Clark Street Value: “CorePoint Lodging (CPLG) didn’t Work Out Very Well”

·2 min read

Clark Street Value, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be seen here. An annual portfolio return of 74.99% was recorded by the fund for the year 2021, versus 28.71% for the S&P 500, and an IRR since the inception of 29.12%. over the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Clark Street Value, in its Q4 2021 investor letter, mentioned CorePoint Lodging Inc. (NYSE: CPLG) and discussed its stance on the firm. CorePoint Lodging Inc. is an Irving, Texas-based real estate investment trust company with a $913.8 million market capitalization. CPLG delivered a -0.13% return since the beginning of the year, while its 12-month returns are up by 129.24%. The stock closed at $15.68 per share on January 13, 2022.

Here is what Clark Street Value has to say about CorePoint Lodging Inc. in its Q4 2021 investor letter:

"CorePoint Lodging (CPLG) didn't work out very well, I made a mistake and missed the IRS payment that had to come off the top as well as that the new buyer would want to rid themselves of the Wyndham (WH) management agreement. I'm sort of glad this will be private again as I've had it wrong now multiple times."


Our calculations show that CorePoint Lodging Inc. (NYSE: CPLG) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. CPLG was in 17 hedge fund portfolios at the end of the third quarter of 2021, compared to 13 funds in the previous quarter. CorePoint Lodging Inc. (NYSE: CPLG) delivered a -0.32% return in the past 3 months.

You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.

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