Do You Expect Strong Secular Growth for Karat Packaging (KRT)?

Wasatch Global Investors, an investment management firm, released its “Wasatch Micro Cap Value Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark during the quarter. The quality-oriented positioning was the main reason for the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Wasatch Micro Cap Value Strategy highlighted stocks like Karat Packaging Inc. (NASDAQ:KRT) in the third quarter 2023 investor letter. Headquartered in Chino, California, Karat Packaging Inc. (NASDAQ:KRT) manufactures and distributes disposable products. On December 22, 2023, Karat Packaging Inc. (NASDAQ:KRT) stock closed at $24.19 per share. One-month return of Karat Packaging Inc. (NASDAQ:KRT) was 10.71%, and its shares gained 75.80% of their value over the last 52 weeks. Karat Packaging Inc. (NASDAQ:KRT) has a market capitalization of $482.939 million.

Wasatch Micro Cap Value Strategy made the following comment about Karat Packaging Inc. (NASDAQ:KRT) in its Q3 2023 investor letter:

“Karat Packaging Inc. (NASDAQ:KRT) performed well, too. The company makes environmentally friendly, recyclable containers for food packaging. Karat is valued at about 12 times EBITDA and is expected to see strong secular growth in an underpenetrated market that demands “green” packaging.”

An aerial view of a large warehouse full of food storage containers.

Karat Packaging Inc. (NASDAQ:KRT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Karat Packaging Inc. (NASDAQ:KRT) at the end of third quarter which was 5 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.