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Should You Hold Global Payments (GPN) in Your Portfolio?

Asset management company Manole Capital Management recently released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. In 2022 the US stock market index, S&P 500, was highly volatile and declined by 25%. The fund mainly focuses on the payments industry, a securely growing segment. During this fluctuating market, the firm is prepared and accounts for this volatility in its portfolio.  For more information on the fund’s top picks in 2022, please check its top five holdings.

Manole Capital Management mentioned Global Payments Inc. (NYSE:GPN) in its third-quarter investor letter. Based in Atlanta, Georgia, Global Payments Inc. (NYSE:GPN) is a financial technology solutions company. On November 14, 2022, Global Payments Inc. (NYSE:GPN) stock closed at $103.23 per share. One-month return of Global Payments Inc. (NYSE:GPN) was -9.18%, while its shares lost 20.20% of their value over the last 52 weeks. Global Payments Inc. (NYSE:GPN) has a market capitalization of  $27.913 billion.

Manole Capital Management made the following comment about Global Payments Inc. (NYSE:GPN) in its Q3 2022 investor letter:

"Instead of dramatically increasing the size of this newsletter, where you feel bad about printing it out (and killing a tree), we are simply adding some links to our research. A few months ago, we published a stock-specific note on payment processor Global Payments Inc. (NYSE:GPN). We have owned GPN for nearly two decades and it currently is one of our largest positions. We highlight spending trends, eCommerce developments and how many of our payment companies can actually benefit from inflation and higher costs. We will discuss their business, industry trends, what is driving their growth, and then highlight its compelling valuation. If you wish to read that 18-page research note, just click here."

Global Payments Inc. (NYSE:GPN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 57 hedge fund portfolios held Global Payments Inc. (NYSE:GPN) at the end of the second quarter which was 64 in the previous quarter.

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We discussed Global Payments Inc. (NYSE:GPN) in another article and shared the best 52-week low stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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