Yahoo Finance Exponent (EXPO) Shares Sold Off as it Fell Short of Estimates
TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter the fund returned 5.77% (net), compared to a 7.58% return for the Russell 2000 Growth Index. Despite a decline in many equity markets in January, they rebounded over the following two months, resulting in a robust 2024 first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.
TimesSquare Capital U.S. Small Cap Growth Strategy highlighted stocks like Exponent, Inc. (NASDAQ:EXPO), in the first quarter 2024 investor letter. Exponent, Inc. (NASDAQ:EXPO) is a science and engineering consulting company. The one-month return of Exponent, Inc. (NASDAQ:EXPO) was -1.59%, and its shares gained 0.63% of their value over the last 52 weeks. On June 20, 2024, Exponent, Inc. (NASDAQ:EXPO) stock closed at $94.75 per share with a market capitalization of $4.801 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding Exponent, Inc. (NASDAQ:EXPO) in its first quarter 2024 investor letter:
"Many of our Industrial positions provide necessary business-to-business operational services, highly technical components, automation & efficiency improvements, or essential infrastructure services. Exponent, Inc. (NASDAQ:EXPO) is an engineering and scientific consulting company. The company fell short of estimates for the fourth quarter, causing a -7% selloff in its shares and we reduced this holding."
A chemical engineer studying a lab sample of a food product for safety regulations.
Exponent, Inc. (NASDAQ:EXPO) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Exponent, Inc. (NASDAQ:EXPO) at the end of the first quarter which was 19 in the previous quarter. In the first quarter of 2024, Exponent, Inc.’s (NASDAQ:EXPO) total revenues increased rose 3.3% to $144.9 million. While we acknowledge the potential of Exponent, Inc. (NASDAQ:EXPO) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Exponent, Inc. (NASDAQ:EXPO) and shared Baron Small Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q1 2024 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.
