Published on 3 Apr 2024 on Insider Monkey via Yahoo Finance
Will The Honest Company (HNST) Continue to Experience Years Of Growth And Increasing Returns?
Meridian Funds, managed by ArrowMark Partners, released its “Meridian Contrarian Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Optimism started to prevail, during the last months of the year, and investors reacted positively to news of a potential change in direction by the US Federal Reserve, as well as indications that the US economy is heading for a soft landing. In the fourth quarter, the fund returned 8.80% (net) compared to a 13.3% return for the Russell 2500 Index. Furthermore, the fund underperformed its secondary benchmark, the Russell 2500 Value Index, which returned 13.76% during the same period. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Meridian Contrarian Fund featured stocks like The Honest Company, Inc. (NASDAQ:HNST) in the Q4 2023 investor letter. Headquartered in Los Angeles, California, The Honest Company, Inc. (NASDAQ:HNST) manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. On April 2, 2024, The Honest Company, Inc. (NASDAQ:HNST) stock closed at $3.76 per share. One-month return of The Honest Company, Inc. (NASDAQ:HNST) was 19.37%, and its shares gained 97.89% of their value over the last 52 weeks. The Honest Company, Inc. (NASDAQ:HNST) has a market capitalization of $360.558 million.
Meridian Contrarian Fund stated the following regarding The Honest Company, Inc. (NASDAQ:HNST) in its fourth quarter 2023 investor letter: