Was The Smart Money Right About Wright Medical Group N.V. (WMGI)?
Was The Smart Money Right About Wright Medical Group N.V. (WMGI)?
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. In this article, we will take a closer look at hedge fund sentiment towards Wright Medical Group N.V. (NASDAQ:WMGI).
2月底，我們宣佈了自2009年以來的第一次美國經濟衰退的到來，我們預測市場在2009年將至少下跌20%(經濟衰退迫在眉睫：我們現在需要旅行禁令)。在這些動盪的市場中，我們仔細審查對衝基金的備案文件，以瞭解每隻股票可能的走勢。在本文中，我們將進一步瞭解對衝基金對萊特醫療集團(Wright Medical Group N.V.)的看法。納斯達克：WMGI).
IsWright Medical Group N.V. (NASDAQ:WMGI)the right pick for your portfolio? Hedge funds were turning bullish. The number of long hedge fund positions improved by 1 lately. Wright Medical Group N.V. (NASDAQ:WMGI) was in 38 hedge funds' portfolios at the end of the second quarter of 2020. The all time high for this statistics is 46. Our calculations also showed that WMGI isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). There were 37 hedge funds in our database with WMGI holdings at the end of March.Video: Watch our video about the top 5 most popular hedge fund stocks.
是萊特醫療集團(Wright Medical Group N.V.)(納斯達克代碼：WMGI)對你的投資組合來説是正確的選擇？對衝基金正變得看漲。對衝基金多頭頭寸的數量最近增加了1個。截至2020年第二季度末，萊特醫療集團(納斯達克：WMGI)在38只對衝基金的投資組合中佔有一席之地。這一統計數據的歷史最高值為46。我們的計算還顯示，WMGI不在對衝基金最受歡迎的30只股票之列(點擊查看第二季度排名，查看視頻快速查看排名前5的股票)。截至3月底，我們的數據庫中有37家對衝基金持有wmgi。視頻：觀看我們關於最受歡迎的5只對衝基金股票的視頻。
Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 56 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that'll significantly underperform the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 34% through August 17th. That's why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.
對衝基金作為精明投資者的聲譽在過去十年裏受到了損害，因為它們的對衝回報趕不上市場指數的非對衝回報。我們的研究提前確定了一組精選的對衝基金，自2017年3月以來，這些基金的表現比標準普爾500指數ETF高出56個百分點以上(請參見此處的詳細信息)。我們還能夠提前確定一組精選的對衝基金持股，這些基金的表現將顯著遜於市場。自2017年2月以來，我們一直在跟蹤和分享這些股票的名單，截至8月17日，它們下跌了34%。這就是為什麼我們認為對衝基金情緒是投資者應該關注的一個極其有用的指標。
Alex Litowitz of Magnetar Capital
Magnetar Capital的亞歷克斯·利托維茨
At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like thisemerging lithium stock. We go through lists like the 10most profitable companiesin the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website to get excerpts of these letters in your inbox. Now let's view the fresh hedge fund action regarding Wright Medical Group N.V. (NASDAQ:WMGI).How have hedgies been trading Wright Medical Group N.V. (NASDAQ:WMGI)?
在Insider Monkey，我們搜索多個來源，以發現下一個偉大的投資想法。例如，鋰礦開採是一目前增長最快的行業之一，所以我們正在查看這樣的股票推介新興鋰庫存。我們看了一下清單，比如10最賺錢的公司在世界上挑選最好的大盤股來購買。儘管我們只推薦了我們分析的公司中的一小部分，但我們會盡可能多地查看股票。我們閲讀對衝基金投資者的信件，並在對衝基金會議上聽取股票推介。您可以在我們的網站上訂閲我們的免費每日時事通訊，以便在您的收件箱中獲得這些信件的摘錄。現在讓我們來看看對衝基金對萊特醫療集團(Wright Medical Group N.V.)的最新行動。對衝基金一直在如何交易萊特醫療集團(Wright Medical Group N.V.)(納斯達克：WMGI)？
Heading into the third quarter of 2020, a total of 38 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 3% from the first quarter of 2020. The graph below displays the number of hedge funds with bullish position in WMGI over the last 20 quarters. With the smart money's sentiment swirling, there exists an "upper tier" of notable hedge fund managers who were upping their stakes considerably (or already accumulated large positions).
