Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Alibaba Group Holding Ltd (BABA) & Chemours Co (CC) Among Stocks that Just Hit 52-Week Highs

Page 1 of 2

While the S&P 500 and Dow Jones have each retraced due to traders positioning for the upcoming FOMC meeting, some big name stocks have shown strong relative strength and have recently hit 52 week highs.

In this article, we take a closer look at five of them, Alibaba Group Holding Ltd (NYSE:BABA), Chemours Co (NYSE:CC), Cirrus Logic, Inc. (NASDAQ:CRUS), Las Vegas Sands Corp. (NYSE:LVS), and MGM Resorts International (NYSE:MGM) and we use the latest 13F data to see how hedge funds were positioned in each in the second quarter.

Through extensive research, we determined that imitating some of the picks of hedge funds and other institutional investors can help generate market-beating returns over the long run. The key is to focus on the small-cap picks of these investors, since they are usually less followed by the broader market and are less price-efficient. Our backtests that covered the period between 1999 and 2012, showed that following the 15 most popular small-caps among hedge funds can help a retail investor beat the market by an average of 95 basis points per month (see the details here).

Alibaba Group Holding Ltd (NYSE:BABA), sign on a building, logo, share, stock, New York, offering

Christopher Penler / Shutterstock.com

Alibaba Group Holding Ltd (NYSE:BABA) shares advanced by over 5% in the week ended September 16, beating many of its large-cap peers in terms of performance and even outpacing the S&P 500, which inched up by around 0.5%. Although China’s economy is still sluggish, Alibaba’s growth has come back, with the company reporting a 59% year-over-year sales growth for its second quarter. Analysts think there is more upside. They have a $108.57 per share price target, and that number will likely move higher if Alibaba shares continue to outperform. Andreas Halvorsen‘s Viking Global nearly tripled its stake in Alibaba Group Holding Ltd (NYSE:BABA) to over 4.0 million shares at the end of June.

Follow Alibaba Group Holding Limited (NYSE:BABA)
Trade (NYSE:BABA) Now!

Chemours Co (NYSE:CC) continued its yearly advance this week, rising 13.7% to hit a 52-week high of $14.60 per share on Friday. Year-to-date, the stock has been one of the best performers on any index, surging by 174%. Driving gains recently is the company’s announcement that its management has achieved cost reductions of around $100 million in the first half of 2016. There is more efficiency to come, as management anticipates $200 million in cost reductions in 2016 and an additional $150 million in 2017. Overall, the management believes the company is well underway to enhance adjusted EBITDA by $500 million, to improve free cash flow and to reduce leverage to 3x in 2017. The number of funds from our database with holdings in Chemours Co (NYSE:CC) fell by two quarter-over-quarter to 28 at the end of June.

Follow Chemours Co
Trade (CC) Now!

On the next page, we examine Cirrus Logic, Las Vegas Sands Corp, and MGM Resorts International.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!