Voss Capital, LLC an investment management company, released its second-quarter 2024 investor letter. A copy of the letter can be downloaded here. Voss Capital’s funds, Voss Value Fund, LP, and the Voss Value Offshore Fund, Ltd returned -6.8% and -7.0% to investors net of fees and expenses respectively, in the quarter compared to a -3.3% return for the Russell 2000 Index, -3.6% return for the Russell 2000 Value Index, and 4.3% return for the S&P 500 Index. The Voss Value Master Fund’s total gross exposure stood at 166.7% and the net long exposure was 91.3% at the end of the second quarter. The weight of the fund’s top 10 longs was 72.7% and the top 10 shorts was -29.4%. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Voss Capital highlighted stocks like United Parks & Resorts Inc. (NYSE:PRKS), in the second quarter 2024 investor letter. United Parks & Resorts Inc. (NYSE:PRKS) is a theme park and entertainment company based in United States. The one-month return of United Parks & Resorts Inc. (NYSE:PRKS) was 10.18%, and its shares gained 8.62% of their value over the last 52 weeks. On September 6, 2024, United Parks & Resorts Inc. (NYSE:PRKS) stock closed at $52.06 per share with a market capitalization of $3.017 billion.
Voss Capital stated the following regarding United Parks & Resorts Inc. (NYSE:PRKS) in its Q2 2024 investor letter:
“New core long: United Parks & Resorts Inc. (NYSE:PRKS): Travel & leisure stocks remain deeply out of favor and, outside of cruise operators, remain well below their pre-covid valuation levels. Headlines such as the WSJ’s recent article titled “Americans Are Skipping Theme Parks This Summer” offer a glimpse of the current lousy sentiment. We think the misleading headlines along with dour vibes surrounding the US consumer are offering up an opportunity in United Parks & Resorts (PRKS), f/k/a SeaWorld, which contrary to headlines had positive year-over-year attendance growth in Q2. As veterans of concentrated small cap equity investing, we feel like we know a good roller coaster when we see one.
The origin of this storied company starts with Adolfus Busch (of Anheuser-Busch fame) and his desire to develop beautiful gardens across the country. For decades these parks, adjacent to his breweries, were used as a marketing tool to build the Anheuser-Busch brand. Over the years, animals and rides were added to the attractions. Busch Gardens Tampa Bay (opened in 1959) and Busch Gardens Williamsburg (opened in 1975) still operate and are among PRKS largest venues. In 1989, Busch Entertainment acquired the theme park division of Harcourt Brace Jovanovich and with it, SeaWorld…” (Click here to read the full text)
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United Parks & Resorts Inc. (NYSE:PRKS) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held United Parks & Resorts Inc. (NYSE:PRKS) at the end of the second quarter which was 32 in the previous quarter. United Parks & Resorts Inc. (NYSE:PRKS) generated $497.6 billion in revenues, an increase of $1.6 million over Q2 2023. While we acknowledge the potential of United Parks & Resorts Inc. (NYSE:PRKS) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In addition, please check out our hedge fund investor letters Q2 2024 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.