Conestoga Capital Advisors, an asset management company, released its “Micro Cap Strategy” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The micro capitalization segment of the market proved the most challenging in the quarter with the Russell Micro Cap Index declining -7.93%. The Russell Micro Cap Growth Index fell further with a loss of -11.95%. The Micro Cap Composite also declined 13.34% net of fees during the same period. Particularly difficult stock selection in the Health Care and Consumer Discretionary sectors more than offset stronger stock selection effects in the Technology sector. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga Micro Cap Composite highlighted stocks like Definitive Healthcare Corp. (NASDAQ:DH) in the third quarter 2023 investor letter. Headquartered in Framingham, Massachusetts, Definitive Healthcare Corp. (NASDAQ:DH) offers software as a service (SaaS) healthcare commercial intelligence platform. On November 15, 2023, Definitive Healthcare Corp. (NASDAQ:DH) stock closed at $8.38 per share. One-month return of Definitive Healthcare Corp. (NASDAQ:DH) was 18.36%, and its shares lost 23.96% of their value over the last 52 weeks. Definitive Healthcare Corp. (NASDAQ:DH) has a market capitalization of $974.829 million.
Conestoga Micro Cap Composite made the following comment about Definitive Healthcare Corp. (NASDAQ:DH) in its Q3 2023 investor letter:
“Definitive Healthcare Corp. (NASDAQ:DH): Based in Framingham, MA, this company is a leading provider of healthcare commercial intelligence software. The company combines vast data sources with its artificial intelligence engine to produce accurate, real-time intelligence used by healthcare sales and marketing professionals. Conestoga has known DH’s CFO for many years in a similar role for a prior portfolio holding – Bottomline Technologies (EPAY).”
A close-up of a healthcare professional studying a computer screen with data while consulting with a patient.
Definitive Healthcare Corp. (NASDAQ:DH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Definitive Healthcare Corp. (NASDAQ:DH) at the end of second quarter which was 11 in the previous quarter.
We discussed Definitive Healthcare Corp. (NASDAQ:DH) in another article and shared Baron Discovery Fund’s views on the company in the previous quarter. 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.
