Should You Harvest Floor & Decor Holdings (FND) Holdings Now?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Concentrated Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.72% (net), compared to a -3.37% return for the Russell 3000 Growth Index. The energy sector remained relatively strong in the quarter while Real Estate and Consumer Staples especially detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Floor & Decor Holdings, Inc. (NYSE:FND) in the Q3 2022 investor letter. Headquartered in Atlanta, Georgia, Floor & Decor Holdings, Inc. (NYSE:FND) is a commercial retailer and flooring distributor. On December 26, 2022, Floor & Decor Holdings, Inc. (NYSE:FND) stock closed at $71.47 per share. One-month return of Floor & Decor Holdings, Inc. (NYSE:FND) was -3.58% and its shares lost 45.01% of their value over the last 52 weeks. Floor & Decor Holdings, Inc. (NYSE:FND) has a market capitalization of $7.584 billion.

TimesSquare Capital made the following comment about Floor & Decor Holdings, Inc. (NYSE:FND) in its Q3 2022 investor letter:

“Floor & Decor Holdings, Inc. (NYSE:FND) operates as a multi-channel retailers and commercial flooring distributor. Second quarter results included a modest earnings beat, however, forward guidance was lowered in recognition of macroeconomic pressures and a slowdown in the housing market. As borrowing rates continued to shoot higher, we felt it appropriate to liquidate the position and book the 33% gain.”

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Floor & Decor Holdings, Inc. (NYSE:FND) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Floor & Decor Holdings, Inc. (NYSE:FND) at the end of the third quarter, which was 29 in the previous quarter.

We discussed Floor & Decor Holdings, Inc. (NYSE:FND) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 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.