Do You Believe in the Growth Prospects of Quest Resource Holding Corporation (QRHC)?
Long Cast Advisers, LLC, a small-cap-focused investment manager, released its second quarter 2023 investor letter. A copy of the same can be downloaded here. The cumulative net returns of the fund for Q2 2023 were flat and year-to-date the fund’s return was 11%. The fund has returned a cumulative 166% net of fees, or 14% CAGR since inception in November 2015 through quarter end 2Q23. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Long Cast Advisers highlighted stocks like Quest Resource Holding Corporation (NASDAQ:QRHC) in the second quarter 2023 investor letter. Headquartered in The Colony, Texas, Quest Resource Holding Corporation (NASDAQ:QRHC) provides waste and recycling services. On September 25, 2023, Quest Resource Holding Corporation (NASDAQ:QRHC) stock closed at $7.32 per share. One-month return of Quest Resource Holding Corporation (NASDAQ:QRHC) was -2.40%, and its shares lost 1.08% of their value over the last 52 weeks. Quest Resource Holding Corporation (NASDAQ:QRHC) has a market capitalization of $144.805 million.
Long Cast Advisers made the following comment about Quest Resource Holding Corporation (NASDAQ:QRHC) in its Q2 2023 investor letter:
"Quest Resource Holding Corporation (NASDAQ:QRHC). One of our longest-term holdings, it acts as a platform manager of independent waste services. The company swallowed a big acquisition and carries a hefty debt load as a result. This adds a tinge of worry. If they can pay down some debt or refinance at less onerous interest rates, something I think will be available to them possibly by year end, the benefits would fall to the bottom line. We’ve owned this as the company evolved from “crawling to a walking” and I expect soon it will be set up for the long haul to “run” with the opportunity to blossom into something bigger."
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Quest Resource Holding Corporation (NASDAQ:QRHC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 7 hedge fund portfolios held Quest Resource Holding Corporation (NASDAQ:QRHC) at the end of second quarter which was 7 in the previous quarter.
We discussed Quest Resource Holding Corporation (NASDAQ:QRHC) in another article and shared the list of best waste management stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.
