HCI Group (HCI) Rose on Strong Quarterly Results
Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” fourth-quarter 2023 investor letter, a copy of which can be downloaded here. In the fourth quarter, the portfolio gained +14.1% on a net basis, lagging behind R2000V’s advance of +15.2% and above R2500V’s rise of +13.7%. The largest contribution to the gains on the portfolio was the industrial sector. Within Industrials, stock selection was the primary driver. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bernzott Capital Advisors US Small Cap Value Fund featured stocks such as HCI Group, Inc. (NYSE:HCI) in the fourth quarter 2023 investor letter. Headquartered in Tampa, Florida, HCI Group, Inc. (NYSE:HCI) is an insurance company that engages in property and casualty insurance, reinsurance, real estate, and information technology businesses. On February 13, 2024, HCI Group, Inc. (NYSE:HCI) stock closed at $93.67 per share. One-month return of HCI Group, Inc. (NYSE:HCI) was 6.17%, and its shares gained 82.45% of their value over the last 52 weeks. HCI Group, Inc. (NYSE:HCI) has a market capitalization of $912.175 million.
Bernzott Capital Advisors US Small Cap Value Fund stated the following regarding HCI Group, Inc. (NYSE:HCI) in its fourth quarter 2023 investor letter:
"HCI Group, Inc. (NYSE:HCI: Strong quarterly results and the assumption of in-force premiums from Citizens Property Insurance Corporation drove stock performance during the quarter. The company is also seeking to unlock value of TypTap, a proprietary technology that identifies profitable insurance customers, via an IPO."
An insurance agent at their desk consulting a customer about property & casualty insurance.
HCI Group, Inc. (NYSE:HCI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held HCI Group, Inc. (NYSE:HCI) at the end of third quarter which was 11 in the previous quarter.
We discussed HCI Group, Inc. (NYSE:HCI) in another article and shared Bernzott Capital Advisors US Small Cap Value Fund's views on the company in the previous quarter. 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.
