The London Company SMID Cap Strategy Reduced Broadridge Financial Solutions (BR) on Strength

The London Company, an investment management company, released “The London Company SMID Cap Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased 15.2% (15% net) compared to a 13.4% gain for the Russell 2500 Index. The outperformance was due to both stock selection and sector exposure. The portfolio generated a solid relative and absolute performance in the fourth quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

The London Company SMID Cap Strategy featured stocks such as Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter 2023 investor letter. Headquartered in Lake Success, New York, Broadridge Financial Solutions, Inc. (NYSE:BR) is an investor communications and technology-driven solutions provider for the financial services industry. On February 8, 2024, Broadridge Financial Solutions, Inc. (NYSE:BR) stock closed at $199.00 per share. One-month return of Broadridge Financial Solutions, Inc. (NYSE:BR) was -1.78%, and its shares gained 36.25% of their value over the last 52 weeks. Broadridge Financial Solutions, Inc. (NYSE:BR) has a market capitalization of $23.437 billion.

The London Company SMID Cap Strategy stated the following regarding Broadridge Financial Solutions, Inc. (NYSE:BR) in its fourth quarter 2023 investor letter:

“Reduced: Broadridge Financial Solutions, Inc. (NYSE:BR) – Reduced BR on strength (>30% YTD). Following the latest rally, BR’s market cap exceeded $20B. We typically start reducing positions in the SMID portfolio once market cap exceeds $15B.”

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Broadridge Financial Solutions, Inc. (NYSE:BR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Broadridge Financial Solutions, Inc. (NYSE:BR) at the end of third quarter which was 23 in the previous quarter.

We discussed Broadridge Financial Solutions, Inc. (NYSE:BR) in another article and shared Ensemble Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.