Is it a Wise Decision to Acquire Carriage Services (CSV) Shares?

Steel City Capital, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. Steel City Capital, LP (the “Partnership”) was essentially flat in the first quarter of 2022, net of fees and expenses. The Partnership declined 1.4% in April, bringing YTD’22 results to a negative 1.5%. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Steel City Capital mentioned Carriage Services, Inc. (NYSE:CSV) and explained its insights for the company. Founded in 1991, Carriage Services, Inc. (NYSE:CSV)  is a Houston, Texas-based professional funeral and cemetery services provider with a $665.7 million market capitalization. Carriage Services, Inc. (NYSE:CSV)  delivered a -32.74% return since the beginning of the year, while its 12-month returns are up by 12.22%. The stock closed at $43.34 per share on May 04, 2022.

Here is what Steel City Capital has to say about Carriage Services, Inc. (NYSE:CSV) in its Q1 2022 investor letter:

“The Partnership is also short peer Carriage Services (NYSE:CSV). Management there is living in a state of denial – while SCI’s management has at least acknowledged the meaningful COVID-bump will likely recede, CSV’s leadership has attributed their strong performance over the past several years to managerial prowess.”

Our calculations show that Carriage Services, Inc. (NYSE:CSV) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Carriage Services, Inc. (NYSE:CSV) was in 14 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 14 funds in the previous quarter. Carriage Services, Inc. (NYSE:CSV)delivered a -12.18% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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