Meridian Funds, managed by ArrowMark Partners, released its “Meridian Hedged Equity Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 5.82% (net) compared to a 7.56% gain for the S&P 500 Index benchmark. The firm focuses on quality businesses that have considerable competitive advantages, healthy balance sheets, robust cash flow characteristics, and muted volatility traits to mitigate capital losses during market fluctuations and experience upside participation during strong bull markets. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Meridian Hedged Equity Fund highlighted stocks like Sally Beauty Holdings, Inc. (NYSE:SBH) in the Q4 2022 investor letter. Headquartered in Denton, Texas, Sally Beauty Holdings, Inc. (NYSE:SBH) is a professional beauty supplies retailer and distributor. On March 28, 2023, Sally Beauty Holdings, Inc. (NYSE:SBH) stock closed at $15.34 per share. One-month return of Sally Beauty Holdings, Inc. (NYSE:SBH) was -3.94%, and its shares lost 3.10% of their value over the last 52 weeks. Sally Beauty Holdings, Inc. (NYSE:SBH) has a market capitalization of $1.646 billion.
Meridian Hedged Equity Fund made the following comment about Sally Beauty Holdings, Inc. (NYSE:SBH) in its Q4 2022 investor letter:
“Sally Beauty Holdings, Inc. (NYSE:SBH) is a global distributor and retailer of beauty products that serves both retail customers and salon professionals. The company reported results that beat analyst expectations and provided 2023 guidance in-line with expectations. Entering the quarter, investors were concerned about macroeconomic impacts on Sally Beauty customers, but the company continues to make progress on its turnaround efforts. Most notably, it accelerated its store optimization plan during the quarter, including the closure of approximately 350 stores with the majority shut down in December.”
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Sally Beauty Holdings, Inc. (NYSE:SBH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Sally Beauty Holdings, Inc. (NYSE:SBH) at the end of the fourth quarter which was 20 in the previous quarter.
We discussed Sally Beauty Holdings, Inc. (NYSE:SBH) in another article and shared the list of best bargain stocks to buy in March. In addition, please check out our hedge fund investor letters Q4 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.
