Record Q2 Revenue and Operating Profit Pushed Brink’s Company (BCO) in Q3

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 The Brink’s Company (NYSE:BCO) in the third quarter 2023 investor letter. Headquartered in Richmond, Virginia, The Brink’s Company (NYSE:BCO) offers security-related services like secure transportation and cash management. On December 11, 2023, The Brink’s Company (NYSE:BCO) stock closed at $85.15 per share. One-month return of The Brink’s Company (NYSE:BCO) was 9.77%, and its shares gained 45.31% of their value over the last 52 weeks. The Brink’s Company (NYSE:BCO) has a market capitalization of $3.836 billion.

Ariel Small Cap Value Strategy made the following comment about The Brink’s Company (NYSE:BCO) in its Q3 2023 investor letter:

“Logistics and cash management services provider, The Brink’s Company (NYSE:BCO), also traded higher in the period on an earnings beat, highlighted by record second quarter revenue and operating profit. Management reaffirmed full-year guidance and remains focused on improving the customer experience, enhancing productivity, driving additional growth through digital retail solutions and ATM managed services, as well as improving free cash flow conversion. At today’s valuation, BCO still trades at a discount to our estimate of private market value.”

A convoy of armored vehicles leaving a bank, demonstrating the company’s specialized security services.

The Brink’s Company (NYSE:BCO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held The Brink’s Company (NYSE:BCO) at the end of third quarter which was 18 in the previous quarter.

We discussed The Brink’s Company (NYSE:BCO) in another article and shared the list of best video surveillance and private security 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.