Top 5 Stock Picks of Cinctive Capital Management

In this article, we discuss the top 5 stock picks of Cinctive Capital Management. If you want to check out a detailed analysis of the fund’s investment philosophy and current portfolio allocation strategies, go directly to Top 10 Stock Picks of Cinctive Capital Management.

5. General Motors Company (NYSE:GM)

Cinctive Capital Management’s Stake Value: $26,479,000
Percentage of Cinctive Capital Management’s 13F Portfolio: 0.98%
Number of Hedge Fund Holders: 76

General Motors Company (NYSE:GM) is an automobile manufacturer. It has been attempting to increase the number of electric vehicles it offers over the past couple of years. Volcon, Inc. (NASDAQ:VLCN) declared on August 12 that it would use General Motors Company (NYSE:GM)’s proven and tested electric propulsion systems in all of its off-road utility terrain vehicles. Volcon, Inc. (NASDAQ:VLCN) is the first all-electric off-road power sports firm.

Among the hedge funds being tracked by Insider Monkey, Ric Dillon’s Diamond Hill Capital is a significant shareholder of General Motors Company (NYSE:GM), with a $358.63 million stake in the company. At the end of the first quarter, 76 hedge funds were bullish on General Motors Company (NYSE:GM), compared to 90 in the previous quarter.

On July 27, Wedbush analyst Daniel Ives maintained an ‘Outperform’ rating while lowering his price objective on General Motors Company (NYSE:GM) from $50 to $42. The analyst said that a number of supply chain issues contributed to General Motors’ inconsistent Q2 results and hindered the Detroit-based giant’s performance, which he believed to be a short-term roadblock.

Though Cinctive Capital Management reduced its stake in General Motors Company (NYSE:GM) by 2% during the first quarter, the company remained the fund’s fifth-largest holding. Rich Schimel and Lawrence Sapanski’s Cinctive Capital Management owned 605,363 shares of General Motors Company (NYSE:GM) in Q1 2022, worth about $26.48 million.

In its first-quarter 2022 investor letter, Diamond Hill Capital mentioned General Motors Company (NYSE:GM). Here is what the fund said:

“General Motors—and the auto industry in general—continues to face headwinds related to supply chain disruptions and raw material cost inflation. In addition, uncertainty surrounding global energy markets due to inflation and the conflict in Ukraine has created a greater economic burden on consumers, which tends to slow automotive sales.”