Ariel Investments, an investment management company, released its “Ariel Small Cap Value Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The Ariel Small Cap Value Tax-Exempt Composite rose +13.24% gross of fees (+12.96% net of fees) in the quarter, underperforming both the Russell 2000 Value Index and the Russell 2000 Index, which returned +15.26% and +14.03%, respectively. During the year the strategy returned +17.93% gross of fees (+16.76% net of fees) compared to +14.65% and +16.93% gains for the Russell 2000 Value Index and the Russell 2000 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Small Cap Value Strategy featured stocks like OneSpaWorld Holdings Limited (NASDAQ:OSW) in the fourth quarter 2023 investor letter. Based in Nassau, Bahamas, OneSpaWorld Holdings Limited (NASDAQ:OSW) is a health and wellness center operator onboard cruise ships and at destination resorts. On March 12, 2024, OneSpaWorld Holdings Limited (NASDAQ:OSW) stock closed at $12.71 per share. One-month return of OneSpaWorld Holdings Limited (NASDAQ:OSW) was -14.06%, and its shares gained 12.38% of their value over the last 52 weeks. OneSpaWorld Holdings Limited (NASDAQ:OSW) has a market capitalization of $1.276 billion.
Ariel Small Cap Value Strategy stated the following regarding OneSpaWorld Holdings Limited (NASDAQ:OSW) in its fourth quarter 2023 investor letter:
“Wellness provider onboard cruise ships and destination resorts, OneSpaWorld Holdings Limited (NASDAQ:OSW) was another top contributor in the period, driven by its third consecutive earnings beat and subsequent raise in full year guidance. Looking ahead, we expect OSW’s spa services to continue to be met with high demand and spend levels, particularly as OSW continues to launch new higher value spa services and occupancy rates increase over time. Meanwhile, management continues to pay down debt and return capital to shareholders through buybacks. At current levels, we see the risk/reward skewed sharply to the upside.”
A well-equipped wellness center with classes and health services.
OneSpaWorld Holdings Limited (NASDAQ:OSW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, OneSpaWorld Holdings Limited (NASDAQ:OSW) was held by 19 hedge fund portfolios, compared to 16 in the previous quarter, according to our database.
We discussed OneSpaWorld Holdings Limited (NASDAQ:OSW) in another article and shared the list of best cruise stocks to buy. In addition, please check out our hedge fund investor letters Q4 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.
