Were Hedge Funds Right About Proto Labs Inc (PRLB)?
We know that hedge funds generate strong, risk-adjusted returns over the long run, therefore imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, smart money investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do (like Melvin Capital’s recent GameStop losses). However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, as the current round of 13F filings has just ended, let’s examine the smart money sentiment towards Proto Labs Inc (NYSE:PRLB).
Were Hedge Funds Right About NGM Biopharmaceuticals, Inc. (NGM)?
In this article we will analyze whether NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) is a good investment right now by following the lead of some of the best investors in the world and piggybacking their ideas. There’s no better way to get these firms’ immense resources and analytical capabilities working for us than to follow their lead into their best ideas. While not all of these picks will be winners, our research shows that these picks historically outperformed the market by double digits annually.
Is
NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) a superb investment today? The smart money was taking an optimistic view. The number of bullish hedge fund bets rose by 5 in recent months. NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) was in 18 hedge funds’ portfolios at the end of the first quarter of 2021. The all time high for this statistic was previously 13. This means the bullish number of hedge fund positions in th
Were Hedge Funds Right About Dumping Redfin Corporation (RDFN)?
With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the second quarter of 2021. One of these stocks was Redfin Corporation (NASDAQ:RDFN).
Is
Redfin Corporation (NASDAQ:RDFN) the right pick for your portfolio? Prominent investors were in a bearish mood. The number of bullish hedge fund bets fell by 3 recently. Redfin Corporation (NASDAQ:RDFN) was in 18 hedge funds’ portfolios at the end of the first quarter of 2021. The all time high for this statistic is 28. Our calculations also showed that RDFN isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings).
Were Hedge Funds Right About Royal Bank of Canada (RY)?
Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips or bumps on the charts usually don’t make them change their opinion towards a company. This time it may be different. The coronavirus pandemic destroyed the high correlations among major industries and asset classes. We are now in a stock pickers market where fundamentals of a stock have more effect on the price than the overall direction of the market. As a result we observe sudden and large changes in hedge fund positions depending on the news flow. Let’s take a look at the hedge fund sentiment towards Royal Bank of Canada (NYSE:RY) to find out whether there were any major changes in hedge funds’ views.
Were Hedge Funds Right About Rogers Communications Inc. (RCI)?
The 800+ hedge funds and famous money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the first quarter, which unveil their equity positions as of March 31st. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund portfolios. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Rogers Communications Inc. (NYSE:RCI).
Rogers Communications Inc. (NYSE:RCI) was in 18 hedge funds’ portfolios at the end of the first quarter of 2021. The all time high for this statistic is 23. RCI shareholders have witnessed an increase in enthusiasm from smart money of late. There were 15 hedge funds in our database with RCI holdings at the end of December. Our calculations also showed that RCI isn’t among the 30 most popular stocks among hedge funds (click