雅虎香港財經 What Makes Tidewater (TDW) an Attractive Investment Bet?
Third Avenue Management, an investment management company based in New York City, released its “Small-Cap Value Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The fund returned 4.16% in the first quarter compared to a 0.66% decline for the Russell 2000 Value Index. The market witnessed extreme volatility in the quarter with a 9.5% increase in the Index in January and an over 15% decline until the last week of March. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Third Avenue Small-Cap Value Fund highlighted stocks like Tidewater Inc. (NYSE:TDW) in the first quarter 2023 investor letter. Headquartered in Houston, Texas, Tidewater Inc. (NYSE:TDW) provides offshore support vessels and marine support services to the offshore energy industry. On May 9, 2023, Tidewater Inc. (NYSE:TDW) stock closed at $45.32 per share. One-month return of Tidewater Inc. (NYSE:TDW) was -0.79%, and its shares gained 122.81% of their value over the last 52 weeks. Tidewater Inc. (NYSE:TDW) has a market capitalization of $2.305 billion.
Third Avenue Small-Cap Value Fund made the following comment about Tidewater Inc. (NYSE:TDW) in its Q1 2023 investor letter:
"Energy services provider, Tidewater Inc. (NYSE:TDW), was also active in the first quarter. It has diligently maintained a strong balance sheet since going public in 2017 while enduring depression level industry conditions since that time. Plenty of peers are still laboring against heavy debt burdens. Tidewater was able to take advantage by purchasing assets from Solstad Offshore in the first quarter, expanding its fleet by nearly 20%. The pricing was attractive and should help Tidewater benefit from the potential for heightened offshore oil drilling over the next few years."
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Tidewater Inc. (NYSE:TDW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Tidewater Inc. (NYSE:TDW) at the end of the fourth quarter which was 21 in the previous quarter.
We discussed Tidewater Inc. (NYSE:TDW) in another article and shared the list of best-performing small-cap stocks of 2022. In addition, please check out our hedge fund investor letters Q1 2023 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.
