Mayar Capital, an asset management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. Mayar Fund (Class A) was down 12.54% net of all fees and expenses in the second quarter. The fund has increased 161.23% since its inception in May 2011. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
In the second quarter investor letter, Mayar Capital discussed stocks like Bright Horizons Family Solutions Inc. (NYSE:BFAM). Headquartered in Newton, Massachusetts, Bright Horizons Family Solutions Inc. (NYSE:BFAM) is an early education and childcare providing company. On September 1, 2022, Bright Horizons Family Solutions Inc. (NYSE:BFAM) stock closed at $67.23 per share. One-month return of Bright Horizons Family Solutions Inc. (NYSE:BFAM) was -15.72% and its shares lost 53.69% of their value over the last 52 weeks. Bright Horizons Family Solutions Inc. (NYSE:BFAM) has a market capitalization of $3.887 billion.
Here is what Mayar Capital specifically said about Bright Horizons Family Solutions Inc. (NYSE:BFAM):
“Recent market volatility has given us some excellent investment opportunities this quarter. We initiated a new investment in the shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM)Those who attended our Annual Investors Meeting on July 6th will have heard Aubrey’s exposition of our thesis. For those who missed it, I recommend watching the playback at www.mayarcapital.com/events.
In short, this is a business we’ve long been interested in owning but were never offered a compelling-enough price until now. The company operates childcare facilities in the US with a sizeable UK business and a small but growing presence in several other countries. Bright Horizons is the number three player in a highly fragmented market and, crucially, it’s the largest provider of employee-sponsored childcare. Many of its centers are currently under-earning as they recover from the pandemic as well as the natural ramp-up in new centers.
We think we have relatively high visibility on its underlying earning power and near-term growth, which has not been priced in by the market. We also believe that the company has strong pricing power – a very important attribute in today’s inflationary environment”
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Bright Horizons Family Solutions Inc. (NYSE:BFAM) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Bright Horizons Family Solutions Inc. (NYSE:BFAM) was held by 23 hedge fund portfolios at the end of the second quarter compared to 21 in the previous quarter.
We discussed Bright Horizons Family Solutions Inc. (NYSE:BFAM) in another article and shared Upslope Capital Management’s views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.
Disclosure: None. This article is originally published at Insider Monkey.
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