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Here’s Why Five Below (FIVE) Appreciated in Q4

Soumya Eswaran
·2 min read

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was - 14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Five Below, Inc. (NASDAQ:FIVE) in the fourth quarter 2023 investor letter. Headquartered in Philadelphia, Pennsylvania, Five Below, Inc. (NASDAQ:FIVE) is a specialty value retailer. On March 27, 2024, Five Below, Inc. (NASDAQ:FIVE) stock closed at $183.86 per share. One-month return of Five Below, Inc. (NASDAQ:FIVE) was -7.77%, and its shares lost 8.56% of their value over the last 52 weeks. Five Below, Inc. (NASDAQ:FIVE) has a market capitalization of $10.156 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Five Below, Inc. (NASDAQ:FIVE) in its fourth quarter 2023 investor letter:

"In Consumer-oriented sectors, we lean towards value-oriented or specialty retailers, franchise models, as well as premium brands. Five Below, Inc. (NASDAQ:FIVE) is a discount retailer focused on teens and pre-teens with most goods priced less than $5. Their product offering includes gloves, scarves, fragrances, cosmetics, and novelty items. The latest quarter was strong, with revenues and same-store sales comparisons ahead of sell-side projections. Growth came from Five Beyond (goods over $5) that are now in half of their stores. Forward guidance was slightly better than the consensus. Shares of Five Below were lifted 32% on this report."

A family happily shopping for everyday items in a specialty retail store.

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Five Below, Inc. (NASDAQ:FIVE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Five Below, Inc. (NASDAQ:FIVE) was held by 33 hedge fund portfolios, compared to 30 in the previous quarter, according to our database.

We discussed Five Below, Inc. (NASDAQ:FIVE) in another article and shared ClearBridge SMID Cap Growth Strategy's views on the company. In addition, please check out our hedge fund investor letters Q4 2023 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.