Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. After experiencing losses in the second quarter, small-cap stocks notably increased in the third quarter. The Russell 2000 Growth Index (up 8.41%) underperformed the Russell 2000 Value Index (up 10.11%). In addition, please check the fund’s top five holdings to know its best picks in 2024.
Carillon Eagle Small Cap Growth Fund highlighted stocks like Zeta Global Holdings Corp. (NYSE:ZETA), in the third quarter 2024 investor letter. Zeta Global Holdings Corp. (NYSE:ZETA) is a marketing technology software company. The one-month return of Zeta Global Holdings Corp. (NYSE:ZETA) was -29.14%, and its shares gained 134.94% of their value over the last 52 weeks. On November 26, 2024, Zeta Global Holdings Corp. (NYSE:ZETA) stock closed at $20.04 per share with a market capitalization of $4.76 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding Zeta Global Holdings Corp. (NYSE:ZETA) in its Q3 2024 investor letter:
“Zeta Global Holdings Corp. (NYSE:ZETA) is a marketing automation software vendor focused on customer data. The company has seen a healthy growth rate while posting solid margins and cash flow. This past quarter, investors appreciated acceleration in growth driven by Zeta’s artificial intelligence-based modules leading to increased spending on the company’s platform. Furthermore, Zeta’s exposure to political ad spending during a major election is raising expectations regarding growth in the second half of the year.”
A marketing manager looking at the data dashboard of a marketing automation software showing successful campaign results.
Zeta Global Holdings Corp. (NYSE:ZETA) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Zeta Global Holdings Corp. (NYSE:ZETA) at the end of the third quarter which was 27 in the previous quarter. In the third quarter, Zeta Global Holdings Corp. (NYSE:ZETA) reported revenue of $268 million, a 42% increase year-over-year, along with adjusted EBITDA of $54 million, reflecting a 59% year-over-year rise. While we acknowledge the potential of Zeta Global Holdings Corp. (NYSE:ZETA) 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 Zeta Global Holdings Corp. (NYSE:ZETA) and shared the list of best up and coming stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q3 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.