Laughing Water Capital, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. Laughing Water Capital “LWC” returned approximately -12.5% in the first quarter of 2022 after all fees and expenses. As always, results will vary based on the timing of your investment, which fund you are in, and which class you are in, so please check your individual statements for a more accurate reading on recent performance. The SP500TR and R2000 returned -4.6% and -7.5% during this time period. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Laughing Water Capital mentioned TransAct Technologies Incorporated (NASDAQ:TACT) and explained its insights for the company. Founded in 1996, TransAct Technologies Incorporated (NASDAQ:TACT) is a Hamden, Connecticut-based software company with a $79.9 million market capitalization. TransAct Technologies Incorporated (NASDAQ:TACT) delivered a -25.87% return since the beginning of the year, while its 12-month returns are down by -32.27%. The stock closed at $8.08 per share on April 19, 2022.
Here is what Laughing Water Capital has to say about TransAct Technologies Incorporated (NASDAQ:TACT) in its Q1 2022 investor letter:
“Transact Technologies (NASDAQ:TACT) – Transact, our back of house restaurant software company and slot machine printer company, traded down by about 30% in the first quarter. At present the company is dealing with supply chain issues that will slow its growth, but management recently announced one large new customer win, and indicated that they are close on two more. The gating agent is supply of their product. Eventually these delays will clear, paving the way for a bright future. More important than price action, at quarter end the company agreed to add two new members to its board of directors at the behest of activist investors. The addition of the activists to the boardroom will improve corporate governance, and likely increase the odds that Transact’s legacy slot machine printer business will be monetized. When that eventually happens, it is likely that the market will look favorably on what will then be a pure play fast growing recurring revenue business.”
Our calculations show that TransAct Technologies Incorporated (NASDAQ:TACT) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. TransAct Technologies Incorporated (NASDAQ:TACT) was in 9 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 8 funds in the previous quarter. TransAct Technologies Incorporated (NASDAQ:TACT) delivered a -15.83% return in the past 3 months.
In February 2022, we also shared another hedge fund’s views on TransAct Technologies Incorporated (NASDAQ:TACT) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
