Investment management company Cove Street Capital recently released its “Small Cap Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -5.15% compared to -2.19% for the Russell 2000 Index and -4.61% for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Cove Street Capital highlighted stocks like CarGurus, Inc. (NASDAQ:CARG) in its third-quarter investor letter. Headquartered in Cambridge, Massachusetts, CarGurus, Inc. (NASDAQ:CARG) is an online marketplace for used cars. On November 25, 2022, CarGurus, Inc. (NASDAQ:CARG) stock closed at $12.96 per share. One-month return of CarGurus, Inc. (NASDAQ:CARG) was -10.99% and its shares lost 65.24% of their value over the last 52 weeks. CarGurus, Inc. (NASDAQ:CARG) has a market capitalization of $1.541 billion.
Cove Street Capital made the following comment about CarGurus, Inc. (NASDAQ:CARG) in its Q3 2022 investor letter:
“During the quarter, we started a new position in CarGurus, Inc. (NASDAQ:CARG). The company historically has been a lead generation business, helping car dealers find consumers who are looking to buy or sell a car online. CARG has been successful at this by having world-class search engine optimization (SEO) and search engine marketing (SEM) that helps them achieve top search results on Google. Consumers click these top links on Google when buying or selling a car...
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