Victory Capital Holdings Inc. (VCTR) plunged 16.21% in pre-market trading on Friday, despite the company reporting better-than-expected fourth-quarter earnings and revenue.
The investment management firm's Q4 results showed some concerning trends in key metrics that could be weighing on investor sentiment. Despite beating earnings per share and revenue estimates, Victory Capital missed expectations for ending assets under management and reported net client cash outflows in several key strategies.
Notably, the company's U.S. Mid Cap Equity and U.S. Small Cap Equity strategies saw net client cash outflows of $718 million and $822 million, respectively, in the quarter. These outflows, combined with lower-than-expected ending assets under management in certain strategies, suggest potential challenges in attracting and retaining client assets, raising concerns about future growth prospects.
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