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Is Qiagen NV (QGEN) Going to Burn These Hedge Funds?

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At Insider Monkey we track the activity of some of the best-performing hedge funds like Appaloosa Management, Baupost, and Third Point because we determined that some of the stocks that they are collectively bullish on can help us generate returns above the broader indices. Out of thousands of stocks that hedge funds invest in, small-caps can provide the best returns over the long term due to the fact that these companies are less efficiently priced and are usually under the radars of mass-media, analysts and dumb money. This is why we follow the smart money moves in the small-cap space.

Qiagen NV (NASDAQ:QGEN)’s stock has advanced by 11% since the beginning of the year, but trading at 58 times earnings, the stock is rather expensive. During the third quarter, the number of funds bullish on the stock dropped by six. However, 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 Kilroy Realty Corp (NYSE:KRC), Waste Connections, Inc. (NYSE:WCN), and Brookfield Infrastructure Partners L.P. (NYSE:BIP) to gather more data points.

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If you’d ask most market participants, hedge funds are viewed as underperforming, outdated financial tools of years past. While there are over 8000 funds with their doors open today, Our researchers look at the masters of this club, approximately 700 funds. Most estimates calculate that this group of people command the lion’s share of all hedge funds’ total capital, and by tracking their finest investments, Insider Monkey has unsheathed various investment strategies that have historically outstripped the market. Insider Monkey’s small-cap hedge fund strategy outpaced the S&P 500 index by 12 percentage points annually for a decade in their back tests.

Keeping this in mind, we’re going to take a look at the recent action regarding Qiagen NV (NASDAQ:QGEN).

How are hedge funds trading Qiagen NV (NASDAQ:QGEN)?

At the end of the third quarter, a total of 14 of the hedge funds tracked by Insider Monkey held long positions in this stock, a decline of 30% from the second quarter. With the smart money’s capital changing hands, there exists a few notable hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Kerr Neilson’s Platinum Asset Management has the most valuable position in Qiagen NV (NASDAQ:QGEN), worth close to $32.6 million, amounting to 0.9% of its total 13F portfolio. The second largest stake is held by Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, which holds an $21.6 million position; 0.1% of its 13F portfolio is allocated to the stock. Some other professional money managers that are bullish consist of Paul Sinclair’s Blue Jay Capital Management, Dmitry Balyasny’s Balyasny Asset Management, and Scott Scher & Michael Prober’s Clovis Capital Management.

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