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Here’s Why Bernzott Capital Disposed its Quotient Technology (QUOT) Position

Bernzott Capital Advisors, an investment management firm, published its "US Small Cap Value Fund" third-quarter 2022 investor letter – a copy of which can be downloaded here. During the third quarter of the year, the portfolio fell –9.48% (net), below the R2000V’s decline of –4.6% and the R2500V’s decline of –4.5%. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Bernzott Capital Advisors US Small Cap Value Fund mentioned Quotient Technology Inc. (NYSE:QUOT) and explained its insights for the company. Founded in 1998, Quotient Technology Inc. (NYSE:QUOT) is a Salt Lake City, Utah-based digital media and promotions technology company with a $296.8 million market capitalization. Quotient Technology Inc. (NYSE:QUOT) delivered a -58.63% return since the beginning of the year, while its 12-month returns are down by -56.76%. The stock closed at $3.07 per share on November 23, 2022.

Here is what Bernzott Capital Advisors US Small Cap Value Fund has to say about Quotient Technology Inc. (NYSE:QUOT) in its Q3 2022 investor letter:

"Quotient Technology (NYSE:QUOT): We sold on execution missteps, including a significant customer loss and an uneven product transition, as well as management changes, all hindering efforts to capture the shift from paper to digital coupons on a reasonable timeframe."

Our calculations show that Quotient Technology Inc. (NYSE:QUOT) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Quotient Technology Inc. (NYSE:QUOT) was in 17 hedge fund portfolios at the end of the second quarter of 2022, compared to 21 funds in the previous quarter. Quotient Technology Inc. (NYSE:QUOT) delivered a 52.74% return in the past 3 months.

In September 2022, we also shared another hedge fund’s views on Quotient Technology Inc. (NYSE:QUOT) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

 

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Disclosure: None. This article is originally published at Insider Monkey.