Is Celsius Holdings (CELH) a Top Growth Stock?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund delivered negative returns in the third quarter. The portfolio recorded impressive gains at the beginning of the quarter. In contrast, there was a disappointing selloff at the end of the quarter. The Russell 2000 Growth Index was 0.26% up compared to a 4.60% decline for its counterpart, the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, Carillon Tower Advisers discussed stocks like Celsius Holdings, Inc. (NASDAQ:CELH). Headquartered in Boca Raton, Florida, Celsius Holdings, Inc. (NASDAQ:CELH) is a functional drink and liquid supplements manufacturer and distributor. On October 26, 2022, Celsius Holdings, Inc. (NASDAQ:CELH) stock closed at $89.37 per share. One-month return of Celsius Holdings, Inc. (NASDAQ:CELH) was -1.44% and its shares lost 7.41% of their value over the last 52 weeks. Celsius Holdings, Inc. (NASDAQ:CELH) has a market capitalization of $6.76 billion.

Carillon Tower Advisers made the following comment about Celsius Holdings, Inc. (NASDAQ:CELH) in its Q3 2022 investor letter:

Celsius Holdings, Inc. (NASDAQ:CELH) develops, markets, sells, and distributes functional fitness and lifestyle beverages. The company’s shares outperformed in the period as it was announced that a major global soft drink company would take a minority ownership stake in the company in a deal that also would involve a strategic distribution agreement. In addition, Celsius reported a strong quarter, and it continues to gain market share in the energy drink category.”

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Celsius Holdings, Inc. (NASDAQ:CELH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Celsius Holdings, Inc. (NASDAQ:CELH) at the end of the second quarter which was 15 in the previous quarter.

We discussed Celsius Holdings, Inc. (NASDAQ:CELH) in another article and shared the list of small-cap beverage stocks to consider. In addition, please check out our hedge fund investor letters Q3 2022 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.