Will Bright Horizons Family Solutions (BFAM) Bounce Back?
Conestoga Capital Advisors, an asset management company, released its “Conestoga Smid Cap Growth Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the Smid Cap composite declined 4.15% compared to a 0.12% return for the Russell 2500 Growth Index. Stock selection in Utilities and Basic Materials contributed significantly to the fund’s relative performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Conestoga Capital Advisors highlighted stocks like Bright Horizons Family Solutions Inc. (NYSE:BFAM) in the Q3 2022 investor letter. Headquartered in Newton, Massachusetts, Bright Horizons Family Solutions Inc. (NYSE:BFAM) is an early education and childcare provider. On December 16, 2022, Bright Horizons Family Solutions Inc. (NYSE:BFAM) stock closed at $63.16 per share. One-month return of Bright Horizons Family Solutions Inc. (NYSE:BFAM) was -12.67%, and its shares lost 46.46% of their value over the last 52 weeks. Bright Horizons Family Solutions Inc. (NYSE:BFAM) has a market capitalization of $3.647 billion.
Conestoga Capital Advisors made the following comment about Bright Horizons Family Solutions Inc. (NYSE:BFAM) in its Q3 2022 investor letter:
“Bright Horizons Family Solutions Inc. (NYSE:BFAM) is the largest private sector provider of employer sponsored childcare. The stock sold off sharply following a disappointing quarter and the second consecutive reduction to full year guidance. The company’s enrollment is challenged by both demand (return to office childcare) and supply (labor shortage in some markets)."
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Bright Horizons Family Solutions Inc. (NYSE:BFAM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Bright Horizons Family Solutions Inc. (NYSE:BFAM) at the end of the third quarter, which was 23 in the previous quarter.
We discussed Bright Horizons Family Solutions Inc. (NYSE:BFAM) in another article and shared the list of largest education companies in the world. 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.
