Here’s Why John Wiley & Sons (WLY) Rose in Q1

Palm Valley Capital Management, an investment management firm, released the “Palm Valley Capital Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, Palm Valley Capital Fund increased 1.04% compared to 2.46% and 5.69% gains for the S&P SmallCap 600 Index and the Morningstar Small Cap Index, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.

Palm Valley Capital Fund featured stocks like John Wiley & Sons, Inc. (NYSE:WLY) in the first quarter 2024 investor letter. Headquartered in Hoboken, New Jersey, John Wiley & Sons, Inc. (NYSE:WLY) is a research and education company. On April 4, 2024, John Wiley & Sons, Inc. (NYSE:WLY) stock closed at $37.90 per share. One-month return of John Wiley & Sons, Inc. (NYSE:WLY) was 3.27%, and its shares gained 0.66% of their value over the last 52 weeks. John Wiley & Sons, Inc. (NYSE:WLY) has a market capitalization of $2.094 billion.

Palm Valley Capital Fund stated the following regarding John Wiley & Sons, Inc. (NYSE:WLY) in its first quarter 2024 investor letter:

“The top gainers in the Palm Valley Capital Fund in Q1 were the Sprott Physical Gold Trust (ticker: PHYS), Kelly Services (ticker: KELYA), and John Wiley & Sons, Inc. (NYSE:WLY). While Wiley’s third quarter results were distorted by completed and pending divestitures, management expressed confidence in the company’s core Research business and said Wiley is on track to meaningfully grow profits over the next two years. The company received a last-minute invitation to the AI party by engaging in a one-time content rights deal with a large tech company that intends to use Wiley’s books to train large language models.”

A high tech printing press, producing professional-grade physical books.

John Wiley & Sons, Inc. (NYSE:WLY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, John Wiley & Sons, Inc. (NYSE:WLY) was held by 27 hedge fund portfolios, compared to 19 in the previous quarter, according to our database. 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.