Is it a Wise Move to Buy CoreCard (CCRD) Shares?

Long Cast Advisers, LLC, an independent registered investment adviser, investing on behalf of individuals, family offices, and endowments, published its third quarter 2022 investor letter – a copy of which can be downloaded here. For the 3Q22 quarter (ended Sept 30, 2022), cumulative net returns increased by 14%. YTD returns are down 16%. Since inception in November 2015 through quarter end 3Q22, LCA has returned a cumulative 130% net of fees, or 13% CAGR. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Long Cast Advisers mentioned CoreCard Corporation (NYSE:CCRD) and explained its insights for the company. Founded in 1973, CoreCard Corporation (NYSE:CCRD) is a Norcross, Georgia-based card management and transaction processing systems issuer-processor and provider with a $189.1 million market capitalization. CoreCard Corporation (NYSE:CCRD) delivered a -43.09% return since the beginning of the year, while its 12-month returns are down by -45.86%. The stock closed at $22.08 per share on October 12, 2022.

Here is what Long Cast Advisers  has to say about CoreCard Corporation (NYSE:CCRD) in its Q3 2022 investor letter:

“We don’t own shares in CoreCard (NYSE:CCRD, something I think belongs in every small cap investors’ portfolio) because they process payments for the ParkMobile app, but I do enjoy using the app knowing that ~$0.04 of every transaction generates revenue for one of our holdings. When my wife broke her arm, I’m certain it wasn’t so a surgeon would install a plate using a Depuy/Synthes torque limiting driver made by PDEX, but knowing that’s what he used is pretty neat, IMHO.”

jonas-svidras-e28-krnIVmo-unsplash

Our calculations show that CoreCard Corporation (NYSE:CCRD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. CoreCard Corporation (NYSE:CCRD) was in 9 hedge fund portfolios at the end of the second quarter of 2022, compared to 9 funds in the previous quarter. CoreCard Corporation (NYSE:CCRD) delivered a -2.86% return in the past 3 months.

In August 2022, we also shared another hedge fund’s views on CoreCard Corporation (NYSE:CCRD) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

Suggested Articles:

• 12 Best Consumer Staple Stocks
• 11 Best Dividend Stocks Under $50
• 10 Best Cybersecurity Stocks To Buy Under $20

Disclosure: None. This article is originally published at Insider Monkey.