Ariel Investments, an investment management company, released its “Ariel Small Cap Value Strategy” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The Ariel Small Cap Value Tax-Exempt Composite declined -7.53% gross of fees (-7.76% net of fees) in the quarter underperforming both the Russell 2000 Value Index and the Russell 2000 Index, which returned -2.96% and -5.13%, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Small Cap Value Strategy highlighted stocks like Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) in the third quarter 2023 investor letter. Headquartered in New York, New York, Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) offers marine expedition adventures and travel experiences. On December 11, 2023, Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) stock closed at $8.33 per share. One-month return of Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) was -15.37%, and its shares lost 4.80% of their value over the last 52 weeks. Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) has a market capitalization of $444.725 million.
Ariel Small Cap Value Strategy made the following comment about Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) in its Q3 2023 investor letter:
“Alternatively, shares of luxury adventure travel services company, Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND), weighed on results in the period. We believe this recent price action runs counter to the company’s solid business fundamentals. LIND reported revenue and EBITDA ahead of Wall Street expectations. Future travel reservations continue to be strong with both booking trends and pricing for 2023 ahead of pre-pandemic levels. Although more expensive fuel prices and an uptick in discounting from certain competitors may present short-term headwinds, cancelation rates are slowly improving and should result in higher cruise occupancy. Longer-term, we expect LIND’s fundamentals will pave the way for multiple expansion as the company extends its market share in the expedition tourism niche. At today’s valuation, we believe LIND’s risk/reward is skewed sharply to the upside.”
A specialized vessel equipped with state of the art technology, sailing the seas for marine services.
Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) at the end of third quarter which was 12 in the previous quarter.
We discussed Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) in another article and shared Ariel Small Cap Value Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 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.
