The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards New Senior Investment Group Inc (NYSE:SNR).
New Senior Investment Group Inc (NYSE:SNR) was in 17 hedge funds’ portfolios at the end of September. SNR has experienced an increase in support from the world’s most successful money managers of late. There were 15 hedge funds in our database with SNR positions at the end of the previous quarter. 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 Patrick Industries, Inc. (NASDAQ:PATK), Fortress Transprtn and Infr Investrs LLC (NYSE:FTAI), and P.H. Glatfelter Company (NYSE:GLT) to gather more data points.
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
How have hedgies been trading New Senior Investment Group Inc (NYSE:SNR)?
At Q3’s end, a total of 17 of the hedge funds tracked by Insider Monkey were bullish on this stock, a 13% rise from the previous quarter. Below, you can check out the change in hedge fund sentiment towards SNR over the last 5 quarters, which has remained within a fairly narrow range. So, let’s check out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to Insider Monkey’s hedge fund database, John A. Levin’s Levin Capital Strategies has the most valuable position in New Senior Investment Group Inc (NYSE:SNR), worth close to $35.9 million. The second most bullish fund manager is Leon Cooperman of Omega Advisors, holding a $35.4 million position; the fund has 1.1% of its 13F portfolio invested in the stock. Remaining peers that hold long positions encompass Ari Zweiman’s 683 Capital Partners, Renaissance Technologies, one of the largest hedge funds in the world, and Israel Englander’s Millennium Management. We should note that 683 Capital Partners is among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.