Ariel Investments, an investment management company, released its “Ariel Small Cap Value Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The Ariel Small Cap Value Tax-Exempt Composite rose +13.24% gross of fees (+12.96% net of fees) in the quarter, underperforming both the Russell 2000 Value Index and the Russell 2000 Index, which returned +15.26% and +14.03%, respectively. During the year the strategy returned +17.93% gross of fees (+16.76% net of fees) compared to +14.65% and +16.93% gains for the Russell 2000 Value Index and the Russell 2000 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Small Cap Value Strategy featured stocks like Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) in the fourth quarter 2023 investor letter. Headquartered in New York, New York, Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) offers marine expedition adventures and travel experiences. On March 12, 2024, Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) stock closed at $8.44 per share. One-month return of Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) was -8.36%, and its shares lost 2.31% of their value over the last 52 weeks. Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) has a market capitalization of $450.944 million.
Ariel Small Cap Value Strategy stated the following regarding Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) in its fourth quarter 2023 investor letter:
“Shares of luxury adventure travel services company, Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND), traded higher in the quarter following a significant bottom-line beat and positive free cash flow generation. Future travel reservations continue to be strong with the company increasing its prices heading into the new year. Although more expensive fuel prices and an uptick in discounting from certain competitors may present short-term headwinds, cancellation rates are slowly improving and should result in higher cruise occupancy. LIND also recently completed its marketing and technology infrastructure upgrades and will enter 2024 with a new website, client relationship management platform and reservation system, which should enable LIND to more effectively target customers. Longer-term, we expect LIND’s fundamentals and the extension of its strategic relationship with National Geographic through 2040 will pave the way for multiple expansion as the company extends its market share in the expedition tourism niche. At today’s valuation, we believe LIND’s risk/reward is skewed sharply to the upside.”
A fleet of Expedition Cruising ships moored at a harbor in a picturesque landscape.
Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) was held by 14 hedge fund portfolios, compared to 12 in the previous quarter, according to our database.
We discussed Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) in another article and shared best cruise stocks to buy. In addition, please check out our hedge fund investor letters Q4 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.
