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Here’s Why Cimpress plc (CMPR) Stock Fell in the Second Quarter

Diamond Hill Capital, an investment advisor, released its “All Cap Select Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund performed on par with the Russell 3000 Index in the second quarter. The technology sector and consumer staples contributed positively to the fund’s performance in the quarter, while consumer discretionary and industrials sectors underperformed. In addition, you can check the top 5 holdings of the fund to know its best choices in 2022.

Diamond Hill Capital discussed stocks like Cimpress plc (NASDAQ:CMPR) in the second quarter 2022 investor letter. Based in Dundalk, Ireland, Cimpress plc (NASDAQ:CMPR) provides printing and related products’ mass customization. On October 3, 2022, Cimpress plc (NASDAQ:CMPR) stock closed at $25.08 per share. One-month return of Cimpress plc (NASDAQ:CMPR) was -17.93%, and its shares lost 72.25% of their value over the last 52 weeks. Cimpress plc (NASDAQ:CMPR) has a market capitalization of $655.483 million.

Here is what Diamond Hill Capital specifically said about Cimpress plc (NASDAQ:CMPR) in its Q2 2022 investor letter:

"Cimpress plc (NASDAQ:CMPR) operates a wide variety of businesses that use mass customization to produce small quantities of individually customized goods. The company’s most recent earnings were as anticipated, but its shares continued to come under pressure as widening high-yield spreads impacted the valuation of the enterprise."

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Cimpress plc (NASDAQ:CMPR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Cimpress plc (NASDAQ:CMPR) at the end of the second quarter which was 15 in the previous quarter.

We discussed Cimpress plc (NASDAQ:CMPR) in another article and shared Hayden Capital's views on the company. In addition, please check out our hedge fund investor letters Q2 2022 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.