OneMain Holdings (OMF) Declined on Investors’ Concerns

Gator Capital Management, an asset management company, recently released its first-quarter investor letter. A copy of the same can be downloaded here. The fund trailed the broader benchmarks in the first quarter while outperformed the financials sector benchmark. Gator Financial Partners returned 1.72% in the quarter compared to 7.50% for the S&P 500 Total Return Index and -5.92% for the S&P 1500 Financials Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Gator Capital Management highlighted stocks OneMain Holdings, Inc. (NYSE:OMF) in the first quarter 2023 investor letter. Headquartered in Evansville, Indiana, OneMain Holdings, Inc. (NYSE:OMF) is a financial service holding company. On June 8, 2023, OneMain Holdings, Inc. (NYSE:OMF) stock closed at $43.59 per share. One-month return of OneMain Holdings, Inc. (NYSE:OMF) was 22.65%, and its shares gained 9.39% of their value over the last 52 weeks. OneMain Holdings, Inc. (NYSE:OMF) has a market capitalization of $5.256 billion.

Gator Capital Management made the following comment about OneMain Holdings, Inc. (NYSE:OMF) in its first quarter 2023 investor letter:

“We like Virtus Investment Partners and OneMain Holdings, Inc. (NYSE:OMF). Virtus is an investment manager trading at 6x earnings with zero net debt. The company has been using their cash flow to make acquisitions of smaller investment managers and to repurchase their own stock. Virtus was down 16% in March despite their assets under management increasing in both March and in Q1. OneMain Financial is a sub-prime lender and is not a bank. The company funds its balance sheet in the capital markets and is fully-funded with mostly fixed-rate liabilities. The stock was down 15% in March and trades at 6x earnings.”

Finance, Investments

OneMain Holdings, Inc. (NYSE:OMF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held OneMain Holdings, Inc. (NYSE:OMF) at the end of first quarter 2023 which was 35 in the previous quarter.

We discussed OneMain Holdings, Inc. (NYSE:OMF) in another article and shared the list of best value stocks to buy according to Legendary Bill Miller. 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.