Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. Small-cap stocks reported positive gains in the first quarter, consolidating the last year-end rally. Among the style indexes, the Russell 2000 Growth Index (up 7.58%) outperformed the Russell 2000 Value Index (up 2.91%) by a significant margin after two consecutive quarters of value outperformance. During the quarter, Information technology led the way by increasing 16.38%, outperforming the returns generated by its value counterparts. Please check the top five holdings of the fund to know more about its best picks in 2024.
Carillon Eagle Small Cap Growth Fund highlighted stocks like Five Below, Inc. (NASDAQ:FIVE), in the first quarter 2024 investor letter. Five Below, Inc. (NASDAQ:FIVE) is a US based specialty value retailer. The one-month return Five Below, Inc. (NASDAQ:FIVE) was -6.97%, and its shares lost 26.21% of their value over the last 52 weeks. On May 30, 2024, Five Below, Inc. (NASDAQ:FIVE) stock closed at $134.71 per share with a market capitalization of $7.435 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding Five Below, Inc. (NASDAQ:FIVE) in its first quarter 2024 investor letter:
“Five Below, Inc. (NASDAQ:FIVE) is a high-growth value retailer of trending products. The stock lagged as quarterly earnings and next fiscal-year guidance were below expectations. Continued high levels of inventory shrink, notably in the areas of self-checkout, have adversely impacted company performance. Management has put a plan in place to enhance security to help offset some of the theft.”
A family happily shopping for everyday items in a specialty retail store.
Five Below, Inc. (NASDAQ:FIVE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Five Below, Inc. (NASDAQ:FIVE) at the end of the first quarter which was 33 in the previous quarter.
In another article, we discussed Five Below, Inc. (NASDAQ:FIVE) and shared ClearBridge SMID Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q1 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.
