Here’s Why Baron Funds Invested in Diversey Holdings (DSEY)

Baron Funds, an asset management company, released its “Baron Asset Fund” investor letter. You can download a copy of the same here. In the second quarter, the fund fell 21.09%. However, the firm believes that the fund is positioned to perform well in the current market concerns of recession and inflation. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Baron Funds discussed stocks like Diversey Holdings, Ltd. (NASDAQ:DSEY). This stock was one of the top contributing performers to the fund in the quarter. Headquartered in Fort Mill, South Carolina, Diversey Holdings, Ltd. (NASDAQ:DSEY) is an infection prevention and cleaning solutions provider. On August 29, 2022, Diversey Holdings, Ltd. (NASDAQ:DSEY) stock closed at $6.34 per share. One-month return of Diversey Holdings, Ltd. (NASDAQ:DSEY) was -15.01% and its shares lost 63.71% of their value over the last 52 weeks. Diversey Holdings, Ltd. (NASDAQ:DSEY) has a market capitalization of $2.056 billion.

Here is what Baron Funds specifically said about Diversey Holdings, Ltd. (NASDAQ:DSEY):

“Diversey Holdings, Ltd. (NASDAQ:DSEY) is global leader in infection prevention, hygiene, and cleaning solutions. Its shares stabilized during the quarter after a first quarter sell-off. The price of raw materials Diversey needs to make its products has risen sharply in the inflationary environment, and the company increased its prices and added energy-related surcharges to mitigate some of these cost pressures.”

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Diversey Holdings, Ltd. (NASDAQ:DSEY) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Diversey Holdings, Ltd. (NASDAQ:DSEY) was held by 12 hedge fund portfolios at the end of the second quarter compared to 15 in the previous quarter.

We discussed Diversey Holdings, Ltd. (NASDAQ:DSEY) in another article and shared the list of stocks that Dan Loeb’s Third Point is selling. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.