Baron Funds, an investment management company, released its “Baron Partners Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The third quarter witnessed extreme volatility in the financial market. However, the fund outperformed the benchmark indexes and rose 10.00% (Institutional Shares) in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Funds discussed stocks like Hyatt Hotels Corporation (NYSE:H) in the Q3 2022 investor letter. Headquartered in Chicago, Illinois, Hyatt Hotels Corporation (NYSE:H) is a hospitality company. On November 1, 2022, Hyatt Hotels Corporation (NYSE:H) stock closed at $93.91 per share. One-month return of Hyatt Hotels Corporation (NYSE:H) was 9.52% and its shares gained 10.83% of their value over the last 52 weeks. Hyatt Hotels Corporation (NYSE:H) has a market capitalization of $10.249 billion.
Baron Funds made the following comment about Hyatt Hotels Corporation (NYSE:H) in its Q3 2022 investor letter:
“Shares of global hotelier Hyatt Hotels Corporation (NYSE:H) increased in the quarter on strong revenue-per-available-room results as business travel continued to recover from pandemic lows. While leisure rates dropped a little in the seasonally slower back-to-school period, this decline was expected and was more than offset by increases in business transient and group bookings. Robust rates across the industry are leading to higher margins, including for Hyatt. Hyatt is using the increased cash flow to buy-in its shares, indicating that it sees value in the stock.”
Hyatt Hotels Corporation (NYSE:H) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held Hyatt Hotels Corporation (NYSE:H) at the end of the second quarter which was 42 in the previous quarter.
We discussed Hyatt Hotels Corporation (NYSE:H) in another article and shared the list of best hotel stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- Top Life Insurance Companies in the World
- 15 Countries That Produce the Most Alcohol
- 10 Best November Dividend Stocks
Disclosure: None. This article is originally published at Insider Monkey.