Do You Think Bright Horizons Family Solutions (BFAM) is Regaining Its Growth Trajectory?
Conestoga Capital Advisors, an asset management company, released its “SMid Cap Growth Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The Conestoga SMid Cap Growth Composite rose 8.52% net of fees in the second quarter, compared to the Russell 2500 Growth Index’s 6.41% return. A mix of both sector allocation and stock selection contributed positively to the relative return of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga Smid Cap Strategy highlighted stocks like Bright Horizons Family Solutions Inc. (NYSE:BFAM) in the second quarter 2023 investor letter. Headquartered in Newton, Massachusetts, Bright Horizons Family Solutions Inc. (NYSE:BFAM) is an early education and childcare provider. On August 11, 2023, Bright Horizons Family Solutions Inc. (NYSE:BFAM) stock closed at $94.90 per share. One-month return of Bright Horizons Family Solutions Inc. (NYSE:BFAM) was -0.89%, and its shares gained 21.64% of their value over the last 52 weeks. Bright Horizons Family Solutions Inc. (NYSE:BFAM) has a market capitalization of $5.486 billion.
Conestoga Smid Cap Strategy made the following comment about Bright Horizons Family Solutions Inc. (NYSE:BFAM) in its second quarter 2023 investor letter:
"A mix of stock selection and sector allocation effects added to relative return in the quarter. Positive stock selection effects were concentrated in the Consumer Discretionary and Utilities sectors. Within Consumer Discretionary, the strategy’s exposure to SiteOne Landscape Supply Inc. (SITE), Rollins Inc. (ROL), and Bright Horizons Family Solutions Inc. (NYSE:BFAM) each added to relative returns. Each of these companies posted better-than-expected revenue growth during the quarter. We were particularly pleased to see BFAM’s results, as this provider of corporate-sponsored childcare services struggled through the pandemic but now appears to be regaining its growth trajectory."
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Bright Horizons Family Solutions Inc. (NYSE:BFAM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held Bright Horizons Family Solutions Inc. (NYSE:BFAM) at the end of the first quarter which was 19 in the previous quarter.
We discussed Bright Horizons Family Solutions Inc. (NYSE:BFAM) in another article and shared Brown Capital Management’s views on the company. 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.
