Does Hedge Fund Sentiment Come in Line with Analyst Upgrades on These Stocks?

 Let us now take a look at NVIDIA Corp (NASDAQ:NVDA), whose stock was upgraded by Jefferies Group to ‘Buy’ from ‘Hold’, with a price target of $30, up from the previous $23. NVIDIA Corp (NASDAQ:NVDA), a visual computing company that connects people through computer graphics, saw its shares rallying 20.1% in the past year and it registered its 52-week high of $23.95 on August 10. However, the number of NVIDIA’s shareholders, among the funds from our database, dropped to 30 in the second quarter from 34 at the end of March. At the end of June, the aggregate value of these funds’ positions amounted to $422.12 million, equivalent to 3.90% of NVIDIA Corp (NASDAQ:NVDA)’s outstanding stock. AQR Capital Management tops the list with 4.02 million shares valued at $80.88 million, although the investor trimmed its holding by 21%, followed by Brian Ashford-Russel and Tim Woolley’s Polar Capital with 3 million shares valued at $3.46 million.

Finally, Hanesbrands Inc. (NYSE:HBI), a consumer goods firm with a portfolio of apparel brands, was upgraded by Goldman Sachs to ‘Buy’ from ‘Neutral’, while the price target was raised to $40 from $32. Hanesbrands Inc. (NYSE:HBI)’s stock gained 2.12% in today’s trading session. The company last issued its financial results for the quarter ended June 30, reporting earnings per share of $0.50, which was in line with estimates. From the list of hedge funds that we track, the number of funds bullish on Hanesbrands Inc. (NYSE:HBI) remained flat during the quarter at 34, but the total value of their positions went up to $1.27 billion, representing 9.50% of the company from $956.68 million a quarter earlier. Among these investors, Stephen Mandel‘s Lone Pine Capital held the largest stake that contained 7.59 million shares at the end of June, followed by John Shapiro’s Chieftain Capital and Alexander Michell’s Scopus Asset Management, which disclosed ownership of 6.98 million shares and 3.77 million shares, respectively.

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