TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter the fund returned 5.77% (net), compared to a 7.58% return for the Russell 2000 Growth Index. Despite a decline in many equity markets in January, they rebounded over the following two months, resulting in a robust 2024 first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.
TimesSquare Capital U.S. Small Cap Growth Strategy highlighted stocks like Adtalem Global Education Inc. (NYSE:ATGE), in the first quarter 2024 investor letter. Adtalem Global Education Inc. (NYSE:ATGE) offers workforce solutions. The one-month return of Adtalem Global Education Inc. (NYSE:ATGE) was -1.88%, and its shares gained 73.26% of their value over the last 52 weeks. On June 18, 2024, Adtalem Global Education Inc. (NYSE:ATGE) stock closed at $64.14 per share with a market capitalization of $2.412 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding Adtalem Global Education Inc. (NYSE:ATGE) in its first quarter 2024 investor letter:
“Our preferences in the Consumer-oriented sectors lean toward value-oriented or specialty retailers, franchise models, or premium brands. Adtalem Global Education Inc. (NYSE:ATGE) offers post-secondary education services across a variety of disciplines. Its shares fell -17% due to concerns related to enrollment and graduation trends. These considerations led us to liquidate the position.”
A group of students in a lecture hall, with a professor lecturing to them in the forefront.
Adtalem Global Education Inc. (NYSE:ATGE) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Adtalem Global Education Inc. (NYSE:ATGE) at the end of the first quarter which was 22 in the previous quarter. Revenue for Adtalem Global Education Inc. (NYSE:ATGE) increased by 11.8% to $413 million during the quarter due to an increase in the company’s overall enrolment fee, which increased by 7.8%. While we acknowledge the potential of Adtalem Global Education Inc. (NYSE:ATGE) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Adtalem Global Education Inc. (NYSE:ATGE) and shared Ariel Fund’s views on the company. TimesSquare Capital U.S. Small Cap Growth Strategy added Adtalem Global Education Inc. (NYSE:ATGE) to its portfolio in the fourth quarter 2023. In addition, please check out our hedge fund investor letters Q1 2024 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.
