Commercial Vehicle Group (CVGI) Fell on Recession Fear

Liberty Park Capital Management, LLC, a financial management company, released its third quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund returned -2.29% net of fees, in the third quarter compared to a 5.10% decline in the Russell 2000 Index.  On a weight-adjusted basis, the 6.70% decline in the fund’s long holdings deducted 6.22%, while the 7.27% decline in its short positions added 3.67% to its returns. Liberty ParkSelect Opportunities decreased by 11.57%, net of fees, in the third quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Liberty Park Capital highlighted stocks like Commercial Vehicle Group, Inc. (NASDAQ:CVGI) in the third quarter 2023 investor letter. Headquartered in New Albany, Ohio, Commercial Vehicle Group, Inc. (NASDAQ:CVGI) manufacture, supply, and sale of cab-related products and systems. On December 15, 2023, Commercial Vehicle Group, Inc. (NASDAQ:CVGI) stock closed at $6.81 per share. One-month return of Commercial Vehicle Group, Inc. (NASDAQ:CVGI) was 7.24%, and its shares gained 1.19% of their value over the last 52 weeks. Commercial Vehicle Group, Inc. (NASDAQ:CVGI) has a market capitalization of $229.545 million.

Liberty Park Capital made the following comment about Commercial Vehicle Group, Inc. (NASDAQ:CVGI) in its Q3 2023 investor letter:

“Commercial Vehicle Group, Inc. (NASDAQ:CVGI) is a classic example of the low-quality, deeply cyclical businesses we seek as short positions. Despite reporting an in-line quarter, the company’s share price fell as recession fear were revived.”

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Commercial Vehicle Group, Inc. (NASDAQ:CVGI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held Commercial Vehicle Group, Inc. (NASDAQ:CVGI) at the end of third quarter which was 17 in the previous quarter.

We discussed Commercial Vehicle Group, Inc. (NASDAQ:CVGI) in another article and shared 180 Degree Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 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.