TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter the fund returned 5.77% (net), compared to a 7.58% return for the Russell 2000 Growth Index. Despite a decline in many equity markets in January, they rebounded over the following two months, resulting in a robust 2024 first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.
TimesSquare Capital U.S. Small Cap Growth Strategy highlighted stocks like Integral Ad Science Holding Corp. (NASDAQ:IAS), in the first quarter 2024 investor letter. Integral Ad Science Holding Corp. (NASDAQ:IAS) is a digital advertising verification company. The one-month return of Integral Ad Science Holding Corp. (NASDAQ:IAS) was -3.46%, and its shares lost 45.92% of their value over the last 52 weeks. On June 18, 2024, Integral Ad Science Holding Corp. (NASDAQ:IAS) stock closed at $9.48 per share with a market capitalization of $1.522 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding Integral Ad Science Holding Corp. (NASDAQ:IAS) in its first quarter 2024 investor letter:
“For the Communication Services sector, we generally prefer to invest in media and services companies that are either well placed from an advertising perspective with a target audience or provide differentiated services. Integral Ad Science Holding Corp. (NASDAQ:IAS) provides digital advertising verification services. The company reported a decent fourth quarter, with beats to sales and profit estimates. However, initial 2024 guidance was disappointing to investors and the stock retreated by -31%. Management disclosed they are offering more competitive pricing to strategic accounts. While near-term revenues will be impacted, they believe there are significant up-sell and cross-sell opportunities among this cohort.”
Small business owners with their laptops sitting at a coffee shop, discussing their digital advertising strategy.
Integral Ad Science Holding Corp. (NASDAQ:IAS) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Integral Ad Science Holding Corp. (NASDAQ:IAS) at the end of the first quarter which was 26 in the previous quarter. The total revenue of Integral Ad Science Holding Corp. (NASDAQ:IAS) in the first quarter increased 8% to $114.5 million. While we acknowledge the potential of Integral Ad Science Holding Corp. (NASDAQ:IAS) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Integral Ad Science Holding Corp. (NASDAQ:IAS) and shared the list of best marketing stocks to buy. In addition, please check out our hedge fund investor letters Q1 2024 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.
