Published on 21 May 2024 on Insider Monkey via Yahoo Finance

Multiple Headwinds Dragged Fox Factory Holding Corp. (FOXF) in Q1

Conestoga Capital Advisors, an asset management company, released its “Small Cap Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. Conestoga Small Cap Composite returned 3.69% in the first quarter compared to 7.58% for the Russell 2000 Growth Index. The market continued to rise in the first quarter as many major asset classes delivered positive returns. Lack of holdings in Super Micro Computer Inc. (SMCI) and MicroStrategy Inc. (MSTR), the largest names in the benchmark, was the major reason for the underperformance of the portfolio relative to the index. In addition, stock selection in the technology sector, especially within the software industry proved challenging. Please check the top 5 holdings of the fund for a better understanding of their best picks for 2024.

Conestoga Capital Advisors Small Cap Strategy highlighted stocks like Fox Factory Holding Corp. (NASDAQ:FOXF), in the first quarter 2024 investor letter. Fox Factory Holding Corp. (NASDAQ:FOXF), with a market capitalization of $1.92 billion, designs, engineers, manufactures, and markets performance-defining products and systems. One-month return of Fox Factory Holding Corp. (NASDAQ:FOXF) was 13.53%, and its shares lost 51.68% of their value over the last 52 weeks. On May 20, 2024, Fox Factory Holding Corp. (NASDAQ:FOXF) stock closed at $46.14 per share.