Published on 10 Oct 2023 on Insider Monkey via Yahoo Finance

Here’s Why Cove Street Capital Sold Commvault Systems (CVLT)

Investment management company Cove Street Capital recently released its “Small Cap Value Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. During the calendar third quarter of 2023, financial markets were chaotic, causing CSC shareholders to lose some gains from the first half, both relatively and absolutely. In the third quarter, the fund delivered -7.48% compared to a -5.13% return for the Russell 2000 Index and a -2.96% return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Cove Street Small Cap Value Fund highlighted stocks like Commvault Systems, Inc. (NASDAQ:CVLT) in the third quarter 2023 investor letter. Headquartered in Tinton Falls, New Jersey, Commvault Systems, Inc. (NASDAQ:CVLT) offers a data protection platform. On October 9, 2023, Commvault Systems, Inc. (NASDAQ:CVLT) stock closed at $68.86 per share. One-month return of Commvault Systems, Inc. (NASDAQ:CVLT) was 1.29%, and its shares gained 29.39% of their value over the last 52 weeks. Commvault Systems, Inc. (NASDAQ:CVLT) has a market capitalization of $3.03 billion.

Cove Street Small Cap Value Fund made the following comment about Commvault Systems, Inc. (NASDAQ:CVLT) in its Q3 2023 investor letter: