The global markets are sluggish to end the trading week, as the markets in Asia, Europe, and now the U.S all moved into the red. Several stocks have enjoyed strong runs recently however, pushing to new yearly highs yesterday.
In this article, we’ll check out why Domino’s Pizza Inc. (NYSE:DPZ), Godaddy Inc (NYSE:GDDY), GrubHub Inc (NYSE:GRUB), Koninklijke Philips NV (ADR) (NYSE:PHG), and Mastercard Inc (NYSE:MA) are performing so well and will take a look at how hedge funds have been trading them this year.
We determine hedge fund sentiment by analyzing the equity portfolios of some of the best-performing hedge funds and institutional investors. Through extensive research, we have determined that the due diligence that these investors employ, as well as their long-term focus makes them perfect targets to emulate. However, the results of our analysis have also showed that the small-cap picks of these funds can generate much better returns, with the 15 most popular small-cap stocks beating the market by an average of 95 basis points per month (see more details here).
Domino’s Pizza Inc. (NYSE:DPZ) attained its 52-week high yesterday, touching $154.10 after it announced its integration with Facebook’s Messenger app. The new integration lets users order pizza using the Facebook app by simply opening a new chat with Domino’s Pizza. Users may also click the message button on Domino’s Facebook page. Shares of Domino’s Pizza have gained 26% since June 26. Among the funds we track, 33 funds held $1.24 billion worth of Domino’s Pizza Inc. (NYSE:DPZ)’s stock in aggregate at the end of June, having amassed 18.90% of its outstanding stock.
Godaddy Inc (NYSE:GDDY) did indeed go yesterday, all the way to its 52-week high of $35.54. The company recently simplified its procedures for customers, introducing Domain Connect, which the company claims “will simplify and streamline the process of connecting domain names to different web platforms.” The new setup is likely to drive the company’s revenue higher. Piper Jaffray set a $40 price target on the stock at the beginning of this week and has a ‘Buy’ rating on it. The number of funds in our database long Godaddy Inc (NYSE:GDDY) stood at 23 at the end of June, up from 22 at the end of March. Those 23 funds held 21.40% of the company’s stock.
We’ll check out the latest on three other hot stocks on the next page.