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Hedge Funds Are Betting On Amedisys Inc (AMED)

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Investing in small cap stocks has historically been a way to outperform the market, as small cap companies typically grow faster on average than the blue chips. That outperformance comes with a price, however, as there are occasional periods of higher volatility. The time period between June 25 and the end of October was one of those periods, as the Russell 2000 ETF (IWM) has underperformed the larger S&P 500 ETF (SPY) by more than 14 percentage points. Given that the funds we track tend to have a disproportionate amount of their portfolios in smaller cap stocks, they have seen some volatility in their portfolios too. Actually their moves are potentially one of the factors that contributed to this volatility. In this article, we use our extensive database of hedge fund holdings to find out what the smart money thinks of Amedisys Inc (NASDAQ:AMED).

Amedisys Inc (NASDAQ:AMED) investors should pay attention to an increase in enthusiasm from smart money recently. Amedisys Inc (NASDAQ:AMED) was in 24 hedge funds’ portfolios at the end of the third quarter of 2015. There were 19 hedge funds in our database with Amedisys Inc (NASDAQ:AMED) holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article, we will examine companies such as Alon USA Energy, Inc. (NYSE:ALJ), World Wrestling Entertainment, Inc. (NYSE:WWE), and EP Energy Corp (NYSE:EPE) to gather more data points.

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At the moment, there are a multitude of gauges stock traders put to use to evaluate publicly traded companies. A duo of the less known gauges are hedge fund and insider trading signals. Our experts have shown that, historically, those who follow the top picks of the best investment managers can outpace their index-focused peers by a healthy amount (see the details here).

Now, let’s go over the new action surrounding Amedisys Inc (NASDAQ:AMED).

What does the smart money think about Amedisys Inc (NASDAQ:AMED)?

At the end of September, a total of 24 of the hedge funds tracked by Insider Monkey were bullish on this stock, an increase of 26% from the previous quarter. With hedge funds’ capital changing hands, there exists a select group of key hedge fund managers who were upping their holdings substantially (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Conan Laughlin’s North Tide Capital has the number one position in Amedisys Inc (NASDAQ:AMED), worth close to $151.9 million, corresponding to 13.2% of its total 13F portfolio. Coming in second is D E Shaw, with a $19.3 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Other hedge funds and institutional investors that are bullish consist of Israel Englander’s Millennium Management, John Overdeck and David Siegel’s Two Sigma Advisors, and Renaissance Technologies.

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