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DLocal Limited (DLO) Cooled Down in Q1 After Strong Performance

Soumya Eswaran
·3 分鐘文章

Polen Capital, an investment management company, released its “Polen Emerging Markets Growth Strategy” first quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned 1.48% gross and 1.25% net of fees in the quarter compared to 2.37% for the MSCI Emerging Markets Index. Emerging market securities rose in the quarter, carrying over the upward trend from the fourth quarter of 2023. Despite the strong returns of the asset class over the previous six months, emerging equities continued to underperform developed markets. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Polen Emerging Markets Growth Strategy highlighted stocks like DLocal Limited (NASDAQ:DLO), in the first quarter 2024 investor letter. DLocal Limited (NASDAQ:DLO) is a payment processing platform. DLocal Limited's (NASDAQ:DLO) one-month return was -37.83%, and its shares lost 28.08% of their value over the last 52 weeks. On June 5, 2024, DLocal Limited (NASDAQ:DLO) stock closed at $8.35 per share with a market capitalization of $2.413 billion.

Polen Emerging Markets Growth Strategy stated the following regarding DLocal Limited (NASDAQ:DLO) in its first quarter 2024 investor letter:

"DLocal Limited (NASDAQ:DLO), a payments processing company headquartered in Uruguay, pulled back after a period of solid performance. The share price increased sharply in mid-2023 as the former Mercado Libre CFO, Pedro Arnt, was appointed as its new co-CEO, signifying the growing relevance of the company in the payments segment. More recently, the company released softer-than- expected results despite seeing 55% revenue growth and 26% gross profit growth. This was due to various factors, including a shifting revenue mix towards larger clients, tighter capital controls in Argentina, and increased processing costs."

A modern payment processor with illuminated buttons in a busy financial district.

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DLocal Limited (NASDAQ:DLO) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held DLocal Limited (NASDAQ:DLO) at the end of the first quarter which was 25 in the previous quarter. DLocal Limited (NASDAQ:DLO) saw a 34% year-over-year increase in revenue during the quarter, totaling $184 million. While we acknowledge the potential of DLocal Limited (NASDAQ:DLO) 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.

In another article, we discussed DLocal Limited (NASDAQ:DLO) and shared Alger Small Cap Growth Fund's views on the company. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.

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