TimesSquare Capital Management, an equity investment management company, released its “U.S. Focus Growth Strategy” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the strategy returned 0.08% (gross) and -0.13% (net) compared to -3.21% for the Russell Midcap Growth Index. The equity markets performed well in the second quarter, as long as one held only a small number of the biggest, fastest-growing U.S. stocks (i.e., the Magnificent Seven). In addition, please check the fund’s top five holdings to know its best picks in 2024.
TimesSquare Capital Management U.S. Focus Growth Strategy highlighted stocks like Verisk Analytics, Inc. (NASDAQ:VRSK) in the Q2 2024 investor letter. Verisk Analytics, Inc. (NASDAQ:VRSK) offers data analytics solutions to the insurance markets. The one-month return of Verisk Analytics, Inc. (NASDAQ:VRSK) was 1.87%, and its shares gained 11.42% of their value over the last 52 weeks. On September 10, 2024, Verisk Analytics, Inc. (NASDAQ:VRSK) stock closed at $273.60 per share with a market capitalization of $38.967 billion.
TimesSquare Capital Management U.S. Focus Growth Strategy stated the following regarding Verisk Analytics, Inc. (NASDAQ:VRSK) in its Q2 2024 investor letter:
“On the positive side, we saw a 15% gain from Verisk Analytics, Inc. (NASDAQ:VRSK), which provides risk information and analysis for the property/casualty insurance industry. The company’s revenues and earnings bested expectations. Organic revenue growth was solid, margins improved, and Verisk’s management was optimistic on the profitability for the overall insurance industry.”
An engineer using the latest predictive analytics software to formulate solutions.
Verisk Analytics, Inc. (NASDAQ:VRSK) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Verisk Analytics, Inc. (NASDAQ:VRSK) at the end of the second quarter which was 47 in the previous quarter. The second quarter revenue of Verisk Analytics, Inc. (NASDAQ:VRSK) was $717 million, up 6.2% from Q2 2023. While we acknowledge the potential of Verisk Analytics, Inc. (NASDAQ:VRSK) 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 Verisk Analytics, Inc. (NASDAQ:VRSK) and shared Conestoga Capital Advisors’ views on the company. In addition, please check out our hedge fund investor letters Q2 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.
