Hedge Funds and other institutional investors have just completed filing their 13Fs with the Securities and Exchange Commission, revealing their equity portfolios as of the end of September. At Insider Monkey, we follow over 700 of the best-performing investors and by analyzing their 13F filings, we can determine the stocks that they are collectively bullish on. One of their picks is POZEN Inc. (NASDAQ:POZN), so let’s take a closer look at the sentiment that surrounds it in the current quarter.
POZEN Inc. (NASDAQ:POZN) investors should be aware of an increase in hedge fund interest recently. At the end of this article, we will also compare POZEN Inc. (NASDAQ:POZN) to other stocks, including TransGlobe Energy Corporation (USA) (NASDAQ:TGA), Primo Water Corporation (NASDAQ:PRMW), and Inotek Pharmaceuticals Corp (NASDAQ:ITEK) to get a better sense of its popularity.
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In the financial world, there are tons of gauges shareholders use to assess stocks. A couple of the less utilized gauges are hedge fund and insider trading sentiment. Our experts have shown that, historically, those who follow the top picks of the elite money managers can outpace the broader indices by a superb margin (see the details here).
With all of this in mind, let’s go over the fresh action regarding POZEN Inc. (NASDAQ:POZN).
How have hedgies been trading POZEN Inc. (NASDAQ:POZN)?
At the end of the third quarter, a total of 18 of the hedge funds tracked by Insider Monkey were long this stock, an increase of 20% from one quarter earlier. With hedgies’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were upping their holdings meaningfully (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Paul Reeder and Edward Shapiro’s PAR Capital Management has the most valuable position in POZEN Inc. (NASDAQ:POZN), worth close to $22.5 million, comprising 0.5% of its total 13F portfolio. On PAR Capital Management’s heels is Jane Mendillo of Harvard Management Co, with a $7.1 million position; the fund has 0.6% of its 13F portfolio invested in the stock. Other professional money managers with similar optimism consist of Renaissance Technologies, Jesse Ro’s Tiger Legatus Capital, and Craig A. Drill’s Craig Drill Capital.
Consequently, key money managers were leading the bulls’ herd. Craig Drill Capital made a $3 million investment in the stock during the quarter. The other funds with new positions in the stock are Paul Marshall and Ian Wace’s Marshall Wace LLP, Hal Mintz’s Sabby Capital, and Glenn Russell Dubin’s Highbridge Capital Management.
Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as POZEN Inc. (NASDAQ:POZN) but similarly valued. We will take a look at TransGlobe Energy Corporation (USA) (NASDAQ:TGA), Primo Water Corporation (NASDAQ:PRMW), Inotek Pharmaceuticals Corp (NASDAQ:ITEK), and Lawson Products, Inc. (NASDAQ:LAWS). This group of stocks’ market caps is closest to POZEN Inc. (NASDAQ:POZN)’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| TGA | 5 | 2789 | -2 |
| PRMW | 10 | 43233 | 3 |
| ITEK | 12 | 29796 | 9 |
| LAWS | 6 | 9418 | 1 |
As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $21 million. That figure was $55 million in POZEN Inc. (NASDAQ:POZN)’s case. Inotek Pharmaceuticals Corp (NASDAQ:ITEK) is the most popular stock in this table. On the other hand, TransGlobe Energy Corporation (USA) (NASDAQ:TGA) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks, POZEN Inc. (NASDAQ:POZN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.
