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Investment management firm Sandbrook Capital Partners has released its January 2024 Investor Letter. You can download a copy of the same here. The fund returned 1.68% in January, matching the return of the S&P 500 Total Return Index. Throughout the month, the company operated a mostly neutral net, with two odd trades resulting in wins. Short-term performance, including rebates, was somewhat positive, but long-term performance accounted for most of the increase. Additionally, you can check out the fund’s top five holdings to learn about the best stocks for 2024.
Sandbrook Capital Partners featured stocks such as FIGS, Inc. (NYSE:FIGS) in its January 2024 Investor Letter. Figs, Inc. (NYSE:FIGS), headquartered in Santa Monica, California, is a U.S.-based healthcare apparel and lifestyle company. On February 16, 2024, FIGS, Inc. (NYSE:FIGS) stock closed at $6.27 per share. His 1-month return for Figs, Inc. (NYSE:FIGS) is 4.67%, and the company’s stock has lost 33.01% of its value over the past 52 weeks. Figs, Inc. (NYSE:FIGS) has a market capitalization of $1.06 billion.
Sandbrook Capital Partners said the following about FIGS, Inc. (NYSE:FIGS) in its January 2024 investor letter:
“Added core long position” Figs Co., Ltd. (NYSE:FIGS) is around $5.80 per share this month. I have been following FIGS for several years and believe its current structure, growth initiatives, and revenue profile provide an attractive entry point.
As always in these letters, keep the company and industry background brief (email or call us for more information) and focus on the key points of your paper.
Figs is a DTC scrub provider known for reinventing the category with contemporary fabrics and silhouettes. The company competes with traditional strip mall medical store vendors, traditional uniform companies like Dickies and Cherokee, and copycat upstarts like Mandala and Jaanuu. We like the strong cohort economics (including repeat purchase rate) and brand leadership in a large healthcare professional market (approximately 10 million people in the U.S.)…” (Click here to read the full story) read)
Smiling medical staff wearing hospital uniforms designed by the company.
Figs, Inc. (NYSE:FIGS) isn’t on the list of 30 most popular stocks among hedge funds. According to our database, FIGS, Inc. (NYSE:FIGS) was held by 17 hedge fund portfolios at the end of the fourth quarter, compared to 17 in the prior quarter.
We discussed Figs, Inc. (NYSE:FIGS) in a separate article and shared Baron Focused Growth Fund’s take on the company last quarter. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q4 2023 page.
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Disclosure: None. This article was originally published on Insider Monkey.
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