180 Degree Capital ( (TURN) ) has released its Q3 earnings. Here is a breakdown of the information 180 Degree Capital presented to its investors.
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180 Degree Capital Corp. is a publicly traded registered closed-end fund that focuses on investing in undervalued small publicly traded companies, aiming for significant turnarounds through constructive activism.
In its latest earnings report, 180 Degree Capital Corp. announced a net asset value per share of $4.40 as of September 30, 2024, and highlighted the challenges faced by small and microcapitalization stocks in the first three quarters of 2024.
The financial performance of 180 Degree Capital reflected a decrease in net asset value by 2.2% for the quarter, and a 12.4% year-to-date decline. Despite these setbacks, the company remains optimistic about the prospects for small capitalization stocks, citing historical low valuations and market trends that suggest potential future growth. Additionally, the company’s public portfolio showed varied performance, with returns excluding SMA carried interest at -0.4% for the quarter and 0.2% over the past year.
Looking forward, the management of 180 Degree Capital is hopeful about their investment strategy, positioning themselves to capitalize on potential market dislocations and growth opportunities in their investment universe. They emphasize the importance of understanding the management teams and markets of their portfolio companies to navigate potential volatility and uncertainty effectively.
