Carillon Scout Mid Cap Fund Believes Decline in the Earnings of Splunk (SPLK) is Temporary
Carillon Tower Advisers, an investment management company, released its “Carillon Scout Mid Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, majority of the equity indexes declined due to interest rate hikes, Russia-Ukraine war, and Federal Reserve's balance-sheet tapering. Mid-cap and small-cap stocks poorly performed in the quarter relative to other investments. The fund’s portfolio was most overweight in the utilities and consumer staples sectors and is currently underweight in the information technology sector. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Carillon Tower Advisers discussed stocks like Splunk Inc. (NASDAQ:SPLK) in the second quarter 2022 investor letter. Headquartered in San Francisco, California, Splunk Inc. (NASDAQ:SPLK) is a software solutions company. On October 5, 2022, Splunk Inc. (NASDAQ:SPLK) stock closed at $83.31 per share. One-month return of Splunk Inc. (NASDAQ:SPLK) was -6.66% and its shares lost 44.49% of their value over the last 52 weeks. Splunk Inc. (NASDAQ:SPLK) has a market capitalization of $13.555 billion.
Here is what Carillon Tower Advisers specifically said about Splunk Inc. (NASDAQ:SPLK) in its Q2 2022 investor letter:
“Splunk Inc. (NASDAQ:SPLK), a leader in artificial intelligence solutions for corporate data logs and security, fell in a weak tech group. The company has been transitioning to more of a software-as-a service (SaaS) business model that has, we believe, temporarily depressed earnings and cash flow. We like Splunk’s leadership position in the industry and the company has installed a new CEO and is rolling out new features and products.”
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Splunk Inc. (NASDAQ:SPLK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Splunk Inc. (NASDAQ:SPLK) at the end of the second quarter which was 42 in the previous quarter.
We discussed Splunk Inc. (NASDAQ:SPLK) in another article and shared Vulcan Value Partners’ views on the company. In addition, please check out our hedge fund investor letters Q2 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.
