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LVS Advisory, a New York City-based full-service investment firm, recently released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. The LVS Event-Driven portfolio had a strong Q3 and appreciated nearly 5% in the first nine months. Despite a challenging Q1, the portfolio is on track for the year, albeit below average. It has maintained a strong performance with no down years or drawdowns over 6% since its inception in 2019. The LVS Growth Portfolio gained 27.1% for the first nine months and extended its lead compared to the S&P 500 during the third quarter. For more information on the fund’s top picks in 2024, please check its top five holdings.
LVS Advisory highlighted stocks like Medpace Holdings, Inc. (NASDAQ:MEDP), in the third quarter 2024 investor letter. Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research-based drug and medical device development services provider. The one-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was -2.21%, and its shares gained 52.93% of their value over the last 52 weeks. On October 15, 2024, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $353.30 per share with a market capitalization of $10.953 billion.
LVS Advisory stated the following regarding Medpace Holdings, Inc. (NASDAQ:MEDP) in its Q3 2024 investor letter:
"This quarter I will discuss an investment we made in Medpace Holdings, Inc. (NASDAQ:MEDP). We initiated a small position in Medpace during the fourth quarter of 2023, but we increased our investment after the company’s stock price declined following its Q2 earnings miss. I will provide an overview of the Company and discuss why I believe the issues weighing on the stock are likely temporary and provide a buying opportunity for investors.
A medical professional in a lab coat discussing with a colleague.
Medpace Holdings, Inc. (NASDAQ:MEDP) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Medpace Holdings, Inc. (NASDAQ:MEDP) at the end of the second quarter which was 40 in the previous quarter. Medpace Holdings, Inc.’s (NASDAQ:MEDP) second quarter revenue was $528.1 million, up 14.6% year-over-year. While we acknowledge the potential of Medpace Holdings, Inc. (NASDAQ:MEDP) 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.