In the Smallvalue Q1 2024 fund letter, Under Armour (UAA, Financial) was highlighted as a significant investment, reflecting the fund's strategic decision to increase its stake following a notable decline in the stock price. This decline was primarily triggered by changes in the company's management, presenting an opportunity for the fund to deploy cash reserves effectively. The fund manager expressed optimism about the potential positive impact of the founder's return on the company's strategic direction, despite the current bearish sentiment in the market.
"I bolstered my investment in Under Armour following a substantial decline prompted by management changes, seizing the opportunity to deploy cash reserves. While I hold an optimistic outlook regarding the implications of the founder's return, I remain mindful of the prevailing bearish market sentiment." — Smallvalue, Q1 2024 Fund Letter
Read full letter at gurufocus Smallvalue 2024 Q1 page.
