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Connecture Inc (CNXR), Goodrich Petroleum Corporation (GDP), Digirad Corporation (DRAD) Jumped Last Week: Do Hedge Funds Like Them?

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Our recent stock market analysis has picked up some micro-cap stocks that have had an outstanding performance last week. The shares of Connecture Inc (NASDAQ:CNXR), Goodrich Petroleum Corporation (NYSE:GDP), Digirad Corporation (NASDAQ:DRAD) skyrocketed during the week June 26, 2015. Connecture Inc reported an 18.95% increase in its share prices during the week. A decision from the Supreme Court allowing the government to offer medical subsidies through the Affordable Care Act or “Obamacare” gave a boost to several stocks in the healthcare industry. This has been an excellent year for the company as its shares have climbed 24.86% year-to-date. Connecture Inc (NASDAQ:CNXR) has received a positive outlook from the hedge funds we track at Insider Monkey. The healthcare platform has received investments from 10 hedge fund managers worth $85.49 million, which is higher than the previous quarter’s net investment of $79.58 million. Jeffrey Jay & David Kroin’s Great Point Partners are among the major investors of Connecture Inc with 5.50 million shares valued at $56.96 million. These are no recent insider transactions conducted for the shares of Connecture Inc (NASDAQ:CNXR).


Why are we interested in the 13F filings of a select group of hedge funds? We use these filings to determine the top 15 small-cap stocks held by these elite funds based on 16 years of research that showed their top small-cap picks are much more profitable than both their large-cap stocks and the broader market as a whole. These small-cap stocks beat the S&P 500 Total Return Index by an average of nearly one percentage point per month in our backtests, which were conducted over the period of 1999 to 2012. Moreover, since the beginning of forward testing from August 2012, the strategy worked just as our research predicted, outperforming the market every year and returning 144% over the last 32 months, which is more than 84 percentage points higher than the returns of the S&P 500 ETF (SPY) (see more details).

Goodrich Petroleum Corporation (NYSE:GDP) is another stock that witnessed an improvement in its share prices. One of the major reasons for the boost in share prices is an operational and planning announcement made by the oil and natural gas firm. Goodrich Petroleum announced on June 22, 2015 that it has initiated completion operations for two wells that are on the verge of completing fracture stimulation and are likely to begin initial productions in the next one or two weeks. Goodrich Petroleum currently has six drilled but uncompleted wells and it is expecting to complete the remaining four drills between mid-July and early-September.

This is positive news for Goodrich Petroleum Corporation (NYSE:GDP) whose shares have declined 59.74% year-to-date. Another sign indicating a potential turn around near future is the fact that Josiah T. Austin, Director at Goodrich Petroleum Corporation, and Michael J. Perdue, Independent Director at Goodrich Petroleum Corporation, have made insider purchases of 160,912 and 75,000 shares, respectively. Insiders are known to have a better understanding of the company and chances of making profits on its shares. However, the hedge fund sentiment is bearish, as the net invested amount in Goodrich Petroleum Corporation (NYSE:GDP) by nine hedge fund managers has declined to $10.55 million from the previous quarter investments of $18.82 million made by 15 hedge fund investors.

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