Palm Valley Capital Management, an investment management firm, released the “Palm Valley Capital Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In the fourth quarter, Palm Valley Capital Fund declined -0.09% outperforming the -0.58% decline in the S&P SmallCap 600 and slightly underperforming the 0.32% gain in the Morningstar Small Cap Total Return Index. The Fund faced losses on certain equity positions, but these were partly balanced out by gains from Treasury bill holdings. During the quarter the equity positions in the Fund reduced by 3.6%. Cash equivalents comprised 78% of the fund’s assets at the period’s end. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Palm Valley Capital Fund highlighted stocks like Crawford & Company (NYSE:CRD-A), in the fourth quarter 2024 investor letter. Crawford & Company (NYSE:CRD-A) is a biopharmaceutical company. The one-month return of Crawford & Company (NYSE:CRD-A) was -0.90%, and its shares lost 10.00% of their value over the last 52 weeks. On January 6, 2025, Crawford & Company (NYSE:CRD-A) stock closed at $11.07 per share with a market capitalization of $535.667 million.
Palm Valley Capital Fund stated the following regarding Crawford & Company (NYSE:CRD-A) in its Q4 2024 investor letter:
“We sold out of two positions during the fourth quarter: Crawford & Company (NYSE:CRD-A) and Helen of Troy (ticker: HELE). We snagged a tiny position in former holding and insurance adjuster Crawford when the shares, and results, were down due to a lack of severe weather. As tends to happen, the weather changed, and so did Crawford’s stock price.”
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Crawford & Company (NYSE:CRD-A) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 6 hedge fund portfolios held Crawford & Company (NYSE:CRD-A) at the end of the third quarter which was 7 in the previous quarter. While we acknowledge the potential of Crawford & Company (NYSE:CRD-A) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In addition, please check out our hedge fund investor letters Q3 2024 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.