Hedge Funds Have Bought DaVita HealthCare Partners Inc (DVA), Equinix Inc (EQIX), and More

Steadfast Capital Management, managed by Robert Pitts and his team, reported a position of over 19 million shares in Chinese chatting platform company YY Inc (ADR) (NASDAQ:YY), giving it over 10% ownership. Find Steadfast’s favorite stocks. Revenue more than doubled in the first quarter of 2013 versus a year earlier, and net income increased strongly as well. The stock carries trailing and forward earnings multiples of 47 and 31, respectively, so markets are already expecting high growth in the business. Even with its impressive numbers, then, we would avoid YY Inc (ADR) (NASDAQ:YY) at least for now.

Mohnish Pabrai’s Dalal Street has more than doubled its holdings in HORSEHEAD HOLDING CORP. (NASDAQ:ZINC) since the end of March, to 4.6 million shares or about 10% of the company (research more stocks Pabrai likes). As might be divined from its ticker symbol, HORSEHEAD HOLDING CORP. (NASDAQ:ZINC) is a miner of zinc and producer of zinc oxide. The stock’s beta is 2.0, as zinc prices partially depend on macro activity. Recent reports have shown fairly low earnings numbers compared to the valuation, though Wall Street analysts expect the company to rebound and as a result the forward P/E is only 13.

Our database of filings has Kenneth Garschina’s Mason Capital Management disclosing ownership of about 14 million shares- 5.3%- of Health Management Associates Inc (NYSE:HMA). Health Management Associates Inc (NYSE:HMA) is a $4 billion market cap hospital company primarily operating in the southern half of the United States. Recent reports show a small decline in revenue, with earnings falling as well. The sell-side is looking for financials to improve here as well, and as a result the stock trades at 15 times forward earnings estimates, though given the company’s struggles we might prefer to look at other hospitals.

Disclosure: I own no shares of any stocks mentioned in this article.