Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Value Fund” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund fell -3.13%, underperforming its benchmark index, the Russell Microcap Index, which declined -0.48%. Holdings in information technology, consumer discretionary, and zero exposure to the real estate sector were the sources of the fund’s strength in the quarter. In contrast, stock selection in health care and consumer staples and overweight position in industrials dragged the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Global Investors highlighted stocks like CS Disco, Inc. (NYSE:LAW) in its Q3 2022 investor letter. Headquartered in Austin, Texas, CS Disco, Inc. (NYSE:LAW) is a legal technology company. On December 30, 2022, CS Disco, Inc. (NYSE:LAW) stock closed at $6.32 per share. One-month return of CS Disco, Inc. (NYSE:LAW) was -11.98% and its shares lost 81.69% of their value over the last 52 weeks. CS Disco, Inc. (NYSE:LAW) has a market capitalization of $373.119 million.
Wasatch Global Investors made the following comment about CS Disco, Inc. (NYSE:LAW) in its Q3 2022 investor letter:
“Regarding new positions during the third quarter, we purchased CS Disco, Inc. (NYSE:LAW), a legal-technology company that provides a cloud-based platform of artificial-intelligence-powered legal solutions for e-discovery, legal-document review and case management. Because the company has a limited history as a publicly traded firm and is spending cash aggressively to fund its growth, skeptical investors drove down the stock price earlier in the year as economic uncertainty rose. We took advantage of what we think will prove to be temporary price weakness. Our view is that CS Disco’s large cash position will enable the company to realize the market opportunity for its cloud-based platform—which we believe has the potential to make the legal industry much more efficient.”
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CS Disco, Inc. (NYSE:LAW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 7 hedge fund portfolios held CS Disco, Inc. (NYSE:LAW) at the end of the third quarter, which was 8 in the previous quarter.
We discussed CS Disco, Inc. (NYSE:LAW) in another article and shared new stock stock picks of billionaire Rob Citrone. In addition, please check out our hedge fund investor letters Q3 2022 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.
