Alger Small Cap Focus Fund recently released its Q3 2020 Investor Letter, a copy of which you can download here. Class A shares of the Alger Small Cap Focus Fund underperformed the Russell 2000 Growth Index during the third quarter of 2020. You should check out Alger Small Cap Focus Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q3 2020 Investor Letter, Alger Small Cap Focus Fund highlighted a few stocks and PROS Holdings Inc. (NYSE:PRO) is one of them. PROS Holdings Inc. (NYSE:PRO) is a company that provides AI SaaS solutions that power commerce in the digital economy. Year-to-date, PROS Holdings Inc. (NYSE:PRO) stock lost 16.6% and on December 29th it had a closing price of $49.95. Here is what Alger Small Cap Focus Fund said:
“PROS is a leading provider of artificial intelligence-powered solutions that help companies price, configure and sell their products within the digital economy. During the second quarter, PROS continued to be negatively impacted by the pandemic, including some lengthening of sales cycles as enterprise buyers increased their scrutiny of potential new product acquisitions. PROS’ high exposure to the travel segment has made this impact more acute compared to other software companies, and PROS has provided some forms of financial relief for its most-impacted customers. More positively. PROS has noted that its pipeline for its B2B offerings remains strong as the pandemic is accelerating modernization of B2B ecommerce. We believe that the headwinds to the travel segment are transitory and PROS’ ability to drive long-term customer value in multiple end markets is attractive.”
Earlier this month, we published an article revealing that Brown Capital Management Small Company Fund is bullish on PROS Holdings Inc. (NYSE:PRO) stock. The investment firm sees a large market opportunity in the B2B space and expect growth to recover faster in this market.
In Q2 2020, the number of bullish hedge fund positions on PROS Holdings Inc. (NYSE:PRO) stock increased by about 19% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in PROS’ growth potential. Our calculations showed that PROS Holdings Inc. (NYSE:PRO) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
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