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Does Unity Software (U) Have a Positive 2025 Outlook?

Soumya Eswaran
·2-min read

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. Mid-cap stocks demonstrated strength carried over from the end of last year, delivering robust returns during the first quarter. Among the style indexes, the Russell Midcap® Growth Index outperformed the Russell Midcap® Value Index by a modest margin, with growth up 9.49% and value up 8.23%. All sectors in the Russell Midcap Growth Index delivered positive gains during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.

Carillon Eagle Mid Cap Growth Fund highlighted stocks like Unity Software Inc. (NYSE:U), in the first quarter 2024 investor letter. Unity Software Inc. (NYSE:U) operates a platform that provides real-time 3D content and experiences. The one-month return of Unity Software Inc. (NYSE:U) was -22.39%, and its shares lost 37.75% of their value over the last 52 weeks. On May 29, 2024, Unity Software Inc. (NYSE:U) stock closed at $18.75 per share with a market capitalization of $7.329 billion.

Carillon Eagle Mid Cap Growth Fund stated the following regarding Unity Software Inc. (NYSE:U) in its first quarter 2024 investor letter:

"Unity Software Inc. (NYSE:U), a leading provider of mobile game development and monetization software, saw shares decline as the company detailed a restructuring strategy that will take some time to realize. Unity plans to divest its unprofitable and lower-margin segments such as professional services and to reaccelerate growth rates through product development and new partner distribution strategies. We expect the company to be largely through the transition by late 2024, and we believe investors should begin to anticipate the positive 2025 outlook well in advance."

A close-up of a hand holding a mobile device with a gaming app open on the screen.

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Unity Software Inc. (NYSE:U) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Unity Software Inc. (NYSE:U) at the end of the first quarter which was 38 in the previous quarter.

In another article, we discussed Unity Software Inc. (NYSE:U) and shared ChatGPT stock predictions that have 10X potential. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

If you are looking for an AI stock that is as promising as Microsoft but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.

Disclosure: None. This article is originally published at Insider Monkey.