Yahoo Finance How Does the Resolute AI Acquisition Impact Research Solutions (RSSS)?
Long Cast Advisers, an investment management firm, released its fourth quarter 2023 investor letter, a copy of which can be downloaded here. While the major indices saw double-digit gains in certain situations, the cumulative returns of the fund for the 4Q23 quarter (which ended on December 31, 2023) were -8%. Cumulative net returns were +10% for the year. LCA has returned a total of 165% net of fees, or 13% CAGR, since its launch in November 2015 through the end of the third quarter of 2023. Examine the top 5 holdings of the fund for a brief understanding of their best picks for 2023.
Long Cast Advisers featured stocks such as Research Solutions, Inc. (NASDAQ:RSSS) in the fourth quarter 2023 investor letter. Headquartered in Henderson, Nevada, Research Solutions, Inc. (NASDAQ:RSSS) offers a cloud-based software-as-a-service research platform. On February 12, 2024, Research Solutions, Inc. (NASDAQ:RSSS) stock closed at $2.67 per share. One-month return of Research Solutions, Inc. (NASDAQ:RSSS) was 5.53%, and its shares gained 15.09% of their value over the last 52 weeks. Research Solutions, Inc. (NASDAQ:RSSS) has a market capitalization of $87.094 million.
Long Cast Advisers stated the following regarding Research Solutions, Inc. (NASDAQ:RSSS) in its fourth quarter 2023 investor letter:
"Finally, following its acquisition of Resolute AI in July for $4.6M, Research Solutions, Inc. (NASDAQ:RSSS) acquired the larger AI related company Scite in November for $14M, completing its long-anticipated acquisition strategy. Together these companies add over $5M in recurring revenues. More importantly, they add more solutions in the core life sciences business and cross selling opportunities in the academic space, where Scite has a larger presence."
A closeup of a software engineer showing the complexity of software development.
Research Solutions, Inc. (NASDAQ:RSSS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 4 hedge fund portfolios held Research Solutions, Inc. (NASDAQ:RSSS) at the end of third quarter which was 4 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
