Wasatch Global Investors, an investment management firm, released its “Wasatch Micro Cap Value Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark during the quarter. The quality-oriented positioning was the main reason for the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Wasatch Micro Cap Value Strategy highlighted stocks like Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the Q3 2023 investor letter. Headquartered in San Ramon, California, Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) is an enterprise-level digital transformation services provider. On December 22, 2023, Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) stock closed at $13.81 per share. One-month return of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) was 8.23%, and its shares gained 30.65% of their value over the last 52 weeks. Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has a market capitalization of $1.044 billion.
Wasatch Micro Cap Value Strategy made the following comment about Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in its Q3 2023 investor letter:
“Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) was also a contributor. The company provides Fortune 1000 businesses and other firms with a range of technology services—including consulting, software design, internet business development, cloud computing and legacy replatforming—and thus has benefited from the secular move toward digitalization. However, Grid has a significant number of employees in Ukraine. That factor, plus a temporary slowdown in the digitalization trend, hurt Grid’s stock beginning in 2022. During the third quarter of this year, the stock was up again on optimism about a potential resurgence in digitalization. Even companies that have reported only mediocre improvement in digitalization revenues have seen their valuations rise. Although we’ve periodically traded our position based on opportunities afforded by a volatile stock price, we continue to own Grid because we’ve been impressed by management’s ability to navigate inevitable challenges and thrive in the digitalization space.”
A close-up of a laptop displaying a colourful graph illustrating the financial markets digital transformation.
Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) at the end of third quarter which was 15 in the previous quarter.
We discussed Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in another article and shared Argosy Investors’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.
