What Makes Anywhere Real Estate (HOUS) a Worthy Investment?

Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund delivered 3.70% in the second quarter compared to a 5.21% return for the Russell 2000 Index and 3.18% for the Russell 2000 Value Index. The portfolio’s differentiated holdings within the Financials and Real Estate sectors contributed to absolute and relative returns in the quarter, while lack of exposure to Health Care and relative overweight to Consumer Staples weighed on relative results. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Longleaf Partners Small-Cap Fund highlighted stocks like Anywhere Real Estate Inc. (NYSE:HOUS) in the second quarter 2023 investor letter. Headquartered in Madison, New Jersey, Anywhere Real Estate Inc. (NYSE:HOUS) offers residential real estate services. On September 7, 2023, Anywhere Real Estate Inc. (NYSE:HOUS) stock closed at $7.35 per share. One-month return of Anywhere Real Estate Inc. (NYSE:HOUS) was -2.78%, and its shares lost 26.28% of their value over the last 52 weeks. Anywhere Real Estate Inc. (NYSE:HOUS) has a market capitalization of $812.065 million.

Longleaf Partners Small-Cap Fund made the following comment about Anywhere Real Estate Inc. (NYSE:HOUS) in its Q2 2023 investor letter:

“Anywhere Real Estate Inc. (NYSE:HOUS) – Real Estate brokerage franchisor Anywhere was another solid performer in the quarter and for the first half, benefitting from “green shoots” in the seemingly bottomed-out US housing market. Management has maintained strong cost control, and even at this depressed level, Anywhere is producing net positive free cash flow (FCF) today with the potential for strong future franchise fee growth.”

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Anywhere Real Estate Inc. (NYSE:HOUS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Anywhere Real Estate Inc. (NYSE:HOUS) at the end of second quarter which was 15 in the previous quarter.

We discussed Anywhere Real Estate Inc. (NYSE:HOUS) in another article and shared the list of best bargain stocks to buy in March. In addition, please check out our hedge fund investor letters Q2 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.