Wasatch Core Growth Fund recently released its Q4 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 26.5% for the quarter, underperforming its benchmark, the Russell 2000 Index which returned 31.4% in the same quarter. You should check out Wasatch’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q4 2020 Investor Letter, Wasatch highlighted a few stocks and Ollie’s Bargain Outlet Holdings Inc. (NASDAQ:OLLI) is one of them. Ollie’s Bargain Outlet Holdings Inc. (NASDAQ:OLLI) is a discount store company. In the last three months, Ollie’s Bargain Outlet Holdings Inc. (NASDAQ:OLLI) stock lost 3.5% and on February 23rd it had a closing price of $89.05. Here is what Wasatch said:
“Ollie’s Bargain Outlet Holdings, Inc. (OLLI) performed poorly too. The company operates a chain of retail stores offering overstock, closeout, irregular, salvage, refurbished and other categories of discount items. During the pandemic, Ollie’s has benefited from extremely strong demand for lowpriced consumer products. We think the stock was down during the fourth quarter because investors were worried that growth in 2021 may not be as robust as the double-digit percentage growth in 2020. For our part, we still think Ollie’s is capable of producing strong growth over the long term even if growth is light in 2021.”
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Last month, we published an article revealing that FAM Funds is betting on Ollie’s Bargain Outlet Holdings Inc. (NASDAQ:OLLI) stock. The investment management firm said that the company could survive COVID-19 and would emerge stronger.
In Q3 2020, the number of bullish hedge fund positions on Ollie’s Bargain Outlet Holdings Inc. (NASDAQ:OLLI) stock increased by about 42% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in OLLI’s growth potential. Our calculations showed that Ollie’s Bargain Outlet Holdings Inc. (NASDAQ:OLLI) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
