Should You Hold CoreCard Corp. (CCRD)?

Weitz Investment Management, an investment management firm, released its “Partners III Opportunity Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund’s Institutional Class returned +8.03% compared to an +8.39% return for the Russell 3000 Index. The Fund’s Institutional Class has returned +11.33% year-to-date compared to +16.17% return for the benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Weitz Partners III Opportunity Fund highlighted stocks like CoreCard Corporation (NYSE:CCRD) in the second quarter 2023 investor letter. Headquartered in Norcross, Georgia, CoreCard Corporation (NYSE:CCRD) provides technology solutions and processing services. On August 7, 2023, CoreCard Corporation (NYSE:CCRD) stock closed at $23.05 per share. One-month return of CoreCard Corporation (NYSE:CCRD) was -3.18%, and its shares lost 12.15% of their value over the last 52 weeks. CoreCard Corporation (NYSE:CCRD) has a market capitalization of $190.249 million.

Weitz Partners III Opportunity Fund made the following comment about CoreCard Corporation (NYSE:CCRD) in its second quarter 2023 investor letter:

“Among the Fund’s long holdings, Perimeter Solutions SA (PRM), CoreCard Corporation (NYSE:CCRD), and Liberty Global plc (LBTYK US) were our top quarterly detractors. CoreCard continues to benefit from growing payment volumes from existing customers and is winning new business from smaller issuers. However, management’s characteristically frank commentary downplaying the potential of larger new business wins in 2023 has weighed on the stock.”

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CoreCard Corporation (NYSE:CCRD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 6 hedge fund portfolios held CoreCard Corporation (NYSE:CCRD) at the end of first quarter which was 9 in the previous quarter.

We discussed CoreCard Corporation (NYSE:CCRD) in another article and shared Long Cast Advisers’ views on the company. In addition, please check out our hedge fund investor letters Q2 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.