Choice Equities Capital Management, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A net return of -2.5% was recorded by the fund for the third quarter of 2021, bringing year-to-date gains to +33.8%. This compares to the Russell 2000’s -4.4% loss in the quarter and +12.4% year-to-date return. The S&P 500 produced gains of +0.6% for the quarter and +15.9% for the year. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
Choice Equities Capital Management, in its Q3 2021 investor letter, mentioned Identiv, Inc. (NASDAQ: INVE) and discussed its stance on the firm. Identiv, Inc. is a Santa Ana, California-based manufacturing company with a $508.3 million market capitalization. INVE delivered a 169.29% return since the beginning of the year, while its 12-month returns are up by 211.43%. The stock closed at $22.89 per share on December 13, 2021.
Here is what Choice Equities Capital Management, has to say about Identiv, Inc. in its Q3 2021 investor letter:
“INVE –Recent reports and field research each suggest Identiv is well-positioned to become a much a larger company. CEO Steve Humphries is having success building out the team. In the past quarter, he successfully lured Amir Khoshniyati away from SmarTrac at Avery Dennison to become VP of Business Development, who himself has since successfully convinced several of his former colleagues to help him expand the sales efforts alongside him at Identiv. The burgeoning sales team has been busy and productive, enabling further additions to the company’s backlog, which was up 51% on a year-over-year basis in the quarter. And the pipeline of new business and potential new use cases is expanding rapidly. The elephant-sized, billion-plus unit opportunities such as the deployment of chips in syringes and cannabis continue to move forward and remain in sight as potential drivers next year. But perhaps more importantly as it relates to the likelihood of success for the market for radio-frequency identification (RFID) chips based on near field communications (NFC) technology, the long tail of new and small-tomedium sized use case opportunities has been the primary driver of unit growth thus far. Signs suggest continued reason for optimism for this small company and their market leading position in potentially massive end markets built around securely connecting physical things to the digital world.”
Photo by Danial Igdery on Unsplash
Based on our calculations, Identiv, Inc. (NASDAQ: INVE) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. INVE was in 10 hedge fund portfolios at the end of the third quarter of 2021, compared to 7 funds in the previous quarter. Identiv, Inc. (NASDAQ: INVE) delivered a 14.97% return in the past 3 months.
During the second quarter of this year, we also shared Choice Equities’ views on INVE 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.
