Should You Add Fox Factory Holding Corp. (FOXF) to Your Portfolio?

Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Growth Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed indexes, the Russell 2000 Growth Index and the Russell 2000 Index, which rose 4.13% and 6.23%, respectively. The weakness in information technology holdings and lack of exposure in the energy sector were the primary reasons for the underperformance of the strategy relative to the Russell 2000 Growth Index in the quarter whereas stocks in the healthcare and consumer sectors contributed to the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch Small Cap Growth Strategy highlighted stocks like Fox Factory Holding Corp. (NASDAQ:FOXF) in the Q4 2022 investor letter. Headquartered in Duluth, Georgia, Fox Factory Holding Corp. (NASDAQ:FOXF) is a ride dynamics products provider. On March 29, 2023, Fox Factory Holding Corp. (NASDAQ:FOXF) stock closed at $119.94 per share. One-month return of Fox Factory Holding Corp. (NASDAQ:FOXF) was 0.01%, and its shares gained 22.45% of their value over the last 52 weeks. Fox Factory Holding Corp. (NASDAQ:FOXF)  has a market capitalization of $5.074 billion.

Wasatch Small Cap Growth Strategy made the following comment about Fox Factory Holding Corp. (NASDAQ:FOXF) in its Q4 2022 investor letter:

“We made relatively minor portfolio transactions during the fourth quarter. As for purchases, we added Fox Factory Holding Corp. (NASDAQ:FOXF)—which is a producer of high-performance shock absorbers and suspension components for mountain bikes, motorcycles, snowmobiles and other vehicles.”

Fox, bike

marc-sendra-martorell-YACP3Ldw57M-unsplash

Fox Factory Holding Corp. (NASDAQ:FOXF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held Fox Factory Holding Corp. (NASDAQ:FOXF) at the end of the fourth quarter which was 18 in the previous quarter.

We discussed Fox Factory Holding Corp. (NASDAQ:FOXF) in another article and shared Polen Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

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