With the final Presidential debate now over, it’s officially the final lap for Presidential candidates Hillary Clinton and Donald Trump as the November 8 election approaches.
Among the equities trending on Thursday are Organovo Holdings Inc (NASDAQ:ONVO), eBay Inc (NASDAQ:EBAY), Mattel, Inc. (NASDAQ:MAT), Alphabet Inc (NASDAQ:GOOG), and CBS Corporation (NYSE:CBS). Let’s examine why each stock is in the spotlight and use the latest SEC data to analyze relevant hedge fund sentiment towards 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).
Organovo Holdings Inc (NASDAQ:ONVO) shares are down sharply after it filed a preliminary prospectus supplement that said the company is executing a public offering of stock. The terms of the offering were not released in the preliminary report, though it was revealed that Evercore and Jefferies will be the book-running managers for the deal. Richard Driehaus‘ Driehaus Capital established a new stake of 57,152 shares in Organovo Holdings Inc (NASDAQ:ONVO) during the second quarter .
eBay Inc (NASDAQ:EBAY) is off by more than 7% in extended-market trading after the e-commerce giant reported earnings of $0.45 per share on revenue of $2.22 billion for its third quarter, beating the Street’s estimates by $0.01 on the bottom-line and $30 million on the top-line. Sales rose by 5.7% year-over-year as gross merchandise volume rose by 3% on an as-reported basis and by 5% on an FX-neutral basis. The company also added over one million active buyers across its platforms, bringing its total to 165 million global active buyers. Although its third quarter numbers were solid, traders could be selling eBay due to guidance. For the fourth quarter, the company expects EPS of $0.52-to-$0.54, versus estimates of $0.54, while revenue is expected to be between $2.36 billion and $2.41 billion, compared to the Street’s expectation of $2.40 billion. Of the 749 hedge funds that we track which filed 13Fs for the June quarter, 58 owned $1.73 billion in eBay Inc (NASDAQ:EBAY) holdings on June 30, which accounted for 6.40% of the float.
On the next page we’ll find out why Mattel, Alphabet, and CBS are trending.