Here’s Why Vista Outdoor (VSTO) Rose in Q3
ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Value Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed the benchmark Russell 2000 Value Index in the third quarter. The strategy generated gains across three of the 11 sectors in which it was invested during the quarter, on an absolute basis. Sector allocation effects positively contributed to the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Small Cap Value Strategy highlighted stocks like Vista Outdoor Inc. (NYSE:VSTO) in the third quarter 2023 investor letter. Headquartered in Anoka, Minnesota, Vista Outdoor Inc. (NYSE:VSTO) engages in the design, manufacturing, and marketing of outdoor recreation and shooting sports products. On December 18, 2023, Vista Outdoor Inc. (NYSE:VSTO) stock closed at $29.65 per share. One-month return of Vista Outdoor Inc. (NYSE:VSTO) was 15.01%, and its shares gained 27.69% of their value over the last 52 weeks. Vista Outdoor Inc. (NYSE:VSTO) has a market capitalization of $1.722 billion.
ClearBridge Small Cap Value Strategy made the following comment about Vista Outdoor Inc. (NYSE:VSTO) in its Q3 2023 investor letter:
"In the consumer discretionary sector, Vista Outdoor Inc. (NYSE:VSTO), which makes a wide range of products serving the outdoor sports and recreation markets, topped analysts’ expectations for second-quarter earnings and was further lifted on optimism about the spinoff of its outdoor products business in the fourth quarter."
A group of hikers on a isolated mountain range with a clear sunset in the background.
Vista Outdoor Inc. (NYSE:VSTO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Vista Outdoor Inc. (NYSE:VSTO) at the end of third quarter which was 16 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.
