Chartwell Investment Partners, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Chartwell Small Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund slightly underperformed relative to its benchmark Russell 2000 Growth Index. The letter noted that although there is a positive momentum in the US market, still there are many challenges that slow growth. 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 Rapid7, Inc. (NASDAQ:RPD) in its Q3 2022 investor letter. Headquartered in Boston, Massachusetts, Rapid7, Inc. (NASDAQ:RPD) is a cyber security solutions provider. On December 12, 2022, Rapid7, Inc. (NASDAQ:RPD) stock closed at $36.10 per share. One-month return of Rapid7, Inc. (NASDAQ:RPD) was 16.75% and its shares lost 68.15% of their value over the last 52 weeks. Rapid7, Inc. (NASDAQ:RPD) has a market capitalization of $2.138 billion.
Carillon Tower Advisers made the following comment about Rapid7, Inc. (NASDAQ:RPD) in its Q3 2022 investor letter:
“The Fund’s largest underperformer was Rapid7, Inc. (NASDAQ:RPD). Rapid7 is a software company focused on enterprise cybersecurity. The company reported a mixed second quarter, meeting expectations for revenues and margins. The management team’s commentary was cautious however, as they stated that the current macro environment is leading to an elongated sales cycle, particularly in Europe. Also an important segment of their offerings, Vulnerability Management, is showing a modest growth deceleration. Overall the entire software sector is under pressure as valuation is being compressed across the board. Given that cybersecurity software companies still have the best visibility within the software industry going forward, and since we want to maintain some software exposure within the portfolio, we are maintaining our position in Rapid7.”
Copyright: daviles / 123RF Stock Photo
Rapid7, Inc. (NASDAQ:RPD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Rapid7, Inc. (NASDAQ:RPD) at the end of the third quarter, which was 22 in the previous quarter.
We discussed Rapid7, Inc. (NASDAQ:RPD) in another article and shared ClearBridge Investments’ 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:
- 10 Youngest Hedge Fund Billionaires
- 15 Countries That Produce the Most Oil
- 11 Undervalued Canadian Stocks To Buy
Disclosure: None. This article is originally published at Insider Monkey.
