Here’s Why Clark Street Value Plans to Re-Take its Position in LGL Group (LGL)

Clark Street Value, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be seen here. An annual portfolio return of 74.99% was recorded by the fund for the year 2021, versus 28.71% for the S&P 500, and an IRR since the inception of 29.12%.  over the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Clark Street Value, in its Q4 2021 investor letter, mentioned The LGL Group, Inc. (NYSE: LGL) and discussed its stance on the firm. The LGL Group, Inc. is an Orlando, Florida-based holding company with a $56.0 million market capitalization. LGL delivered a -7.46%% return since the beginning of the year, while its 12-month returns are down by -6.14%. The stock closed at $10.55 per share on January 13, 2022.

Here is what Clark Street Value has to say about The LGL Group, Inc. in its Q4 2021 investor letter:

“LGL Group (LGL) got caught up in the “high redemption, low float SPAC” trend that lasted a few weeks.  LGL was invested in the SPAC sponsor of DFNS, DFNS had options available on it and when 90+% of the SPAC’s shareholders redeemed for trust value, the newly public IronNet (IRNT) became a meme stock due to limited float and options/gamma squeeze possibilities.  I sold my warrants I held into that madness for a gain.  The company is doing a spinoff of their operating business in Q1, I plan to revisit early next year and might re-take a position.”

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Our calculations show that The LGL Group, Inc. (NYSE: LGL) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. LGL was in 4 hedge fund portfolios at the end of the third quarter of 2021, compared to 4 funds in the previous quarter. The LGL Group, Inc. (NYSE: LGL) delivered a -19.31% return in the past 3 months.

You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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