Wasatch Micro Cap Value Fund recently released its Q4 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 26.1% for the quarter, underperforming its benchmark, the Russell Microcap Index which returned 31.4% in the same quarter. You should check out Wasatch’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q4 2020 Investor Letter, the fund highlighted a few stocks and Paysign Inc. (NASDAQ:PAYS) is one of them. Paysign Inc. (NASDAQ:PAYS) provides payment services. In the last three months, Paysign Inc. (NASDAQ:PAYS) stock lost 1% and on April 1st it had a closing price of $4.59. Here is what the fund said:
“Paysign, Inc. (PAYS) was also a major detractor. The company develops and manages payment services, prepaid-card programs and customized payment plans. A large portion of Paysign’s business comes from blood banks. With many of the usual blood donors receiving government assistance and limiting their personal interactions, activity at blood banks has declined—which was a trend we saw coming. But we misjudged the magnitude of the trend. At the lower share prices recently available, we increased our position in Paysign because we think payment activity will accelerate as the economy continues to reopen and people resume more of their normal routines.”
In Q3 2020, the number of bullish hedge fund positions on Paysign Inc. (NASDAQ:PAYS) stock remained unchanged from the previous quarter (see the chart here). Our calculations showed that Paysign Inc. (NASDAQ:PAYS) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
