Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Value Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell Microcap Index which rose 4.72%. Stock selection in industrials, consumer discretionary, information technology, and consumer staples contributed to the strategy’s performance in the quarter while stock selections in energy detracted from the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Micro Cap Value Strategy highlighted stocks like Bowman Consulting Group Ltd. (NASDAQ:BWMN) in the Q4 2022 investor letter. Headquartered in Reston, Virginia, Bowman Consulting Group Ltd. (NASDAQ:BWMN) is a professional service firm that provides real estate, energy, infrastructure, and environmental management solutions. On March 29, 2023, Bowman Consulting Group Ltd. (NASDAQ:BWMN) stock closed at $28.95 per share. One-month return of Bowman Consulting Group Ltd. (NASDAQ:BWMN) was 2.48%, and its shares gained 76.09% of their value over the last 52 weeks. Bowman Consulting Group Ltd. (NASDAQ:BWMN) has a market capitalization of $393.561 million.
Wasatch Micro Cap Value Strategy made the following comment about Bowman Consulting Group Ltd. (NASDAQ:BWMN) in its Q4 2022 investor letter:
“Another meaningful contributor was Bowman Consulting Group Ltd. (NASDAQ:BWMN), a company that provides a broad range of real-estate, energy, infrastructure and environmental-management services. Bowman’s third-quarter earnings were strong, extending a trend of exceeding expectations. We anticipate that the less cyclical nature of government spending will benefit companies like Bowman, which are involved in public infrastructure projects. Because we also consider the stock underpriced in the context of fundamentals and peer valuations, we’re optimistic about the company’s future performance.”
goodluz/Shutterstock.com
Bowman Consulting Group Ltd. (NASDAQ:BWMN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 6 hedge fund portfolios held Bowman Consulting Group Ltd. (NASDAQ:BWMN) at the end of the fourth quarter which was 4 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 12 Best Diversified Dividend Stocks to Buy Now
- 10 Cheap Jim Cramer Stocks to Buy
- 16 Best Vodka Brands Under $30
Disclosure: None. This article is originally published at Insider Monkey.
