Is Visteon (VC) a Good Value Investment?
ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Value Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy underperformed the benchmark Russell 2000 Value Index in the fourth quarter. The strategy generated gains across eight of the 11 sectors in which it was invested during the quarter, on an absolute basis. Overall sector allocation and stock selection effects detracted from the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Small Cap Value Strategy featured stocks like Visteon Corporation (NASDAQ:VC) in the Q4 2023 investor letter. Headquartered in Van Buren, Michigan, Visteon Corporation (NASDAQ:VC) is an automotive technology company. On March 13, 2024, Visteon Corporation (NASDAQ:VC) stock closed at $117.83 per share. One-month return of Visteon Corporation (NASDAQ:VC) was -4.30%, and its shares lost 25.60% of their value over the last 52 weeks. Visteon Corporation (NASDAQ:VC) has a market capitalization of $3.239 billion.
ClearBridge Small Cap Value Strategy stated the following regarding Visteon Corporation (NASDAQ:VC) in its fourth quarter 2023 investor letter:
"Our largest new position during the quarter was Visteon Corporation (NASDAQ:VC), an automotive technology company in the consumer discretionary sector that designs and manufacturers automotive electronics and connected car solutions such as informational displays, voice-automated assistants, telematic controls and wired and wireless battery management systems. We believe that neither Visteon’s revenue growth potential nor the resulting margins and profits are accounted for in the current stock price. Visteon continues to win new business at an accelerating rate as many of its solutions address key points of vehicle differentiation, performance, safety and efficiency."
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Visteon Corporation (NASDAQ:VC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Visteon Corporation (NASDAQ:VC) was held by 33 hedge fund portfolios, compared to 22 in the previous quarter, according to our database.
We discussed Visteon Corporation (NASDAQ:VC) in another article and shared the list of best auto components and parts stocks to buy. 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.
