Wasatch Global Investors, an investment management firm, released its “Wasatch Micro Cap Value Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark during the quarter. The quality-oriented positioning was the main reason for the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Wasatch Micro Cap Value Strategy highlighted stocks like OptimizeRx Corporation (NASDAQ:OPRX) in the third quarter 2023 investor letter. Headquartered in Rochester, Michigan, OptimizeRx Corporation (NASDAQ:OPRX) is a digital health technology company. On December 22, 2023, OptimizeRx Corporation (NASDAQ:OPRX) stock closed at $14.00 per share. One-month return of OptimizeRx Corporation (NASDAQ:OPRX) was 44.18%, and its shares lost 16.07% of their value over the last 52 weeks. OptimizeRx Corporation (NASDAQ:OPRX) has a market capitalization of $254.135 million.
Wasatch Micro Cap Value Strategy made the following comment about OptimizeRx Corporation (NASDAQ:OPRX) in its Q3 2023 investor letter:
“As for our sells, we exited OptimizeRx Corporation (NASDAQ:OPRX), which was a detractor from strategy performance during the third quarter. The company provides digital marketing services for pharmaceutical and other health-care-related businesses. Historically, OptimizeRx experienced resilient revenues and earnings amid weakening economic environments. But Q2 numbers were down unexpectedly, which may indicate that the company’s perceived value among customers has changed. In the future, we may come back to the name if further research shows that the company’s value proposition remains intact.”
A close up view of a person’s hands typing on a computer keyboard, emphasizing internet-based information technology services.
OptimizeRx Corporation (NASDAQ:OPRX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held OptimizeRx Corporation (NASDAQ:OPRX) at the end of third quarter which was 15 in the previous quarter.
We discussed OptimizeRx Corporation (NASDAQ:OPRX) in another article and shared the list of most promising micro-cap stocks according to analysts. 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.