Should You Hold Crocs (CROX)?

Choice Equities Capital Management, a hedge fund manager, released its fourth-quarter investor letter recently. You can view it here. In the fourth quarter, the fund returned +6.5% on a net basis compared to a +6.2% gain for the Russell 2000 Index and a +7.6% gain for the S&P 500 Index. In 2022 the fund returned -31.6% compared to -20.5% and -18.1% annual losses for the indexes, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Choice Equities Capital Management highlighted stocks like Crocs, Inc. (NASDAQ:CROX) in the Q4 2022 investor letter. Headquartered in Broomfield, Colorado, Crocs, Inc. (NASDAQ:CROX) engages in the footwear and accessories business. On April 4, 2023, Crocs, Inc. (NASDAQ:CROX) stock closed at $127.02 per share. One-month return of Crocs, Inc. (NASDAQ:CROX) was 2.60%, and its shares gained 81.07% of their value over the last 52 weeks. Crocs, Inc. (NASDAQ:CROX) has a market capitalization of $7.844 billion.

Choice Equities Capital Management made the following comment about Crocs, Inc. (NASDAQ:CROX) in its Q4 2022 investor letter:

“Crocs, Inc. (NASDAQ:CROX) – Croc’s Inc. continues to execute well as the brand targets continued international expansion and HeyDude continues to benefit from the increased distribution and marketing efforts of the parent company. I am pleased to share our analysis of this company won the 2023 SumZero Top Stocks competition for its category. This write-up is attached and included as Appendix 2. We will be hosting a virtual presentation on this subject on February 9th on the SumZero platform. You can find more information about this presentation here: SumZero.”

Crocs, Inc. (NASDAQ:CROX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Crocs, Inc. (NASDAQ:CROX) at the end of the fourth quarter which was 31 in the previous quarter.

We discussed Crocs, Inc. (NASDAQ:CROX) in another article and shared ClearBridge Select Strategy’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.

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