Ariel Investment, an investment management company, released its “Ariel Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the fund generated a loss of -7.47%, underperforming the Russell 2500 Value Index, which returned a loss of -4.50%, and the Russell 2500 Index, which returned a -2.82% loss. Inflation concerns, Russia-Ukraine tension, energy price, and Federal Reserve’s aggressive actions impacted the investors’ confidence in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Ariel Investment highlighted stocks like ADT Inc. (NYSE:ADT) in the Q3 2022 investor letter. Headquartered in Boca Raton, Florida, ADT Inc. (NYSE:ADT) is a smart home solutions provider. On December 1, 2022, ADT Inc. (NYSE:ADT) stock closed at $9.68 per share. One-month return of ADT Inc. (NYSE:ADT) was 17.19% and its shares gained 16.07% of their value over the last 52 weeks. ADT Inc. (NYSE:ADT) has a market capitalization of $8.842 billion.
Ariel Investment made the following comment about ADT Inc. (NYSE:ADT) in its Q3 2022 investor letter:
“Leading provider of automated security solutions ADT Inc. (NYSE:ADT) advanced in the period. This quarter’s financial results continue to show that last year’s elevated investment in customer acquisition is paying off. Revenue and EBITDA came in ahead of consensus, and the company reported positive adjusted net income for the first time since its initial public offering. Additionally, the company announced another strategic partnership, this time with State Farm, the nation’s largest insurer. Longer term, we believe ADT’s industry-leading brand and national presence, coupled with these nascent partnerships with Google and State Farm, position it to be a prime beneficiary of growing demand for smart home technologies, including fully monitored residential security.”
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ADT Inc. (NYSE:ADT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held ADT Inc. (NYSE:ADT) at the end of the third quarter which was 23 in the previous quarter.
We discussed ADT Inc. (NYSE:ADT) in another article and shared the best single digit stocks to buy. 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.