Should You Sell Evercore (EVR)?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2000 Growth Index and returned 3.28% (net), and the index return was 0.24%. Strength in Industrials, Consumer Staples, Consumer Discretionary, and Information Technology sectors contributed to the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Evercore Inc. (NYSE:EVR) in its Q3 2022 investor letter. Headquartered in New York, New York, Evercore Inc. (NYSE:EVR) is an investment banking advisor. On December 19, 2022, Evercore Inc. (NYSE:EVR) stock closed at $106.46 per share. One-month return of Evercore Inc. (NYSE:EVR) was -4.93%, and its shares lost 19.80% of their value over the last 52 weeks. Evercore Inc. (NYSE:EVR) has a market capitalization of $4.135 billion.

TimesSquare Capital made the following comment about Evercore Inc. (NYSE:EVR) in its Q3 2022 investor letter:

“Among other trading activity in this sector, we exited our position in the independent investment bank and research provider Evercore Inc. (NYSE:EVR). Amidst a challenging backdrop, Evercore had offset the decrease from mergers & acquisition activity by expanding its restructuring and private capital advisory services. However, we were concerned about Evercore’s near-term prospects.”

Evercore Inc. (NYSE:EVR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Evercore Inc. (NYSE:EVR) at the end of the third quarter, which was 28 in the previous quarter.

We discussed Evercore Inc. (NYSE:EVR) in another article and shared Aristotle Capital Management’s 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.

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Disclosure: None. This article is originally published at Insider Monkey.