What Makes TaskUs (TASK) an Attractive Investment Opportunity?
Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Growth—U.S. Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy declined and underperformed its benchmark, the Russell Microcap Index in the fourth quarter, which gained 4.72%. The disappointing returns in industrials, financials, and consumer discretionary were the primary source of the strategy’s weakness relative to the benchmark while consumer staples positively contributed to the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Micro Cap Growth—U.S. Strategy highlighted stocks like TaskUs, Inc. (NASDAQ:TASK) in its Q4 2022 investor letter. Headquartered in New Braunfels, Texas, TaskUs, Inc. (NASDAQ:TASK) is a digital outsourcing services provider. On March 21, 2023, TaskUs, Inc. (NASDAQ:TASK) stock closed at $14.75 per share. One-month return of TaskUs, Inc. (NASDAQ:TASK) was -24.36%, and its shares lost 62.29% of their value over the last 52 weeks. TaskUs, Inc. (NASDAQ:TASK) has a market capitalization of $1.438 billion.
Wasatch Micro Cap Growth—U.S. Strategy made the following comment about TaskUs, Inc. (NASDAQ:TASK) in its Q4 2022 investor letter:
“We’re pleased to report that our travel schedule to visit companies has ramped up. Most recently, we went to Texas for meetings with the management teams of TaskUs, Inc. (NASDAQ:TASK) and CS Disco, Inc. (LAW). TaskUS is a newer holding for us. The company is a leader in business-process outsourcing, including customer service and content monitoring. The company’s strong execution has earned it a reputation as the go-to partner for high-growth technology businesses. The bear market and some minor company-specific issues pushed down the market capitalization of TaskUS into the micro-cap range, enabling us to add this high-quality company to the strategy.”
TaskUs, Inc. (NASDAQ:TASK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held TaskUs, Inc. (NASDAQ:TASK) at the end of the fourth quarter which was 11 in the previous quarter.
We discussed TaskUs, Inc. (NASDAQ:TASK) in another article and shared stock picks of billionaire Jorge Paulo Lemann’s 3G Capital as of the end of third quarter last year. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.