Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Small Cap Growth Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. In the first quarter of 2024, the U.S. economy showed signs of moderate growth, with indications of an upturn towards the end of the period. The Federal Reserve sees the economic performance as a “Goldilocks” scenario, balanced, with slowing demand, moderate wage pressure, and strong job growth. Future economic trends will determine interest rate decisions. High levels of fiscal spending, new home construction, industrial investments, and moderate wage growth are expected to support economic expansion over the near term. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Carillon Chartwell Small Cap Growth Fund highlighted stocks like Integral Ad Science Holding Corp. (NASDAQ:IAS), in the first quarter 2024 investor letter. Integral Ad Science Holding Corp. (NASDAQ:IAS) is a digital advertising verification company. The one-month return of Integral Ad Science Holding Corp. (NASDAQ:IAS) was -1.03%, and its shares lost 47.00% of their value over the last 52 weeks. On June 25, 2024, Integral Ad Science Holding Corp. (NASDAQ:IAS) stock closed at $9.62 per share with a market capitalization of $1.544 billion.
Carillon Chartwell Small Cap Growth Fund stated the following regarding Integral Ad Science Holding Corp. (NASDAQ:IAS) in its first quarter 2024 investor letter:
“The Fund’s largest detractor during the first quarter was Integral Ad Science Holding Corp. (NASDAQ:IAS). The advertising technology company disappointed investors, acknowledging that it is competing on price with its largest enterprise customers. This brings into question whether the company’s data measurement services are more of a commodity than investors expected.”
Small business owners with their laptops sitting at a coffee shop, discussing their digital advertising strategy.
Integral Ad Science Holding Corp. (NASDAQ:IAS) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Integral Ad Science Holding Corp. (NASDAQ:IAS) at the end of the first quarter which was 26 in the previous quarter. The total revenue of Integral Ad Science Holding Corp. (NASDAQ:IAS) in the first quarter increased 8% to $114.5 million. While we acknowledge the potential of Integral Ad Science Holding Corp. (NASDAQ:IAS) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
We discussed Integral Ad Science Holding Corp. (NASDAQ:IAS) in another article and shared TimesSquare Capital U.S. Small Cap Growth Strategy’s views on the company. 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.