進入2020年第三季度，在Insider Monkey追蹤的對衝基金中，共有38家看好這隻股票，較2020年第一季度增長了3%。下圖顯示了過去20個季度看漲wmgi的對衝基金數量。隨着聰明人情緒的波動，存在着一羣著名的對衝基金經理，他們正在大幅增持(或已經積累了大量頭寸)。
The largest stake in Wright Medical Group N.V. (NASDAQ:WMGI) was held by Carlson Capital, which reported holding $134.7 million worth of stock at the end of June. It was followed by Magnetar Capital with a $134.4 million position. Other investors bullish on the company included Water Island Capital, Omni Partners, and Melqart Asset Management. In terms of the portfolio weights assigned to each position Havens Advisors allocated the biggest weight to Wright Medical Group N.V. (NASDAQ:WMGI), around 14.42% of its 13F portfolio. Omni Partners is also relatively very bullish on the stock, earmarking 8.86 percent of its 13F equity portfolio to WMGI.
萊特醫療集團(納斯達克代碼：WMGI)的最大股份由卡爾森資本持有，據報道，截至6月底，卡爾森資本持有價值1.347億美元的股票。緊隨其後的是Magnetar Capital，持有1.344億美元的頭寸。其他看好該公司的投資者包括Water Island Capital、Omni Partners和Melqart Asset Management。就每個頭寸的投資組合權重而言，Havens Advisors對萊特醫療集團(納斯達克：WMGI)的權重最大，約佔其13F投資組合的14.42%。Omni Partners也相對非常看好該股，將其13F股票投資組合中的8.86%專門用於wmgi。
Now, key money managers were leading the bulls' herd. Pentwater Capital Management, managed by Matthew Halbower, established the most valuable position in Wright Medical Group N.V. (NASDAQ:WMGI). Pentwater Capital Management had $11.2 million invested in the company at the end of the quarter. Richard Driehaus's Driehaus Capital also made a $7.9 million investment in the stock during the quarter. The following funds were also among the new WMGI investors: Donald Sussman's Paloma Partners, Adam Guren's Hunting Hill Global Capital, and Michael Hintze's CQS Cayman LP.
現在，關鍵的基金經理引領着多頭牛羣。由馬修·哈爾鮑爾管理的彭特沃特資本管理公司確立了萊特醫療集團(納斯達克代碼：WMGI)最有價值的地位。截至季度末，彭特沃特資本管理公司向該公司投資了1,120萬美元。理查德·德里豪斯的Driehaus Capital在本季度也對該股進行了790萬美元的投資。以下基金也在wmgi的新投資者之列：Donald Sussman的Paloma Partners、Adam Guren的Hunting Hill Global Capital和Michael Hintze的CQS Cayman LP。
Let's check out hedge fund activity in other stocks - not necessarily in the same industry as Wright Medical Group N.V. (NASDAQ:WMGI) but similarly valued. These stocks are Lattice Semiconductor Corporation (NASDAQ:LSCC), Armstrong World Industries, Inc. (NYSE:AWI), Western Alliance Bancorporation (NYSE:WAL), GW Pharmaceuticals plc (NASDAQ:GWPH), National Fuel Gas Company (NYSE:NFG), Hutchison China MediTech Limited (NASDAQ:HCM), and Southwest Gas Holdings, Inc. (NYSE:SWX). All of these stocks' market caps are closest to WMGI's market cap.
