Is Children’s Place (PLCE) Trading at Attractive Valuation?

Choice Equities Capital Management, a hedge fund manager, released its third-quarter 2023 investor letter recently. You can view it here. In the third quarter, the fund generated -14.6% on a net basis which brought the year-to-date net performance to -6.2%. This compares to Russell 2000’s -5.1% loss for the quarter and +2.5% gain year-to-date. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Choice Equities highlighted stocks like The Children’s Place, Inc. (NASDAQ:PLCE) in the third quarter 2023 investor letter. Headquartered in Secaucus, New Jersey, The Children’s Place, Inc. (NASDAQ:PLCE) is a children’s specialty apparel retailer. On November 6, 2023, The Children’s Place, Inc. (NASDAQ:PLCE) stock closed at $26.13 per share. One-month return of The Children’s Place, Inc. (NASDAQ:PLCE) was 4.10%, and its shares lost 27.76% of their value over the last 52 weeks. The Children’s Place, Inc. (NASDAQ:PLCE) has a market capitalization of $326.074 million.

Choice Equities made the following comment about The Children’s Place, Inc. (NASDAQ:PLCE) in its Q3 2023 investor letter:

“Other core holdings continue to trade at attractive valuations. The Children’s Place, Inc. (NASDAQ:PLCE) looks set to generate nearly half its market cap in cash this year and is trading at a mid-20s free cash flow yield on sustainable cash flow levels.”

A colorful assortment of children’s apparel with different themes, capturing the dynamism of the business.

The Children’s Place, Inc. (NASDAQ:PLCE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held The Children’s Place, Inc. (NASDAQ:PLCE) at the end of second quarter which was 20 in the previous quarter.

We discussed The Children’s Place, Inc. (NASDAQ:PLCE) in another article and Choice Equities Capital Management’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.