Should You Exit Mastech Digital (MHH)?
Merion Road Capital, an investment advisor, released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, Merion Road Small Cap Fund returned 5.2% compared to a 5.3% return for the Russell 2000 Index and 2.1% for the Barclay Hedge Fund Index. Furthermore, MRCM Long Only Large Cap returned 13.4% compared to an 8.7% return for the S&P 500 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Merion Road Capital highlighted stocks like Mastech Digital, Inc. (NYSEMKT:MHH) in the second quarter 2023 investor letter. Headquartered in Pittsburgh, Pennsylvania, Mastech Digital, Inc. (NYSEMKT:MHH) is a digital transformation IT services provider that operates through Data and Analytics Services, and IT Staffing Services segments. On July 18, 2023, Mastech Digital, Inc. (NYSEMKT:MHH) stock closed at $10.89 per share. One-month return of Mastech Digital, Inc. (NYSEMKT:MHH) was 8.90%, and its shares lost 25.41% of their value over the last 52 weeks. Mastech Digital, Inc. (NYSEMKT:MHH) has a market capitalization of $126.883 million.
Merion Road Capital made the following comment about Mastech Digital, Inc. (NYSEMKT:MHH) in its second quarter 2023 investor letter:
"Our position in the IT staffing company and data & analytics company, Mastech Digital, Inc. (NYSEMKT:MHH), sold off in April on no news and was our largest detractor. Their most recent quarter was disappointing, but not entirely unexpected given macro headwinds and their outsized exposure to the banking industry."
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Mastech Digital, Inc. (NYSEMKT:MHH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 3 hedge fund portfolios held Mastech Digital, Inc. (NYSEMKT:MHH) at the end of first quarter which was 4 in the previous quarter.
We discussed Mastech Digital, Inc. (NYSEMKT:MHH) in another article and shared Merion Road Capital's views on the company in the previous quarter. 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.
