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Is East Resources Acquisition Co. (ERESU) a Worthy Investment?

ClearBridge Investments, an investment management firm, published its “Small Cap Strategy” third-quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Small Cap Strategy underperformed its Russell 2000 Index benchmark during the third quarter. On an absolute basis, the Strategy had losses in nine out of 11 sectors in which it was invested during the quarter. The leading detractors were the IT and communication services sectors, positive contributors included the consumer staples sector and the utility sector was flat for the period. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, ClearBridge Investments Small Cap Strategy mentioned East Resources Acquisition Company (NASDAQ:ERESU) and explained its insights for the company. Founded in 2020, East Resources Acquisition Company (NASDAQ:ERESU) is a Boca Raton, Florida-based capital market company. East Resources Acquisition Company (NASDAQ:ERESU) delivered a -1.77% return since the beginning of the year, while its 12-month returns are down by -0.74%. The stock closed at $10.12 per share on November 22, 2022.

Here is what ClearBridge Investments Small Cap Strategy has to say about East Resources Acquisition Company (NASDAQ:ERESU) in its Q3 2022 investor letter:

"During the period, portfolio holding East Resources Acquisition (NASDAQ:ERESU), a special-purpose acquisition company (SPAC), voted to extend its investment window and allowed the portfolio managers to redeem their investment for cash, which we did."

Investments, Finance
Investments, Finance

Investments, Finance

Our calculations show that East Resources Acquisition Company (NASDAQ:ERESU) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. East Resources Acquisition Company (NASDAQ:ERESU) delivered a -0.13% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

 

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Disclosure: None. This article is originally published at Insider Monkey.