We can judge whether Fenix Parts Inc (NASDAQ:FENX) is a good investment right now by following the lead of some of the best investors in the world and piggybacking their ideas. There’s no better way to get these firms’ immense resources and analytical capabilities working for us than to follow their lead into their best ideas. While not all of these picks will be winners, research shows that these picks historically outperformed the market when we factor in known risk factors.
Is Fenix Parts Inc (NASDAQ:FENX) a marvelous investment today? Money managers are turning less bullish. The number of bullish hedge fund bets shrunk by 2 lately. The shares of Fenix Parts Inc were down 13.89% during the third quarter, pointing towards a possible reason for the loss in popularity. For an in-depth understanding of the hedge fund sentiment, we will cover the hedge funds holding positions in the stock during the third 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 Planar Systems, Inc. (NASDAQ:PLNR), JMP Group Inc. (NYSE:JMP), and Energy Fuels Inc Ordinary Shares (Canada) (NYSEMKT:UUUU) to gather more data points.
If you’d ask most investors, hedge funds are perceived as slow, outdated investment vehicles of years past. While there are greater than an 8000 funds with their doors open at the moment, Our experts choose to focus on the aristocrats of this group, about 700 funds. These hedge fund managers preside over most of all hedge funds’ total capital, and by keeping an eye on their first-class equity investments, Insider Monkey has figured out a number of investment strategies that have historically outpaced the broader indices. Insider Monkey’s small-cap hedge fund strategy outperformed the S&P 500 index by 12 percentage points a year for a decade in their back tests.
With all of this in mind, we’re going to take a glance at the fresh action encompassing Fenix Parts Inc (NASDAQ:FENX).
What have hedge funds been doing with Fenix Parts Inc (NASDAQ:FENX)?
Heading into Q4, a total of 7 of the hedge funds tracked by Insider Monkey held long positions in this stock, a decline of 22% from the second quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were increasing their stakes considerably (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Malcolm Fairbairn’s Ascend Capital has the biggest position in Fenix Parts Inc (NASDAQ:FENX), worth close to $13.2 million, comprising 0.5% of its total 13F portfolio. The second most bullish fund manager is Chuck Royce of Royce & Associates, with a $7.4 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Some other hedge funds and institutional investors with similar optimism comprise Ken Griffin’s Citadel Investment Group, Peter S. Park’s Park West Asset Management, and Anand Parekh’s Alyeska Investment Group.