Liberty Park Capital Management, LLC, a financial management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund rose 7.45%, net of fees, in the first quarter compared to the Russell 2000 Index’s 2.74% return. The long position of the fund gained 6.02% while the short position fell 1.25% in the quarter. The long position contributed 6.16% and the short position contributed 1.08% on a weight-adjusted basis. Liberty Park Select Opportunities, LP’s value returned 0.57%, net of fees in the first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Liberty Park Capital highlighted stocks like Kornit Digital Ltd. (NASDAQ:KRNT) in the first quarter 2023 investor letter. Headquartered in Rosh HaAyin, Israel, Kornit Digital Ltd. (NASDAQ:KRNT) develops and manufactures industrial and commercial printing solutions for garments, apparel, and textile industries. On May 02, 2023, Kornit Digital Ltd. (NASDAQ:KRNT) stock closed at $17.87 per share. One-month return of Kornit Digital Ltd. (NASDAQ:KRNT) was 0.17%, and its shares lost 75.59% of their value over the last 52 weeks. Kornit Digital Ltd. (NASDAQ:KRNT) has a market capitalization of $893.521 million.
Liberty Park Capital made the following comment about Kornit Digital Ltd. (NASDAQ:KRNT) in its Q1 2023 investor letter:
“We are pleased that Liberty Park Fund, LP has gotten off to a strong start in 2023. January was a particularly strong month for both of our funds, and LPF was able to use the market’s strength to install several new short positions; those positions greatly helped the portfolio in February and March as the market receded.
Kornit Digital Ltd. (NASDAQ:KRNT) lowered its guidance and delayed its return to profitability as machine orders are being pushed out. Despite the near-term pressure on equipment sales, the high-margin consumables (textile inks) business continues to grow and is underappreciated by investors.”
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Kornit Digital Ltd. (NASDAQ:KRNT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Kornit Digital Ltd. (NASDAQ:KRNT) at the end of the fourth quarter which was 22 in the previous quarter.
We discussed Kornit Digital Ltd. (NASDAQ:KRNT) in another article and shared Wasatch Ultra Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 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.
