Wasatch Global Investors, an investment management firm, published its “Wasatch Small Cap Growth Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the benchmark Russell 2000® Growth Index rose 0.01% while the Russell 2000 Index increased 2.14%. Underperforming its benchmark, the Wasatch Small Cap Growth Fund— Investor Class slipped -1.42%. For the one-year period ended December 31, 2021, the Fund’s Investor Class gained 8.32% compared to the 2.83% increase in the Russell 2000 Growth Index and the 14.82% rise in the Russell 2000 Index. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Wasatch Small Cap Growth Fund, in its Q4 2021 investor letter, mentioned Boot Barn Holdings, Inc. (NYSE: BOOT) and discussed its stance on the firm. Boot Barn Holdings, Inc. is an Irvine, California-based lifestyle retailer company with a $2.4 billion market capitalization. BOOT delivered a -32.48% return since the beginning of the year, while its 12-month returns are up by 37.73%. The stock closed at $83.08 per share on March 07, 2022.
Here is what Wasatch Small Cap Growth Fund has to say about Boot Barn Holdings, Inc. in its Q4 2021 investor letter:
“The top contributor to Fund performance for the fourth quarter was Boot Barn Holdings, Inc. (BOOT)—a specialty retailer offering increasingly popular Western and work-related apparel, footwear and accessories. Boots are somewhat resistant to online competition because they often require specialized fitting. The company has benefited from its economies of scale and multi-channel business model, which have kept revenues flowing during virus-related shutdowns. Stimulus payments by the federal government to consumers have helped as well. Boot Barn’s private-label brands, built around well-known personalities in the music business, have enabled the company to convert higher portions of its revenues into bottom-line profits. For most of the period since March 2020, Boot Barn’s stock rallied on these positive conditions—and this rally continued in the fourth quarter. We consider Boot Barn’s management to be excellent, and we’ve continually added to our position on periodic price weakness within the context of an overall upward trajectory in the stock.”
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Our calculations show that Boot Barn Holdings, Inc. (NYSE: BOOT) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. BOOT was in 34 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 28 funds in the previous quarter. Boot Barn Holdings, Inc. (NYSE: BOOT) delivered a -31.54% return in the past 3 months.
In September 2021, we also shared another hedge fund’s views on BOOT in another article. 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.
