Should You Sell Gaia (GAIA)?
Artko Capital, an investment management company, recently released its fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, an average partnership interest in the fund increased by 6.9% net of fees. However, investments in comparable indexes like Russell 2000, Russell Microcap, and the S&P 500 were up 14.0%, 16.1%, and 11.7% in the fourth quarter. For the full year, the fund was up 1.6% net of fees while comparable market indexes were up 16.9%, 9.3%, and 26.3% respectively. For more information on the fund’s top picks in 2023, please check its top five holdings.
Artko Capital featured stocks like Gaia, Inc. (NASDAQ:GAIA) in its Q4 2023 investor letter. Headquartered in Louisville, Colorado, Gaia, Inc. (NASDAQ:GAIA) is a digital video subscription service operator. On March 4, 2024, Gaia, Inc. (NASDAQ:GAIA) stock closed at $2.98 per share. One-month return of Gaia, Inc. (NASDAQ:GAIA) was 1.02%, and its shares lost 8.59% of their value over the last 52 weeks. Gaia, Inc. (NASDAQ:GAIA) has a market capitalization of $74.703 million.
Artko Capital stated the following regarding Gaia, Inc. (NASDAQ:GAIA) in its fourth quarter 2023 investor letter:
"As discussed in our 2Q23 Partner Letter, we sold the remainder of our original 8-year-old position in Gaia, Inc. (NASDAQ:GAIA). While we still made substantial returns in our initial investment, with multiple position reduction sales above $10.00, in recent years, the position has been a significant detractor from performance. The expected fundamentals did not materialize, and key management departures led us to deploy the capital into other positions."
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Gaia, Inc. (NASDAQ:GAIA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Gaia, Inc. (NASDAQ:GAIA) was held by 5 hedge fund portfolios, same as 5 in the previous quarter, according to our database.
We discussed Gaia, Inc. (NASDAQ:GAIA) in another article and shared the list of movie studio and news media stocks. In addition, please check out our hedge fund investor letters Q4 2023 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.
