Here’s Why U. S. Physical Therapy (USPH) Rose in Q1
Conestoga Capital Advisors, an asset management company, released its “Micro Cap Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The Micro Cap Composite rose 2.93% net of fees in the first quarter, compared to the Russell Microcap Growth Index’s 0.76% return. The Strategy posted 10.45% annualized returns since its inception at the end of 2019. Both positive stock selection and sector allocation equally contributed to the relative outperformance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga Micro Cap Strategy highlighted stocks like U.S. Physical Therapy, Inc. (NYSE:USPH) in the first quarter 2023 investor letter. Based in Houston, Texas, U.S. Physical Therapy, Inc. (NYSE:USPH) operates outpatient physical therapy clinics. On May 24, 2023, U.S. Physical Therapy, Inc. (NYSE:USPH) stock closed at $96.51 per share. One-month return of U.S. Physical Therapy, Inc. (NYSE:USPH) was -9.31%, and its shares lost 12.65% of their value over the last 52 weeks. U.S. Physical Therapy, Inc. (NYSE:USPH) has a market capitalization of $1.261 billion.
Conestoga Micro Cap Strategy made the following comment about U.S. Physical Therapy, Inc. (NYSE:USPH) in its Q1 2023 investor letter:
"U.S. Physical Therapy, Inc. (NYSE:USPH): USPH acquires, develops, and operates outpatient and occupational therapy clinics with over 600 clinics in 40 states. USPH, which has had challenges on the labor front and on its cost, posted solid results with 9% top line growth and 13% EBITDA growth. The stock rose in the quarter as USPH is seeing improved cost/labor metrics and is also seeing improvements in commercial pricing."
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U.S. Physical Therapy, Inc. (NYSE:USPH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held U.S. Physical Therapy, Inc. (NYSE:USPH) at the end of the first quarter 2023 which was 10 in the previous quarter.
We discussed U.S. Physical Therapy, Inc. (NYSE:USPH) in another article and shared Carillon Tower Advisers' views on the company. In addition, please check out our hedge fund investor letters Q1 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.
