Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. Mid-cap stocks experienced a notable improvement in the third quarter after incurring losses in the second quarter. The Russell Midcap Growth Index (up 6.54%) underperformed the Russell Midcap Value Index (up 10.08%) during the quarter. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like Celsius Holdings, Inc. (NASDAQ:CELH), in the third quarter 2024 investor letter. Celsius Holdings, Inc. (NASDAQ:CELH) develops, markets and distributes functional drink and liquid supplements. The one-month return of Celsius Holdings, Inc. (NASDAQ:CELH) was -8.24%, and its shares lost 45.76% of their value over the last 52 weeks. On November 21, 2024, Celsius Holdings, Inc. (NASDAQ:CELH) stock closed at $29.05 per share with a market capitalization of $6.828 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Celsius Holdings, Inc. (NASDAQ:CELH) in its Q3 2024 investor letter:
“Celsius Holdings, Inc. (NASDAQ:CELH) develops, markets, sells and distributes functional fitness and lifestyle beverages. The stock suffered as revenue growth slowed more than expected. A leading soft-drink distributor further reduced its levels of Celsius inventory, which negatively impacted sales. Additionally, there has been a slowdown in traffic across the broader convenience store space.”
A hand pouring a cool can of a carbonated non-alcoholic beverage with a smiley face on it.
Celsius Holdings, Inc. (NASDAQ:CELH) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Celsius Holdings, Inc. (NASDAQ:CELH) at the end of the third quarter which was 27 in the previous quarter. Celsius Holdings, Inc.’s (NASDAQ:CELH) revenue in the third quarter was $265.7 billion, a decrease from the previous year driven by distributor inventory optimization. While we acknowledge the potential of Celsius Holdings, Inc. (NASDAQ:CELH) 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 another article, we discussed Celsius Holdings, Inc. (NASDAQ:CELH) and shared the list of best Reddit stocks with biggest upside potential. In addition, please check out our hedge fund investor letters Q3 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.