Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Value Fund” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund fell -3.13%, underperforming its benchmark index, the Russell Microcap Index, which declined -0.48%. Holdings in information technology, consumer discretionary, and zero exposure to the real estate sector were the sources of the fund’s strength in the quarter. In contrast, stock selection in health care and consumer staples and overweight position in industrials dragged the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Global Investors highlighted stocks like Allied Motion Technologies Inc. (NASDAQ:AMOT) in its Q3 2022 Investor letter. Headquartered in Amherst, New York, Allied Motion Technologies Inc. (NASDAQ:AMOT) is engaged in the business of precision and specialty controlled motion components. On December 30, 2022, Allied Motion Technologies Inc. (NASDAQ:AMOT) stock closed at $34.81 per share. One-month return of Allied Motion Technologies Inc. (NASDAQ:AMOT) was -4.10% and its shares lost 16.14% of their value over the last 52 weeks. Allied Motion Technologies Inc. (NASDAQ:AMOT) has a market capitalization of $553.124 million.
Wasatch Global Investors made the following comment about Allied Motion Technologies Inc. (NASDAQ:AMOT) in its Q3 2022 investor letter:
“We also bought Allied Motion Technologies Inc. (NASDAQ:AMOT), which designs, manufactures and sells motion-control products for a wide variety of markets. The company tends to generate slowbut-steady organic growth. Allied Motion complements this organic growth with acquisitions of businesses that typically produce faster growth and higher margins. We believe the combination of organic growth and acquisition-based growth is often a winning formula, and we’re especially optimistic regarding Allied Motion.”
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Allied Motion Technologies Inc. (NASDAQ:AMOT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Allied Motion Technologies Inc. (NASDAQ:AMOT) at the end of the third quarter, which was 9 in the previous quarter.
We discussed Allied Motion Technologies Inc. (NASDAQ:AMOT) in another article and shared Argosy Investors’ views on the company. 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.