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Latest Hedge Fund Moves in Momenta Pharmaceuticals (MNTA), Jumei International Holding (JMEI), and Summit Materials (SUM)

Like Momenta, Jumei International Holding Ltd (ADR) (NYSE:JMEI) has had a massive 2015 thus far, also jumping by more than 60% year-to-date. In the case of Jumei, it has benefited from a positive overall environment for Chinese stocks, with many enjoying healthy gains during April. One of the contributing factors to those gains is the news that the Chinese government may merge some of its state-owned enterprises and institute other measures to ensure its targeted economic growth. Despite the gains Jumei is still down over 9% since its U.S IPO last May after shedding more than 40% of its value in 2014. Apex Capital held one of the only positions in Jumei heading into 2015 among the funds in our database, and a relatively small one at that, of just under 200,000 shares.

Lastly, we come to Barrera’s Roystone Capital Management and its filing regarding Summit Materials Inc (NYSE:SUM), in which it disclosed a new position of 1.65 million shares. This represents a 6.2% passive stake in the construction materials company, which launched its IPO in March. Roystone Capital is the first shareholder among the funds we track. Shares of Summit Materials are already up by more than 15% since its IPO.

Several analysts initiated coverage on Summit Materials Inc (NYSE:SUM) after it went public, including Deutsche Bank, which gave it a ‘Buy’ rating and $30.00 price target, while Goldman Sachs and Bank of America both set a ‘Neutral’ rating with price targets of $26.00 and $25.00 respectively.

Disclosure: None

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