The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge funds have been producing disappointing net returns in recent years, however that was partly due to the poor performance of small-cap stocks in general. Well, small-cap stocks finally turned the corner and have been beating the large-cap stocks by more than 10 percentage points over the last 5 months.This means the relevancy of hedge funds’ public filings became inarguable, as they may reveal numerous high-potential stocks. The following article will discuss the smart money sentiment towards Cardiovascular Systems Inc (NASDAQ:CSII) .
Is Cardiovascular Systems Inc (NASDAQ:CSII) a splendid investment now? Hedge funds are taking an optimistic view. The number of bullish hedge fund positions that are disclosed in regulatory 13F filings grew by 4 in recent months. At the end of this article we will also compare CSII to other stocks including Encore Capital Group, Inc. (NASDAQ:ECPG), Corcept Therapeutics Incorporated (NASDAQ:CORT), and Unitil Corporation (NYSE:UTL) to get a better sense of its popularity.
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 Cardiovascular Systems Inc (NASDAQ:CSII)?
Heading into the fourth quarter of 2016, a total of 15 of the hedge funds tracked by Insider Monkey were bullish on this stock, a 36% increase from one quarter earlier, as hedge fund ownership rebounds to hit a yearly high. Below, you can check out the change in hedge fund sentiment towards CSII over the last 5 quarters. So, let’s review which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Camber Capital Management, led by Stephen DuBois, holds the biggest position in Cardiovascular Systems Inc (NASDAQ:CSII). Camber Capital Management has a $71.2 million position in the stock, comprising 3.1% of its 13F portfolio. The second largest stake is held by David E. Shaw of D E Shaw, with a $23.2 million position. Other members of the smart money that hold long positions consist of Christopher James’ Partner Fund Management, Israel Englander’s Millennium Management, and Kevin Kotler’s Broadfin Capital. We should note that none of these hedge funds are 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.