Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. Mid-cap stocks experienced mixed results in the fourth quarter after reporting positive gains in the previous quarter. The Russell Midcap Growth Index (up 8.14%) outperformed the Russell Midcap Value Index (fell 1.75%) during the quarter. Mid-cap stocks posted solid returns in 2024 similar to 2023. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like Axon Enterprise, Inc. (NASDAQ:AXON), in the fourth quarter 2024 investor letter. Axon Enterprise, Inc. (NASDAQ:AXON) manufacturers conducted energy devices (CEDs) under the TASER brand. The one-month return of Axon Enterprise, Inc. (NASDAQ:AXON) was 1.74%, and its shares gained 137.83% of their value over the last 52 weeks. On January 27, 2024, Axon Enterprise, Inc. (NASDAQ:AXON) stock closed at $604.68 per share with a market capitalization of $46.11 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Axon Enterprise, Inc. (NASDAQ:AXON) in its Q4 2024 investor letter:
“Axon Enterprise, Inc. (NASDAQ:AXON) provides next-generation law enforcement technology solutions. The company has continued to post impressive quarterly results, as it continues to exhibit ongoing success with innovative new product offerings that are garnering significant attention among both customers and investors. Axon remains intensely focused on the development of new solutions to address all aspects of law enforcement and has made significant strides recently in the emerging area of drones, as well as in artificial intelligence-enabled solutions used for evidence and administrative-related use cases. In addition, the company continues to execute within its core TASER, body camera, and software product offerings that have made Axon a household name in law enforcement.”
A technician in a white coat testing an in-car system on a modern military vehicle.
Axon Enterprise, Inc. (NASDAQ:AXON) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Axon Enterprise, Inc. (NASDAQ:AXON) at the end of the third quarter which was 36 in the previous quarter. In the third quarter, Axon Enterprise, Inc.’s (NASDAQ:AXON) revenue grew 32% year-over-year and delivered strong adjusted EBITDA with a 26.7% margin. While we acknowledge the potential of Axon Enterprise, Inc. (NASDAQ:AXON) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Axon Enterprise, Inc. (NASDAQ:AXON) and shared top AI news updates you should not miss. Axon Enterprise, Inc. (NASDAQ:AXON) positively impacted Baron Discovery Fund’s performance in Q4 2024 following the release of strong earnings. In addition, please check out our hedge fund investor letters Q3 2024 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.