Published on 28 Mar 2024 on Insider Monkey via Yahoo Finance
CarGurus (CARG) Increased on Accelerated Marketplace Growth
Meridian Funds, managed by ArrowMark Partners, released its “Meridian Small Cap Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the final months of the year, optimism prevailed due to news of reducing inflation and the potential for lower interest rates in 2024. The fund returned 13.64% (net) in the fourth quarter compared to the Russell 2000 Growth Index’s12.75% return. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Meridian Small Cap Growth Fund featured stocks like CarGurus, Inc. (NASDAQ:CARG) in the Q4 2023 investor letter. Headquartered in Cambridge, Massachusetts, CarGurus, Inc. (NASDAQ:CARG) is an online automotive marketplace. On March 27, 2024, CarGurus, Inc. (NASDAQ:CARG) stock closed at $23.00 per share. One-month return of CarGurus, Inc. (NASDAQ:CARG) was 5.26%, and its shares gained 28.06% of their value over the last 52 weeks. CarGurus, Inc. (NASDAQ:CARG) has a market capitalization of $2.471 billion.
Meridian Small Cap Growth Fund stated the following regarding CarGurus, Inc. (NASDAQ:CARG) in its fourth quarter 2023 investor letter: