Is Qiwi (QIWI) a Smart Long-term Buy?

Horos Asset Management recently released its Q3 2020 Investor Letter, a copy of which you can download here. Horos Value Internacional has not been immune to this dichotomy of performance, posting a -4.7% return in the quarter, compared to 3.6% of benchmark index. On the other hand, Horos Value Iberia returned -0.8%, outperforming the -6.3% of its benchmark index. You should check out Horos Asset Management’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q3 2020 Investor Letter, Horos Asset Management highlighted a few stocks and Qiwi Plc (NASDAQ:QIWI) is one of them. Qiwi Plc (NASDAQ:QIWI) is a Russian payment service provider. Year-to-date, Qiwi Plc (NASDAQ:QIWI) stock lost 46.9% and on December 30th it had a closing price of $10.29. Here is what Horos Asset Management said:

“We trimmed our exposure to Qiwi after outperforming the other holdings that make up Horos Value Internacional. The Russian digital financial services company benefited during the period from the announcement of the sale of its consumer financing project, Sovest. As we have pointed out in the past, it was clear that the new initiatives launched by the company in recent years were having a negative impact on the investor community’s perception of Qiwi, as the real cash flow generation capacity of the payments business was being concealed and these projects were not delivering immediate results. In the end, Qiwi has been reorganizing, selling or liquidating these lines of business, uncovering its strong cash generation capacity and regaining some of the investors’ lost confidence.”

In Q3 2020, the number of bullish hedge fund positions on Qiwi Plc (NASDAQ:QIWI) stock increased by about 29% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in Qiwi’s growth potential. Our calculations showed that Qiwi Plc (NASDAQ:QIWI) 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.