Should You Consider Selling Nasdaq (NDAQ)?
TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was - 14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Nasdaq, Inc. (NASDAQ:NDAQ) in the fourth quarter 2023 investor letter. Headquartered in New York, New York, Nasdaq, Inc. (NASDAQ:NDAQ) is a technology company that serves capital markets and other industries. On March 27, 2024, Nasdaq, Inc. (NASDAQ:NDAQ) stock closed at $63.00 per share. One-month return of Nasdaq, Inc. (NASDAQ:NDAQ) was 11.86%, and its shares gained 16.47% of their value over the last 52 weeks. Nasdaq, Inc. (NASDAQ:NDAQ) has a market capitalization of $36.273 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Nasdaq, Inc. (NASDAQ:NDAQ) in its fourth quarter 2023 investor letter:
"In Financials, we prefer well-placed insurance companies and niche businesses while tending to avoid banks which face credit deterioration and rising deposit costs. Nasdaq, Inc. (NASDAQ:NDAQ) is engaged in trading, clearing, exchange technology, regulatory, securities listing, and company services. Earnings outpaced consensus estimates due to the combination of stronger revenues and lower operating expenses. We decided to sell out of the position due to the upcoming close on their Adenza acquisition. We question the merits of this deal and prefer to watch from the sidelines for the time being. Nasdaq edged forward by 3% for the time it was held this quarter."
A successful investor reviewing the NASDAQ-100 Index® portfolio on a touchscreen monitor.
Nasdaq, Inc. (NASDAQ:NDAQ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Nasdaq, Inc. (NASDAQ:NDAQ) was held by 30 hedge fund portfolios, compared to 37 in the previous quarter, according to our database.
We discussed Nasdaq, Inc. (NASDAQ:NDAQ) in another article and shared the list of best news and digital media stocks to buy. In addition, please check out our hedge fund investor letters Q4 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.
