Is The Ensign Group (ENSG) a Recession Proof Stock?

Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Value Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy underperformed its benchmark index, the Russell 2000 Value Index, which fell -4.61% in the third quarter. The strategy typically performed well in down markets, but it was not the case in the third quarter. In particular, the strategy’s holdings in the real estate sector detracted from the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch Global Investors highlighted stocks like The Ensign Group, Inc. (NASDAQ:ENSG) in its Q3 2022 investor letter. Based in San Juan Capistrano, California, The Ensign Group, Inc. (NASDAQ:ENSG) is a healthcare services company. On December 9, 2022, The Ensign Group, Inc. (NASDAQ:ENSG) stock closed at $90.87 per share. One-month return of The Ensign Group, Inc. (NASDAQ:ENSG) was -1.07%, and its shares gained 15.61% of their value over the last 52 weeks. The Ensign Group, Inc. (NASDAQ:ENSG) has a market capitalization of $5.042 billion.

Wasatch Global Investors made the following comment about The Ensign Group, Inc. (NASDAQ:ENSG) in its Q3 2022 investor letter:

“Another of the strategy’s top contributors was The Ensign Group, Inc. (NASDAQ:ENSG), an operator of skilled nursing and rehabilitation facilities. The company’s business is seen as a having a relatively low degree of vulnerability to slowing economic growth, which helped it outperform despite the weakness in the broader market. Ensign was one of the strategy’s largest holdings at the end of September.”

Miriam Doerr Martin Frommherz/Shutterstock.com

The Ensign Group, Inc. (NASDAQ:ENSG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held The Ensign Group, Inc. (NASDAQ:ENSG) at the end of the third quarter, which was 15 in the previous quarter.

We discussed The Ensign Group, Inc. (NASDAQ:ENSG) in another article and shared the top stock picks of Benjamin Natter’s Kent Lake Capital. In addition, please check out our hedge fund investor letters Q3 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.