讓我們看看其他股票中的對衝基金活動-不一定與萊特醫療集團(Wright Medical Group N.V.)在同一行業，但估值相似。這些股票是晶格半導體公司(納斯達克：LSCC)，阿姆斯特朗世界工業公司(紐約證券交易所：AWI), 西部聯盟銀行(紐約證券交易所代碼：WAL)，GW製藥公司納斯達克(GWPH：GWPH)、國家燃氣公司(紐約證券交易所：NFG), 和記黃埔中國醫療科技納斯達克(Sequoia Capital：HCM)和西南燃氣控股有限公司(Southwest Gas Holdings，Inc.)(紐約證券交易所：SWX)。所有這些股票的市值都最接近WMGI的市值。
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position LSCC,19,162880,-7 AWI,34,372376,14 WAL,24,139929,-3 GWPH,18,350605,-3 NFG,22,174710,4 HCM,7,34538,1 SWX,13,83518,0 Average,19.6,188365,0.9 [/table]
[表格]股票代碼，帶位置的高頻數量，高頻位置的總值(X1000)，高頻位置變化LSCC，19,162880，-7 AWI，34,372376，14 Wal，24,139929，-3 GWPH，18,350605，-3 NFG，22,174710，4 HCM，7,34538，1 SWX，13,83518，0平均值，19.6,188365，0.9[/表]
View table here if you experience formatting issues.
如果您遇到格式問題，請在此處查看錶格。
As you can see these stocks had an average of 19.6 hedge funds with bullish positions and the average amount invested in these stocks was $188 million. That figure was $800 million in WMGI's case. Armstrong World Industries, Inc. (NYSE:AWI) is the most popular stock in this table. On the other hand Hutchison China MediTech Limited (NASDAQ:HCM) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Wright Medical Group N.V. (NASDAQ:WMGI) is more popular among hedge funds. Our overall hedge fund sentiment score for WMGI is 80.8. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that top 10 most popular stocks among hedge funds returned 41.4% in 2019 and outperformed the S&P 500 ETF (SPY) by 10.1 percentage points. These stocks gained 23% in 2020 through October 30th and still beat the market by 20.1 percentage points. Unfortunately WMGI wasn't nearly as popular as these 10 stocks and hedge funds that were betting on WMGI were disappointed as the stock returned 2.9% since the end of the second quarter (through 10/30) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 10 most popular stocks among hedge funds as most of these stocks already outperformed the market in 2020.
如你所見，這些股票平均有19.6只持有看漲頭寸的對衝基金，平均投資於這些股票的金額為1.88億美元。在WMGI的案例中，這一數字是8億美元。阿姆斯特朗世界工業公司(紐約證券交易所代碼：AWI)是該表中最受歡迎的股票。另一方面，和記中國醫療科技有限公司(納斯達克：HCM)是最不受歡迎的，只有7個看漲對衝基金頭寸。與這些股票相比，萊特醫療集團(Wright Medical Group N.V.)在對衝基金中更受歡迎。我們對WMGI的整體對衝基金情緒得分為80.8。相對於其他股票，對衝基金持倉數量較多的股票，以及相對於其歷史區間的股票，獲得更高的情緒得分。我們的計算顯示，對衝基金中最受歡迎的10只股票在2019年的回報率為41.4%，表現優於標準普爾500指數ETF(標普500ETF)10.1個百分點。截至10月30日，這些股票在2020年上漲了23%，但仍比大盤高出20.1個百分點。不幸的是，WMGI遠沒有這10只股票那麼受歡迎，押注於WMGI的對衝基金感到失望，因為自第二季度末(截至10月30日)以來，該股回報率為2.9%，表現遜於大盤。如果你有興趣投資具有巨大上漲潛力的大盤股，你應該看看對衝基金中最受歡迎的10只股票，因為這些股票中的大多數在2020年已經跑贏了大盤。
Get real-time email alerts: Follow Wright Medical Group Inc (Old) (NASDAQ:WMGI)
獲取實時電子郵件警報：關注萊特醫療集團(Wright Medical Group Inc.)(老)(納斯達克代碼：WMGI)
Disclosure: None. This article was originally published at Insider Monkey.
披露：沒有。本文最初發表在《內幕猴子》雜誌上。
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