Is Momentive Global (MNTV) A Smart Long-Term Buy?

ClearBridge Investments, an investment management firm, published its “Mid Cap Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Mid Cap Strategy outperformed its Russell Midcap Index during the third quarter. On an absolute basis, the Strategy had gains across eight of the 11 sectors in which it was invested during the quarter. The leading contributors were the health care and financials sectors while consumer discretionary was the primary detractor. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

ClearBridge Mid Cap Strategy, in its Q3 2021 investor letter, mentioned Momentive Global Inc. (NASDAQ: MNTV) and discussed its stance on the firm. Momentive Global Inc. is a San Mateo, California-based software company with a $3.0 billion market capitalization. MNTV delivered a -3.26% return since the beginning of the year, while its 12-month returns are down by -23.51%. The stock closed at $20.46 per share on January 03, 2022

Here is what ClearBridge Mid Cap Strategy has to say about Momentive Global Inc.  in its Q3 2021 investor letter:

“During the quarter we also initiated a position in Momentive Global in the IT sector. Known for its online survey brand Survey Monkey, Momentive is capitalizing on the growing importance of customer feedback, market research and employee engagement. Momentive’s competitive positioning through low-cost pricing has helped it achieve strong brand recognition, with its business enterprise division generating high growth rates and attractive incremental margins.”

Photo by Austin Distel on Unsplash

Based on our calculations, Momentive Global Inc. (NASDAQ: MNTV) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. MNTV was in 27 hedge fund portfolios at the end of the third quarter of 2021, compared to 28 funds in the previous quarter. Momentive Global Inc. (NASDAQ: MNTV) delivered a 2.76% return in the past 3 months.

You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

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