With all three major indexes up on Monday and the S&P 500 close to an all-time record, it’s not surprising that five stocks, Amazon.com, Inc. (NASDAQ:AMZN), Aon plc Class A Ordinary Shares (UK) (NYSE:AON), GrubHub Inc (NYSE:GRUB), Momo Inc (ADR) (NASDAQ:MOMO), and Tata Motors Limited (ADR) (NYSE:TTM), each hit 52 week highs on Monday.
In this article, we take a closer look at the five stocks and use data from the latest 13F filings to determine what hedge funds from our database think about these stocks.
At Insider Monkey, we track around 750 hedge funds and institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on, can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see the details here).
FAA Decision Powers Amazon
Traders bid up Amazon.com, Inc. (NASDAQ:AMZN) to an all-time high of $774.98 shortly after new FAA regulations that opened the U.S. skies for commercial drones went into effect. Given Amazon.com, Inc. (NASDAQ:AMZN)’s ambition of delivering products faster and cheaper, many investors believe the new regulations will lead to Amazon drone deliveries sooner rather than later. Seeing as consumers typically purchase more (all else equal) when the delivery time is shorter, Amazon’s already healthy revenue growth could increase further due to those rules. Andreas Halvorsen’s Viking Global took some profits in the second quarter, trimming its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 5% to 3.28 million shares.
Aon Hits 52-Week High
Shares of Aon plc Class A Ordinary Shares (UK) (NYSE:AON), a leading provider of insurance brokerage and reinsurance brokerage, risk management, and human resources solutions and outsourcing services, hit a 52 week high on Monday largely due to broader market strength and optimism over the U.S. economy. Given the strong job market in the U.S., corporations are increasingly turning to human resources and outsourcing services to meet their labor needs. Seeing as the U.S. economy is strong, demand for insurance brokerage services is also robust. A total of 31 funds from our database had a bullish position in Aon plc Class A Ordinary Shares (UK) (NYSE:AON) at the end of June, compared to 30 funds a quarter earlier.
On the next page, we take a closer look at GrubHub Inc, Momo Inc (ADR), and Tata Motors Limited (ADR).