Markets inched higher on Wednesday as investors await the UK’s fateful decision to stay in or leave the EU.
Some stocks are in the spotlight today, including Gol Linhas Aereas Inteligentes SA (ADR) (NYSE:GOL), Winnebago Industries, Inc. (NYSE:WGO), Pluristem Therapeutics Inc. (NASDAQ:PSTI), IMAX Corporation (USA) (NYSE:IMAX) and AMC Entertainment Holdings Inc (NYSE:AMC). Let’s find out why these stocks are worth watching today and analyze hedge funds sentiment towards each of these companies.
We believe that imitating hedge funds and other large institutional investors can be helpful in identifying stocks capable of outperforming the broader market. Through extensive research that covered portfolios of several hundred large investors between 1999 and 2012, we determined that following the small-cap stocks that large money managers are collectively bullish on, can generate monthly returns nearly 1.0 percentage points above the market (see more details here).
Gol Linhas Aereas Inteligentes Amends Offer to Exchange Notes
Investors are watching Gol Linhas Aereas Inteligentes SA (ADR) (NYSE:GOL) after the company announced on Monday the extension and amendment of its previously announced private offer to exchange any and all of its senior unsecured notes. In a statement, the Brazilian air transportation company said that the amendment of the terms of its voluntary exchange offers and decision to remove the minimum participation condition was taken after discussions with a “significant number” of its noteholders. Only four funds tracked by Insider Monkey had stakes in Gol Linhas Aereas Inteligentes SA (ADR) (NYSE:GOL) at the end of the first quarter. Andy Redleaf’s Whitebox Advisors owns 546,290 shares of the company.
Winnebago Industries Beats Estimates
Winnebago Industries, Inc. (NYSE:WGO)’s stock jumped after the bell, but has slightly retreated and is currently around 3.5% in the green after the company posted better-than-expected fiscal third quarter earnings. The Iowa based recreational vehicle maker reported EPS of $0.53, topping the estimates of $0.45. Revenue in the quarter came in at $272.1 million, above the consensus estimate of $270.46 million. In a statement, Winnebago Industries CEO Michael Happe said that the continued growth in towables business and strong motorized shipments provided a boost to the financial results in the quarter. Mr. Happe said that the due to the “solid progress” of the company’s motorized team, a higher level of manufacturing output was achieved. A total of 11 funds tracked by us were long in Winnebago Industries, Inc. (NYSE:WGO), as of the end of March. Chuck Royce’s Royce & Associates owns around 2.83 million shares of the company.
Move on to the next page where we discuss why shares of Pluristem Therapeutics, IMAX and AMC are trending today.
Pluristem Therapeutics Posts Positive Results of Its Cell Therapy
Pluristem Therapeutics Inc. (NASDAQ:PSTI)’s stock price has surged by more than 14% after the company reported positive results of preclinical studies of its PLX-PAD cells in the treatment of Duchenne muscular dystrophy. The Israel based bio-therapeutics company carried out the studies with the Association Duchenne Israel. The results reduced muscle degeneration or injury by approximately 50% as compared to placebo in a mouse model. In a statement, Pluristem’s CEO Zami Aberman said that the company is confident that cell therapy is useful in the treatment of Duchenne muscular dystrophy in human clinical trials.
Jim Simons’ Renaissance Technologies is one of the three hedge funds from our database having stakes in Pluristem Therapeutics Inc. (NASDAQ:PSTI) at the conclusion of the first quarter of 2016.
AMC Adds More IMAX Theaters
IMAX Corporation (USA) (NYSE:IMAX) and AMC Entertainment Holdings Inc (NYSE:AMC) announced to expand their revenue-sharing deal with the addition of 25 IMAX at AMC theatres. The new theatres will be added at new and existing AMC locations, including New York, Los Angeles and Houston. Theaters are expected to be installed from 2016 to 2019. The agreement makes AMC the biggest IMAX exhibitor in North America. As of the end of the first quarter, 15 funds racked by us are bullish on AMC Entertainment Holdings Inc (NYSE:AMC). Israel Englander’s Millennium Management owns 641,695 shares of the company.