Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Growth—U.S. Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy declined and underperformed its benchmark, the Russell Microcap Index in the fourth quarter, which gained 4.72%. The disappointing returns in industrials, financials, and consumer discretionary were the primary source of the strategy’s weakness relative to the benchmark while consumer staples positively contributed to the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Micro Cap Growth—U.S. Strategy highlighted stocks like Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the Q4 2022 investor letter. Headquartered in San Ramon, California, Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) is an enterprise-level digital transformation services provider. On March 21, 2023, Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) stock closed at $10.72 per share. One-month return of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) was -9.69%, and its shares lost 7.27% of their value over the last 52 weeks. Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has a market capitalization of $802.209 million.
Wasatch Micro Cap Growth—U.S. Strategy made the following comment about Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in its Q4 2022 investor letter:
“Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) was the greatest detractor from strategy performance during the fourth quarter. 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 had benefited from the secular move toward digitalization. However, Grid has a significant number of employees in Ukraine. After a period of relative calm in major Ukrainian cities, recent escalating Russian attacks on power plants and other vital infrastructure have once again raised concerns. But we’ve been impressed by the ability of Grid’s management to navigate these challenges over a difficult year, and we expect management will continue to find ways to thrive in the digitalization space, which we think will be resilient in the face of a potential recession. As such, we added to our position when the recent retracement in the stock price created an attractive buying opportunity.”
Speedcurve Performance Analytics
Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) at the end of the fourth quarter which was 19 in the previous quarter.
We discussed Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in another article and shared Alger Weatherbie Specialized Growth Fund’s 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.
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Disclosure: None. This article is originally published at Insider Monkey.
