Investment management company Vulcan Value Partners recently released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The firm has five strategies, and all trailed their benchmark indexes in 2022. In the fourth quarter, the fund’s Large-Cap Composite returned 8.2% net of fees and expenses, the Small Cap Composite returned 11.2% net, Focus Composite returned 7.6% net, the Focus Plus composite returned 7.7%, and All Cap Composite returned 7.2% net. You can check the top 5 holdings of the fund to know its best picks in 2022.
Vulcan Value Partners highlighted stocks like Medpace Holdings, Inc. (NASDAQ:MEDP) in the fourth quarter 2022 investor letter. Based in Cincinnati, Ohio, Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research service provider. On February 9, 2023, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $225.56 per share. One-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was -0.16% and its shares gained 28.01% of their value over the last 52 weeks. Medpace Holdings, Inc. (NASDAQ:MEDP) has a market capitalization of $7.015 billion.
Vulcan Value Partners made the following comment about Medpace Holdings, Inc. (NASDAQ:MEDP) in its Q4 2022 investor letter:
“Medpace Holdings, Inc. (NASDAQ:MEDP) is a Clinical Contract Research Organization. Throughout 2022, Medpace’s stock was highly volatile as potential concerns around the financial health of its clients were called into question. We evaluated these risks, and they are reflected in our value estimates. With our estimate of value remaining stable and volatile share price throughout the year, we were able to take advantage of that volatility on two occasions in 2022. First, we purchased more shares as the stock sold off in early 2022, and more recently in October we trimmed our position when the stock rose nearly 40% in a day in response to its earnings. We also have a high opinion of Medpace’s management team which was opportunistic in taking advantage of the volatility in its shares last year. In the nine months ended September 2022, Medpace repurchased more than 15% of its shares outstanding, at prices well below our estimate of its value. Last October, the company announced a new $500 million share repurchase authorization. We are pleased to see the company choose to deploy its free cash flow in this manner.”
Likoper/Shutterstock.com
Medpace Holdings, Inc. (NASDAQ:MEDP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Medpace Holdings, Inc. (NASDAQ:MEDP) at the end of the third quarter, which was 19 in the previous quarter.
We discussed Medpace Holdings, Inc. (NASDAQ:MEDP) in another article and shared Wasatch Global Investors’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 17 Biggest MLM Companies in the World
- 10 Companies Likely to Be Dividend Kings
- 12 NASDAQ Penny Stocks Under 10 Cents
Disclosure: None. This article is originally published at Insider Monkey.
