Ariel Investments, an investment management company, released its “Ariel Small Cap Value Strategy” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The Ariel Small Cap Value Tax-Exempt Composite declined -7.53% gross of fees (-7.76% net of fees) in the quarter underperforming both the Russell 2000 Value Index and the Russell 2000 Index, which returned -2.96% and -5.13%, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Small Cap Value Strategy highlighted stocks like Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in the Q3 2023 investor letter. Headquartered in Miami, Florida, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is a cruise company. On December 12, 2023, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) stock closed at $18.45 per share. One-month return of Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) was 25.68%, and its shares gained 22.35% of their value over the last 52 weeks. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) has a market capitalization of $7.849 billion.
Ariel Small Cap Value Strategy made the following comment about Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in its Q3 2023 investor letter:
“Lastly, Cruise ship operator, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) traded lower in the quarter. The stocks strong price appreciation ̶up 34.64% year-to-date ̶ drove profit taking following an underwhelming outlook relative to Royal Caribbean Group’s upward guidance revision. Notably, NCLH continues to deliver record cumulative bookings as well as increased occupancy capacity at higher prices. The company remains focused on right sizing its cost base and improving margins to strengthen its foundation for sustainable and profitable growth. Meanwhile, the company executed on its leadership succession plan, with 15-year veteran, Harry J. Sommer’s recent appointment to CEO. With an experienced management team at its helm, a young average fleet and solid liquidity position, we remain enthusiastic about the name.”
A luxurious cruise ship overlooking a stunning horizon, highlighting the variety of its itineraries.
Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) at the end of third quarter which was 35 in the previous quarter.
We discussed Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in another article and shared the list of best high beta stocks to buy. In addition, please check out our hedge fund investor letters Q3 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.
