ClearBridge Investments, an investment management firm, published its “Mid Cap Strategy” fourth quarter 2022 investor letter. A copy of which can be downloaded here. During the fourth quarter, the strategy underperformed the Russell Midcap Index. On an absolute basis, the strategy gained in 10 of the 11 sectors it invested in during the quarter. The consumer staples, industrials, and financial sectors were the leading contributors while the healthcare sector trailed the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Mid Cap Strategy highlighted stocks like Houlihan Lokey, Inc. (NYSE:HLI) in the fourth quarter 2022 investor letter. Headquartered in Los Angeles, California, Houlihan Lokey, Inc. (NYSE:HLI) is an investment management company. On March 14, 2023, Houlihan Lokey, Inc. (NYSE:HLI) stock closed at $88.71 per share. One-month return of Houlihan Lokey, Inc. (NYSE:HLI) was -8.33%, and its shares lost 9.87% of their value over the last 52 weeks. Houlihan Lokey, Inc. (NYSE:HLI) has a market capitalization of $6.087 billion.
ClearBridge Mid Cap Strategy made the following comment about Houlihan Lokey, Inc. (NYSE:HLI) in its Q4 2022 investor letter:
“We also added Houlihan Lokey, Inc. (NYSE:HLI), in the financials sector, an investment bank providing merger and acquisition, capital market, financial restructuring and valuation advisory services. While the prospects of a recession and higher interest rates have weighed on its capital markets and M&A businesses, Houlihan’s position as an industry leader within the financial restructuring industry provides excellent countercyclical exposure. Management’s ability to leverage key assets and personnel from its capital markets and M&A businesses during economic downturns provides a way to maintain its talent pool and provide downside protection as financial liquidity tightness continues to linger. We believe there will be a growing need for restructurings, which is currently not reflected in the company’s valuation.”
Creative Collage Of Business Team Working On Project And Stock Markets Data On Trasparent Screen, Financial Statistics Layered Over Man Using Laptop For Trading On Forex, Panorama
Houlihan Lokey, Inc. (NYSE:HLI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Houlihan Lokey, Inc. (NYSE:HLI) at the end of the fourth quarter which was 22 in the previous quarter.
We discussed Houlihan Lokey, Inc. (NYSE:HLI) in another article and shared Baron FinTech 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.
Suggested Articles:
- 12 Cheapest Penny Stocks According to Analysts
- 12 Most Promising Fintech Stocks To Buy
- 11 Cheap EV Stocks To Buy
Disclosure: None. This article is originally published at Insider Monkey.
