Several Factors Contributed to the Decline of U.S. Physical Therapy (USPH) in Q3

Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Small Cap Fund” third quarter 2022 investor letter. You can download a copy of the same here. The fund underperformed in the quarter relative to its Russell 2000 Growth Index benchmark. Macroeconomic headwinds affected the performance of the fund in the quarter. As per the letter, investors prefer growth stocks to value stocks, as small-cap growth stocks outperformed small-cap value stocks during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like U.S. Physical Therapy, Inc. (NYSE:USPH) in its Q3 2022 investor letter. Based in Houston, Texas, U.S. Physical Therapy, Inc. (NYSE:USPH) operates outpatient physical therapy clinics. On December 30, 2022, U.S. Physical Therapy, Inc. (NYSE:USPH) stock closed at $81.03 per share. One-month return of U.S. Physical Therapy, Inc. (NYSE:USPH) was -10.87%, and its shares lost 15.20% of their value over the last 52 weeks. U.S. Physical Therapy, Inc. (NYSE:USPH) has a market capitalization of $1.054 billion.

Carillon Tower Advisers made the following comment about U.S. Physical Therapy, Inc. (NYSE:USPH) in its Q3 2022 investor letter:

“U.S. Physical Therapy, Inc. (NYSE:USPH) operates in two business segments: outpatient physical therapy and industrial injury prevention services. Weak quarterly earnings and poor guidance due to aggressive hiring and interest costs hurt profitability. The company swapped floating-rate debt into fixed-rate debt, reducing interest rate volatility but increasing near-term cost.”

U.S. Physical Therapy, Inc. (NYSE:USPH) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 11 hedge fund portfolios held U.S. Physical Therapy, Inc. (NYSE:USPH) at the end of the third quarter, which was 11 in the previous quarter.

We discussed U.S. Physical Therapy, Inc. (NYSE:USPH) in another article and shared Conestoga Capital Advisors views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 15 Most Widely Held Stocks by Individuals
• Citadel Stock Holdings
• 12 Stocks That Benefit From Rising Interest Rates

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