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

1. Cerner Corporation (NASDAQ:CERN)

Magnetar Capital’s Stake Value: $186,241,000
Percentage of Magnetar Capital’s 13F Portfolio: 1.98%
Number of Hedge Fund Holders: 64

Cerner Corporation (NASDAQ:CERN) provides health information technology services, systems, and hardware in the United States. Oracle Corporation (NYSE:ORCL) and Cerner Corporation (NASDAQ:CERN) announced an all-cash tender offer on December 20 for Oracle to purchase Cerner Corporation (NASDAQ:CERN) for $95.00 per share, or around $28.3 billion in equity value.

Magnetar Capital started its position in Cerner Corporation (NASDAQ:CERN) with shares worth $2.27 million in the fourth quarter of 2010. At the end of Q1 2022, the hedge fund held stakes worth roughly $186.24 million in the company, which represented 1.98% of its portfolio. Millennium Management, with approximately 5.53 million shares worth $517.05 million, is the largest shareholder of Cerner Corporation (NASDAQ:CERN) as of Q1.

On June 14, Jefferies analyst Brent Thill increased his price target on Oracle Corporation (NYSE:ORCL) from $75 to $80 while keeping his Hold rating.

As of Q1 2022, the hedge funds tracked by Insider Monkey remained bullish on Cerner Corporation (NASDAQ:CERN), as the company was a part of 64 portfolios, up from 61 a quarter earlier. These hedge funds held consolidated value of stakes stood at $4.17 billion.

You can also take a peek at Top 10 Stock Picks of Andrew Wiener’s Samjo Capital and Top 10 Stock Picks of Frank Fu’s CaaS Capital