Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed its benchmark indexes, the Russell 2000 Growth Index and the Russell 2000 Index. The weakness of investments in health care, information technology (IT), and industrials was responsible for the underperformance of the strategy in the quarter relative to the Russell 2000 Growth Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Global Investors highlighted stocks like XPEL, Inc. (NASDAQ:XPEL) in the Q3 2022 investor letter. Headquartered in San Antonio, Texas, XPEL, Inc. (NASDAQ:XPEL) is an automotive parts distributor. On December 8, 2022, XPEL, Inc. (NASDAQ:XPEL) stock closed at $66.82 per share. One-month return of XPEL, Inc. (NASDAQ:XPEL) was 3.15%, and its shares gained 1.57% of their value over the last 52 weeks. XPEL, Inc. (NASDAQ:XPEL) has a market capitalization of $1.845 billion.
Wasatch Global Investors made the following comment about XPEL, Inc. (NASDAQ:XPEL) in its Q3 2022 investor letter:
“XPEL, Inc. (NASDAQ:XPEL) also contributed. The company manufactures and distributes automotive paint and surface-protection films, window films, and ceramic coatings. XPEL benefits as buyers of luxury vehicles adopt products previously sold primarily to automotive enthusiasts. The stock had been down in the first half of 2022 as investors wrestled with concerns over supply-chain pressures and difficulties facing consumers. However, we continued to have confidence in XPEL’s management team and business model. We thought the company would withstand temporary challenges and was still on track to produce the growth we had expected over the long term. During the third quarter, we were gratified as the stock rebounded based on strong earnings that defied the negative trend for many consumer-oriented businesses.”
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XPEL, Inc. (NASDAQ:XPEL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 13 hedge fund portfolios held XPEL, Inc. (NASDAQ:XPEL) at the end of the third quarter, which was 10 in the previous quarter.
We discussed XPEL, Inc. (NASDAQ:XPEL) in another article and shared LVS Advisory’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 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.
