Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund delivered a return of 3.96% net of fees (4.11% gross of fees) trailing the Russell 2000 Index’s 5.18% total return. Security selection detracted from the performance while allocation effects positively contributed. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Aristotle Capital Small Cap Equity Strategy highlighted stocks like ATN International, Inc. (NASDAQ:ATNI), in the first quarter 2024 investor letter. ATN International, Inc. (NASDAQ:ATNI), with a market capitalization of $360.567 million, offers digital infrastructure and communications services to residential, commercial, and government. The one-month return of ATN International, Inc. (NASDAQ:ATNI) was 20.59%, and its shares lost 38.51% of their value over the last 52 weeks. On May 24, 2024, ATN International, Inc. (NASDAQ:ATNI) stock closed at $23.54 per share.
Aristotle Capital Small Cap Equity Strategy stated the following regarding ATN International, Inc. (NASDAQ:ATNI) in its first quarter 2024 investor letter:
“ATN International, Inc. (NASDAQ:ATNI), a provider of telecommunications services to rural, niche, and other under-served markets, was removed from the portfolio. Despite the company’s efforts to expand its broadband network in recent years, a variety of factors contributed to our decision to step away from our investment including competitive pressures and our general concerns regarding the company’s capital allocation strategy moving forward.”
Workers installing a complex telecommunications infrastructure within an urban cityscape.
ATN International, Inc. (NASDAQ:ATNI) reported a softer-than-expected first-quarter result, with revenue at $186.8 million, up 1%, and adjusted EBITDA down 3% compared to the prior year quarter.
ATN International, Inc. (NASDAQ:ATNI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held ATN International, Inc. (NASDAQ:ATNI) at the end of the first quarter which was 5 in the previous quarter. 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.