Shift4 Payments (FOUR) Rose on an Encouraging Outlook for 2024

ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Strategy lagged behind the benchmark in the quarter due to the decline in consumer staples and health care, which was somewhat offset by strength in financials and industrials. The Strategy posted gains in six of the nine sectors in which it was invested on an absolute basis. Overall stock selection detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Small Cap Growth Strategy featured stocks such as Shift4 Payments, Inc. (NYSE:FOUR) in the fourth quarter 2023 investor letter. Headquartered in Allentown, Pennsylvania, Shift4 Payments, Inc. (NYSE:FOUR) provides payment processing technology and solutions. On January 12, 2024, Shift4 Payments, Inc. (NYSE:FOUR) stock closed at $74.72 per share. One-month return of Shift4 Payments, Inc. (NYSE:FOUR) was 1.47%, and its shares gained 19.42% of their value over the last 52 weeks. Shift4 Payments, Inc. (NYSE:FOUR) has a market capitalization of $6.159 billion.

ClearBridge Small Cap Growth Strategy stated the following regarding Shift4 Payments, Inc. (NYSE:FOUR) in its fourth quarter 2023 investor letter:

“Two sectors that saw stronger performance into year-end were financials and industrials, both of which were solid performers in the fourth quarter. This was largely driven by stock-specific performance. Shift4 Payments, Inc. (NYSE:FOUR), a provider of payment and processing solutions largely to niche verticals, provided an encouraging outlook for 2024, which supported outperformance in the quarter.”

A modern payment processor with illuminated buttons in a busy financial district.

Shift4 Payments, Inc. (NYSE:FOUR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held Shift4 Payments, Inc. (NYSE:FOUR) at the end of third quarter which was 26 in the previous quarter.

We discussed Shift4 Payments, Inc. (NYSE:FOUR) in another article and shared the list of stocks receiving upgrades from analysts. In addition, please check out our hedge fund investor letters Q4 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.