Here’s Why Merion Road Capital Exited Westwood Holdings Group (WHG)
Merion Road Capital, an investment advisor, released its third-quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Merion Road Small Cap Fund returned (3.1%) compared to a (5.2%) return for the Russell 2000 Index and (0.4%) for the Barclay Hedge Fund Index. Furthermore, MRCM Long Only Large Cap returned (2.6%) compared to a (3.2%) return for the S&P 500 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Merion Road Capital highlighted stocks like Westwood Holdings Group, Inc. (NYSE:WHG) in the Q3 2023 investor letter. Based in Dallas, Texas, Westwood Holdings Group, Inc. (NYSE:WHG) is an investment management company. On October 20, 2023, Westwood Holdings Group, Inc. (NYSE:WHG) stock closed at $9.06 per share. One-month return of Westwood Holdings Group, Inc. (NYSE:WHG) was -8.94%, and its shares lost 10.39% of their value over the last 52 weeks. Westwood Holdings Group, Inc. (NYSE:WHG) has a market capitalization of $83.195 million.
Merion Road Capital made the following comment about Westwood Holdings Group, Inc. (NYSE:WHG) in its Q3 2023 investor letter:
"The Small Cap Fund was down 3.1% in Q3. I did some repositioning in this portfolio as well. Notably I fully exited our position in Westwood Holdings Group, Inc. (NYSE:WHG). I miscalculated on management here and ultimately realized that any value in the business will continue to get siphoned away to employees."
A financial advisor going over an investment trust portfolio with a couple. Editorial photo for a financial news article. 8k. --ar 16:9
Westwood Holdings Group, Inc. (NYSE:WHG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 7 hedge fund portfolios held Westwood Holdings Group, Inc. (NYSE:WHG) at the end of second quarter which was 9 in the previous quarter.
We discussed Westwood Holdings Group, Inc. (NYSE:WHG) in another article and shared Merion Road Capital's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.
