Would it Be Fine if You Invest in Medexus Pharmaceuticals (MDP)?

Ariel Investments, an investment management firm, published its “Ariel Fund & Ariel Appreciation Fund” third-quarter 2021 investor letter – a copy of which can be downloaded here. A return of -0.17% was recorded by the Fund for the third quarter of 2021, compared to the Russell 2500TM Value Index, Russell 2500TM Index, and S&P 500® Index which had a -2.07%, -2.68%, and 0.58% returns respectively for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Ariel Fund & Ariel Appreciation Fund, in its Q3 2021 investor letter, mentioned Medexus Pharmaceuticals Inc. (NYSE: MDP) and discussed its stance on the firm. Medexus Pharmaceuticals Inc. is a Des Moines, Iowa-based pharmaceutical company with a $49.7 million market capitalization. MDP delivered a -18.91% and it closed at $2.53 per share on December 15, 2021.

Here is what Ariel Fund & Ariel Appreciation Fund has to say about Medexus Pharmaceuticals Inc.  in its Q3 2021 investor letter:

“After being a bottom contributor last year, television broadcaster and magazine advertiser, Meredith Corporation (MDP) reversed course to become the top contributor to performance over the trailing one-year period. Shares traded higher in May following MDP’s acceptance of an acquisition bid from Gray Television for its 17 local television stations. Subsequently, MDP announced its intention to create a pure-play business focused on digital and consumer opportunities across the remaining lifestyle media brands. Then, late in the reporting period, shares climbed sharply on news the company was in advanced discussions to sell the publishing segment to Barry Diller’s digital media company, IAC/InterActiveCorp.”

Based on our calculations, Medexus Pharmaceuticals Inc. (NYSE: MDP) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. MDP was in 21 hedge fund portfolios at the end of the third quarter of 2021, compared to 22 funds in the previous quarter. Medexus Pharmaceuticals Inc. (NYSE: MDP) delivered a -23.56% return in the past 3 months.

Last year, we also shared Ariel Investments’ views on MDP in another article. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.