Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Growth—U.S. Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy declined and underperformed its benchmark, the Russell Microcap Index in the fourth quarter, which gained 4.72%. The disappointing returns in industrials, financials, and consumer discretionary were the primary source of the strategy’s weakness relative to the benchmark while consumer staples positively contributed to the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Micro Cap Growth—U.S. Strategy highlighted stocks like Simulations Plus, Inc. (NASDAQ:SLP) in its Q4 2022 investor letter. Headquartered in Lancaster, California, Simulations Plus, Inc. (NASDAQ:SLP) is a software company that develops modeling and simulation software. On March 21, 2023, Simulations Plus, Inc. (NASDAQ:SLP) stock closed at $43.33 per share. One-month return of Simulations Plus, Inc. (NASDAQ:SLP) was 10.62%, and its shares lost 3.84% of their value over the last 52 weeks. Simulations Plus, Inc. (NASDAQ:SLP) has a market capitalization of $880.877 million.
Wasatch Micro Cap Growth—U.S. Strategy made the following comment about Simulations Plus, Inc. (NASDAQ:SLP) in its Q4 2022 investor letter:
“Simulations Plus, Inc. (NASDAQ:SLP) was also a detractor. The company produces drug discovery and development software designed to help pharmaceutical firms shorten the time required to bring drugs to market. As life sciences businesses continue to adopt modeling and simulation, we believe Simulations Plus is well-positioned for growth in a high-margin industry. The company’s scientific consulting services are also experiencing strong demand, and its sales team has demonstrated success in cross-selling to existing customers. The stock’s weakness during the quarter was the result of lumpy financial results caused by the timing of contract renewals, which should gradually even out as Simulations Plus grows.”
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Simulations Plus, Inc. (NASDAQ:SLP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Simulations Plus, Inc. (NASDAQ:SLP) at the end of the fourth quarter which was 16 in the previous quarter.
We discussed Simulations Plus, Inc. (NASDAQ:SLP) in another article and shared Harding Loevner Global Small Companies Equity Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.
