Maran Capital Management, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. In the second quarter of 2022, Maran Partners Fund returned -15.7%, net of all fees and expenses, bringing our year-to-date performance to -25.3%. Over the past five years, the partnership has compounded at a rate of approximately 14%, net. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, Maran Capital Management mentioned Clarus Corporation (NASDAQ:CLAR) and explained its insights for the company. Founded in 1991, Clarus Corporation (NASDAQ:CLAR) is a Salt Lake City, Utah-based glove and mitten manufacturing company with a $791.2 million market capitalization. Clarus Corporation (NASDAQ:CLAR) delivered a -25.72% return since the beginning of the year, while its 12-month returns are down by 14.94%. The stock closed at $20.90 per share on August 02, 2022.
Here is what Maran Capital Management has to say about Clarus Corporation (NASDAQ:CLAR) in its Q2 2022 investor letter:
“Clarus has continued to perform well and beat expectations. The company will benefit from a number of tailwinds over the next year, primarily related to its recent acquisition of Rhino Rack. These include the lapping of severe flooding and strict Covid lockdowns in Australia, as well as the easing of global supply chain and logistics challenges. The euro has weakened, so the translation of European profits back to USD has caused me to reduce my profit expectations slightly in the near term, but I am still forecasting better results than the market seems to be implying over the coming quarters and years. Smart capital allocation, in this “buy and build” strategy, remains an additional lever for value creation.”
Our calculations show that Clarus Corporation (NASDAQ:CLAR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Clarus Corporation (NASDAQ:CLAR) was in 17 hedge fund portfolios at the end of the second quarter of 2022, compared to 14 funds in the previous quarter. Clarus Corporation (NASDAQ:CLAR) delivered a -6.03% return in the past 3 months.
In May 2021, we also shared another hedge fund’s views on Clarus Corporation (NASDAQ:CLAR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.
Disclosure: None. This article is originally published at Insider Monkey.