Laughing Water Capital recently released its Q4 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 28.2% for the quarter (net of fees), outperforming their benchmark, the S&P 500 Index which returned 12.2% in the same quarter. You should check out Laughing Water Capital’s top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.
In the Q4 2020 Investor Letter, Laughing Water Capital highlighted a few stocks and Par Technology Corp (NYSE:PAR) is one of them. Par Technology Corp (NYSE:PAR) is a provider of systems and service solutions for the hospitality industry. In the last three months, Par Technology Corp (NYSE:PAR) stock gained 90.9% and on January 25th it had a closing price of $72.99. Here is what Laughing Water Capital said:
“PAR Technology (PAR) – PAR, our restaurant point of sale (POS) software business, had a wild ride in 2020, first declining more than 60% as people feared that restaurants were doomed, only to rise more than 400% from the lows as people realized that in order to survive, restaurants need to be technology enabled. Despite the runup in price and a valuation that admittedly does not scream cheap, there is still a lot to like here as the competitive position is dominant, the path to continue to grow installs and ARPU is clear, and the strong balance sheet is in the hands of a proven capital allocator.”
Laughing Water Capital has been a long time Par Technology Corp (NYSE:PAR) bull. In August 2020, we shared Laughing Water Capital’s bullish PAR’s thesis in this article.
In Q3 2020, the number of bullish hedge fund positions on Par Technology Corp (NYSE:PAR) stock increased by about 20% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in PAR’s growth potential. Our calculations showed that Par Technology Corp (NYSE:PAR) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
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Disclosure: None. This article is originally published at Insider Monkey.