Top 5 Stock Picks of Alec Litowitz and Ross Laser’s Magnetar Capital

In this article, we discuss the top 5 stock picks of Alec Litowitz and Ross Laser’s Magnetar Capital. If you want to read our detailed analysis of Litowitz and Laser’s history, investment philosophy, and hedge fund performance, go directly to the Top 10 Stock Picks of Alec Litowitz and Ross Laser’s Magnetar Capital.

5. Change Healthcare Inc. (NASDAQ:CHNG)

Magnetar Capital’s Stake Value: $163,082,000
Percentage of Magnetar Capital’s 13F Portfolio 1.74%
Number of Hedge Fund Holders: 50

By the end of the first quarter, Insider Monkey found Change Healthcare Inc. (NASDAQ:CHNG) to be a part of 50 hedge fund portfolios. The total stakes these funds had in the company are worth $1.81 billion, up from $1.60 billion in the prior quarter with 48 positions.

Change Healthcare Inc. (NASDAQ:CHNG) is working on a healthcare technology platform that provides data and analytics-driven solutions. David Abrams’ Abrams Capital Management is the most significant stakeholder of Change Healthcare Inc. (NASDAQ:CHNG) as of the first quarter of this year, holding 16.98 million shares worth almost $370.13 million.

Citi analyst Daniel Grosslight boosted his price objective on Change Healthcare Inc. (NASDAQ:CHNG) to $27.75 from $25.75 on June 6 and retained his Buy rating on the stock. According to the analyst, the company’s Q4 earnings were better than expected.

Magnetar Capital owns more than 7.48 million shares in Change Healthcare Inc. (NASDAQ:CHNG), worth over $163.08 million, representing close to 1.74% of their portfolio. The hedge fund has trimmed its stake in the firm by 12% in the first quarter.