The S&P 500 futures are slightly in the green today as traders anticipate a ‘Bremain’ outcome for tomorrow’s pivotal vote on whether Britain will leave or stay in the EU.
Among the stocks trending today are SiteOne Landscape Supply Inc (NYSE:SITE), Formula Systems (1985) Ltd. (ADR) (NASDAQ:FORTY), BlackBerry Ltd (NASDAQ:BBRY), Energy Transfer Equity LP (NYSE:ETE), and Williams Companies Inc (NYSE:WMB). Let’s take a closer look at the latest developments surrounding these stocks and use data from the last round of 13F filings to see what smart money investors think about these stocks.
While there are many metrics that investors can assess in the investment process, the hedge fund sentiment is something that is often overlooked. However, hedge funds and other institutional investors allocate significant resources while making their bets and their long-term focus makes them the perfect investors to emulate. This is supported by our research, which determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor to beat the S&P 500 by around 95 basis points per month (see the details here).
SiteOne Landscape Reports Earnings
SiteOne Landscape Supply Inc (NYSE:SITE) reported a loss of $0.85 per share for its fiscal first quarter, on revenue of $328.5 million. Organic net sales rose by 23% on the year, while net loss decreased to $5.6 million from $9.8 million reported a year earlier. The company also completed the acquisition of Hydro-Scape Products which included 17 locations. For the full fiscal year, SiteOne expects adjusted EBITDA to be in the range of $132 to $140 million. Since the company went public in May, none of the investors in our database reported holding shares in their 13F filings for the end of the first quarter.
Formula Systems Turns In First Quarter Results
Formula Systems (1985) Ltd. (ADR) (NASDAQ:FORTY) reported first quarter earnings of $0.27 per share on revenue of $262.17 million, versus $237.1 million and $0.44 per share it had posted for the same period last year. Net income was negatively affected by increased tax expenses and the appreciation of Formula’s debentures due to exchange rate fluctuations. Shares of the company are up 25% year-to-date so far. None of the funds tracked by Insider Monkey had shares of Formula Systems (1985) Ltd. (ADR) (NASDAQ:FORTY) in their portfolios, according to the last round of 13F filings.
On the next page, we examine Blackberry, Energy Transfer Equity LP, and Williams Companies Inc.