder category and largely comprised of well-capitalized regional banks which make up 21% of the total portfolio.”

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Our calculations show that MYR Group Inc. (NASDAQ:MYRG) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. MYR Group Inc. (NASDAQ:MYRG) was in 14 hedge fund portfolios at the end of the first quarter of 2022, compared to 15 funds in the previous quarter. MYR Group Inc. (NASDAQ:MYRG) delivered a -13.46% return in the past 3 months.

In July 2021, we also shared another hedge fund’s views on MYR Group Inc. (NASDAQ:MYRG) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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