Harvest Capital Strategies Advances on GDOT's 40% Rally
Harvest Capital Strategies Advances on GDOT's 40% Rally
Green Dot Corp (GDOT) returned more than 40% over the past day. It outperformed the market and its corresponding sector, Financials, which returned 0.21%. For those with a high-conviction position, it presented a unique source of alpha.
Says Steve Streit, CEO of Green Dot, "We are so very proud to serve Walmart and the many millions of Americans who rely on Walmart for low prices on the products and services they want and need." The announcement removed meaningful uncertainty from GDOT's prospects and vaulted it forward more than 40%, which was great news for Craig Johnson, Chairman of Harvest and co-owner of the Golden State Warriors.
Some 30 in the Symmetric Hedge Fund Universe have a position in GDOT. While many have only a minor interest in GDOT, 1 have a high conviction position – a position that is greater than 5% of the publicly disclosed portfolio.
Harvest Capital Strategies Llc holds a high conviction position in GDOT and, unlike the majority of holders in GDOT was disproportionately impacted by the move. Their publicly disclosed long portfolio returned 2.69 over the 1 day period. The table below shows the top 3 positive and negative contributors to Harvest Capital Strategies Llc's performance.
Top 3 Positive Contributors
Ticker Size (% book) 1D Stock Move 1D Abs Ret. Attr. GDOT 5.4%% 39%% 2.1%% SUNE 8.2%% 3.9%% 0.32%% MEET 1.3%% 5.9%% 0.08%%
Top 3 Negative Contributors
Ticker Size (% book) 1D Stock Move 1D Abs Ret. Attr. COUP 0.7%% -4.1%% -0.03%% XCRA 2.3%% -1.5%% -0.03%% TSEM 4.5%% -1.2%% -0.05%%
Harvest Capital Strategies Llc has held a position in GDOT for 10 quarters. The average position size was 5.24% of its publicly disclosed portfolio, and over that period, the stock has returned 74.9%. Use Symmetric to surface managers with unique sources of alpha and flag those that may be in trouble.
Companies discussed in this alert: Green Dot Corp (GDOT); Sunedison Inc (SUNE); MeetMe Inc (MEET); Coupons.com Incorporated (COUP); Xcerra Corporation (XCRA); Tower Semiconductor Ltd. (TSEM)
