Yahoo Finance MusclePharm Acquisition Helped FitLife Brands (FTLF)
Alluvial Capital Management, an investment advisory firm, released its first-quarter 2024 investor letter. A copy of the same can be downloaded here. Alluvial Fund rose 6.3% in Q1, outperforming comparable indexes which were up between 4.3% and 5.2%. The overall increase was comprehensive, as multiple assets in the portfolio made significant contributions. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Alluvial Capital Management featured stocks like FitLife Brands, Inc. (NASDAQ:FTLF) in the first quarter 2024 investor letter. Headquartered in Omaha, Nebraska, FitLife Brands, Inc. (NASDAQ:FTLF) is a nutritional supplements provider. On May 3, 2024, FitLife Brands, Inc. (NASDAQ:FTLF) stock closed at $27.95 per share. One-month return of FitLife Brands, Inc. (NASDAQ:FTLF) was 0.65%, and its shares gained 62.03% of their value over the last 52 weeks. FitLife Brands, Inc. (NASDAQ:FTLF) has a market capitalization of $128.521 million.
Alluvial Capital Management stated the following regarding FitLife Brands, Inc. (NASDAQ:FTLF) in its first quarter 2024 investor letter:
"FitLife Brands, Inc. (NASDAQ:FTLF) has been a good contributor to our results this year. CEO Dayton Judd provided commentary on the MusclePharm acquisition on the company’s inaugural earnings call. Essentially, the acquisition will be worthwhile, financially speaking, if the current levels of MusclePharm product sales are merely maintained, but it will be a tremendous success if the company can reintroduce previous best-selling products. To that end, the company is bringing back the MusclePharm Combat Sport Bar, which sold 25 million units annually at its peak. It will take time to restore any meaningful portion of MusclePharm’s former glories, but this looks like a good start to me."
Copyright: restyler / 123RF Stock Photo
FitLife Brands, Inc. (NASDAQ:FTLF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 2 hedge fund portfolios held FitLife Brands, Inc. (NASDAQ:FTLF) at the end of the fourth quarter which was 1 in the previous quarter.
We previously discussed FitLife Brands, Inc. (NASDAQ:FTLF) in another article, where we shared River Oak Capital's views on the company. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
