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 fund investors endured a torrid quarter, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As a result, the relevancy of these public filings and their content is indisputable, as they may reveal numerous high-potential stocks. The following article will discuss the smart money sentiment towards Papa Murphy’s Holdings Inc (NASDAQ:FRSH).
Papa Murphy’s Holdings Inc (NASDAQ:FRSH) was in 8 hedge funds’ portfolios at the end of the third quarter of 2015. FRSH shareholders have witnessed a decrease in hedge fund sentiment recently. There were 10 hedge funds in our database with FRSH holdings at the end of the previous quarter. At the end of this article we will also compare FRSH to other stocks, including Millennial Media, Inc. (NYSE:MM), Organovo Holdings Inc (NYSEMKT:ONVO), and Titan Machinery Inc. (NASDAQ:TITN) to get a better sense of its popularity.
At the moment there are a lot of formulas market participants can use to grade publicly traded companies. Some of the most underrated formulas are hedge fund and insider trading activity. We have shown that, historically, those who follow the top picks of the elite fund managers can beat the S&P 500 by a very impressive amount (see the details here).
With all of this in mind, we’re going to go over the recent action surrounding Papa Murphy’s Holdings Inc (NASDAQ:FRSH).
How have hedgies been trading Papa Murphy’s Holdings Inc (NASDAQ:FRSH)?
At the end of the third quarter, a total of 8 of the hedge funds tracked by Insider Monkey were long this stock, a change of -20% from the previous quarter. With hedgies’ sentiment swirling, there exists an “upper tier” of key hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Joel Ramin’s 12 West Capital Management has the largest position in Papa Murphy’s Holdings Inc (NASDAQ:FRSH), worth close to $7.3 million, amounting to 1.1% of its total 13F portfolio. Sitting at the No. 2 spot is Charles Clough’s Clough Capital Partners, with an $4.4 million position; 0.2% of its 13F portfolio is allocated to the stock. Some other peers with similar optimism include Jim Simons’ Renaissance Technologies, Mark Broach’s Manatuck Hill Partners and Matthew Hulsizer’s PEAK6 Capital Management.