What Makes Exponent (EXPO) an Attractive Investment Opportunity?
Conestoga Capital Advisors, an asset management company, released its “Mid Cap Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The Mid Cap Composite rose 10.23% net of fees in the first quarter, compared to the Russell Midcap Growth Index’s 9.14% return. The strategy primarily benefitted from the stock selection while the sector allocation also contributed to the relative performance. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga Mid Cap Strategy highlighted stocks like Exponent, Inc. (NASDAQ:EXPO) in the first quarter 2023 investor letter. Headquartered in Menlo Park, California, Exponent, Inc. (NASDAQ:EXPO) is a science and engineering consulting company. On May 26, 2023, Exponent, Inc. (NASDAQ:EXPO) stock closed at $91.98 per share. One-month return of Exponent, Inc. (NASDAQ:EXPO) was -0.08%, and its shares gained 1.21% of their value over the last 52 weeks. Exponent, Inc. (NASDAQ:EXPO) has a market capitalization of $4.676 billion.
Conestoga Mid Cap Strategy made the following comment about Exponent, Inc. (NASDAQ:EXPO) in its Q1 2023 investor letter:
"Exponent, Inc. (NASDAQ:EXPO): Founded in 1967 and headquartered in Menlo Park, CA, EXPO is a global engineering and consulting company that specializes in the analysis of products, people, property, processes and finances related to litigation, product recall, regulatory compliance and development and design. EXPO has over 750 employees and more than 450 of those have PhD’s in their field of expertise. EXPO benefits from its breadth of services, offering over 90 disciplines versus a typical competitor with five or less. EXPO has been a steady grower that generates a material amount of cash flow, which has historically been used to benefit shareholders. With litigation and high profile accidents (BP Oil Spill, DeflateGate, Toyota Unexpected Acceleration Recall, etc.) as the source of their demand, the company operates a business model that is less sensitive to the macro economy. EXPO is also held in our Small Cap and SMid Cap Growth strategies."
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Exponent, Inc. (NASDAQ:EXPO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Exponent, Inc. (NASDAQ:EXPO) at the end of first quarter 2023 which was 18 in the previous quarter.
We discussed Exponent, Inc. (NASDAQ:EXPO) in another article and shared the list of best consulting stocks to buy. In addition, please check out our hedge fund investor letters Q1 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.
