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Verisk Analytics (VRSK) Stock Lagged Despite Solid Earnings

Baron Funds, an investment management company, released its “Baron Asset Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. US markets continued its strong rally in the first quarter. Robust economic data and relatively strong corporate earnings boosted the rally along with the anticipation of a soft landing of the market. The fund (Institutional Shares) appreciated 6.00% in the quarter compared to 9.50% for the Russell Midcap Growth Index and 10.56% for the S&P 500 Index. Stock selection and headwinds from the Fund’s longtime style biases led the fund to underperform in the first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Baron Asset Fund featured stocks like Verisk Analytics, Inc. (NASDAQ:VRSK) in the Q1 2024 investor letter. Based in Jersey City, New Jersey, Verisk Analytics, Inc. (NASDAQ:VRSK) offers data analytics solutions to the insurance markets. On May 13, 2024, Verisk Analytics, Inc. (NASDAQ:VRSK) stock closed at $246.34 per share. One-month return of Verisk Analytics, Inc. (NASDAQ:VRSK) was 10.91%, and its shares gained 12.94% of their value over the last 52 weeks. Verisk Analytics, Inc. (NASDAQ:VRSK) has a market capitalization of $35.147 billion.

Baron Asset Fund stated the following regarding Verisk Analytics, Inc. (NASDAQ:VRSK) in its first quarter 2024 investor letter:

"Investments in Industrials, Financials, Health Care, and IT were largely responsible for the relative shortfall in the period. Within Industrials, data and analytics vendor Verisk Analytics, Inc. reported solid quarterly earnings, but we believe the stock lagged as part of a broader market rotation away from steady-growing, compounding stocks. We maintain conviction in its competitive positioning, long-term growth, margin expansion, and capital deployment prospects for the business."

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Verisk Analytics, Inc. (NASDAQ:VRSK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Verisk Analytics, Inc. (NASDAQ:VRSK) was held by 32 hedge fund portfolios, compared to 38 in the previous quarter, according to our database. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

We discussed Verisk Analytics, Inc. (NASDAQ:VRSK) in another article and shared TimesSquare Capital U.S. Focus Growth Strategy’s views on the company. Verisk Analytics, Inc. (NASDAQ:VRSK) shares declined in Q4 2023 as well due to investors' concerns as mentioned the Baron Fund quarterly letter.

 

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Disclosure: None. This article is originally published at Insider Monkey.