Ariel Investments, an investment management company, released its “Ariel Small-Cap Value Concentrated Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined by -7.34% gross of fees, underperforming the Russell 2000 Value Index, which returned -4.61%, and the Russell 2000 Index, which returned -2.19%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Ariel Investment highlighted stocks like Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in the Q3 2022 investor letter. Based in Miami, Florida, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is a cruise company. On December 2, 2022, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) stock closed at $16.54 per share. One-month return of Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) was -0.36%, and its shares lost 17.57% of their value over the last 52 weeks. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) has a market capitalization of $6.97 billion.
Ariel Investment made the following comment about Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in its Q3 2022 investor letter:
“Cruise ship operator Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) also aided relative performance in the period. Onboard spending has been stronger than management expectations and forward booking commentary remains encouraging with both trends and pricing for 2023 ahead of pre-pandemic levels. Though questions persist around the macro backdrop, NCLH has an experienced executive management team at its helm, a young average fleet and solid liquidity position. Over the longterm, we believe the current headwinds travel and leisure are experiencing will soften and expect NCLH’s fundamentals will prove resilient in the face of adversity. At today’s valuation, NCLH is currently trading at a -70% discount to our estimate of private market value.”
Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) at the end of the third quarter, which was 28 in the previous quarter.
We discussed Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in another article and shared the list of stocks receiving price-target hikes from analysts. 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.
