Jackson Peak Capital, an investment management firm, released its fourth quarter 2023 investor letter, a copy of which can be downloaded here. As of Q4 2023, the company has completed ten months of investing activities since its March 2023 launch. Jackson Peak had a great quarter with a net return of +9.9% and a gross return of +12.0%. Following the pattern seen in Q3, broad equities markets fell in October before pulling back sharply to rebound in November and December. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Jackson Peak Capital featured stocks like Target Hospitality Corp. (NASDAQ:TH) in its Q4 2023 investor letter. Headquartered in The Woodlands, Texas, Target Hospitality Corp. (NASDAQ:TH) provides specialty rental and hospitality services. On February 27, 2024, Target Hospitality Corp. (NASDAQ:TH) stock closed at $9.71 per share. One-month return of Target Hospitality Corp. (NASDAQ:TH) was 0.73%, and its shares lost 34.52% of their value over the last 52 weeks. Target Hospitality Corp. (NASDAQ:TH) has a market capitalization of $987.128 million.
Jackson Peak Capital stated the following regarding Target Hospitality Corp. (NASDAQ:TH) in its fourth quarter 2023 investor letter:
“For the detractors, the largest was Target Hospitality Corp. (NASDAQ:TH). This was an event-driven investment predicated on a thesis that government contracts relating to the crisis at the US Southern Border would lead to a meaningful re-rating of the company’s equity. Ultimately, our thesis on the company receiving the contract was correct although the structure of the contract was suboptimal. If the structure was more fortuitous, this investment would have made us multiples of what we lost, so this is why we thought the risk-reward was attractive ex ante.”
STUDIO GRAND OUEST/Shutterstock.com
Target Hospitality Corp. (NASDAQ:TH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Target Hospitality Corp. (NASDAQ:TH) was held by 34 hedge fund portfolios, up from 28 in the previous quarter, according to our database.
We discussed Target Hospitality Corp. (NASDAQ:TH) in another article and shared the list of best falling stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 15 Countries with Cyber Warfare Capabilities
- These 10 Stocks Can Skyrocket if Donald Trump Wins US Election 2024
- 13 Best Silver Mining Stocks to Invest in Now
Disclosure: None. This article is originally published at Insider Monkey.
