If you are looking for the best ideas for your portfolio you may want to consider some of Palm Valley Capital Management’s top stock picks. Palm Valley Capital, an investment management firm, is bullish on Crimson Wine Group Ltd (OTCMKTS:CWGL) stock. In its Q2 2019 investor letter – you can download a copy here – the firm discussed its investment thesis on Crimson Wine Group Ltd (OTCMKTS:CWGL) stock. Crimson Wine Group Ltd (OTCMKTS:CWGL) is a winery company.
On July 1, 2019, Palm Valley Capital had released its Q2 2019 investor letter. The investment firm said that Crimson Wine Group Ltd (OTCMKTS:CWGL) was one of the ten equities that the fund held in Q2 2019. The stock has posted a return of -29.5% in the trailing one year period, underperforming fund’s benchmark the S&P Small Cap 600 Index which returned -2.2% in the same period. This suggests that the investment firm was wrong in its decision. On a year-to-date basis, Crimson Wine Group Ltd (OTCMKTS:CWGL) stock has fallen by 29.1%.
Palm Valley Capital fund posted a return of 0.7% from April 30, 2019 through June 30, 2019, outperforming fund’s benchmark the S&P Small Cap 600 Index which returned -1.9% in the same period. Let’s take a look at comments made by Palm Valley Capital about Crimson Wine Group Ltd (OTCMKTS:CWGL) in the Q2 2019 investor letter.
“Crimson Wine Group produces premium wines from California, Oregon, and Washington. The firm owns six vineyards and wineries in Napa, Sonoma, and other top winegrowing districts. Over the past several years, the company has experienced contracting margins as a result of brisk increases in grape prices. Crimson sources two-thirds of its grapes from independent growers. However, the value of Crimson’s prime acreage has continued to appreciate, particularly in Napa Valley, where land is scarce. We believe Crimson sells for a discount to the value of its vineyards, wineries, and inventory.”
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