RIG stock: Goldman Saches | $80 dollar crude oil in 2021 | Behind us, impossible - Aug. 23, 2021

 Aug. 23, 2021

Yahoo -> Finance, here is the link. 

Goldman Sachs Doubles Down On $80 Oil Prediction

By Charles Kennedy - Jun 11, 2021, 9:00 AM CDT

Goldman Sachs has reiterated its forecast that Brent crude will hit $80 per barrel this summer as demand quickly recovers.

"Rising vaccination rates are leading to higher mobility in the U.S. and Europe, with global demand estimated up 1.5 mb/d (million barrels per day) in the last month to 96.5 mb/d," the investment bank said in a note as quoted by Reuters.

Goldman first said it expected Brent to hit $80 this year in March, expecting this to happen by the third quarter of this year.

Then, in April, the bank reiterated its forecast, noting, "The magnitude of the coming change in the volume of demand -- a change which supply cannot match -- must not be understated."

A month later, Goldman analysts wrote that "The case for higher oil prices therefore remains intact given the large vaccine-driven increase in demand in the face of inelastic supply," referring to the possibility that the United States and Iran will reach an agreement on the latter's nuclear program that would lead to the lifting of U.S. sanctions.

The lifting of the U.S. sanctions on Iran is unanimously seen as bearish for oil prices, but observers differ in their opinion on exactly how bearish it would be. According to Goldman, the return of Iranian oil to global markets will not have a significant effect on demand dynamics and, therefore, prices.

Indeed, earlier this week, the U.S. lifted some sanctions against Tehran officials, and prices fell but not for long. At the time of writing, Brent was trading above $72 per barrel and West Texas Intermediate was changing hands at $70.72 per barrel.

Meanwhile, OPEC has said it expected oil demand to rise by 6 million bpd this year, and the International Energy Agency forecast it would add 5.4 million bpd this year and another 3.1 million bpd next year, returning to and exceeding pre-pandemic levels to reach 100.6 million bpd by the end of 2022.

By Charles Kennedy for Oilprice.com

30 Most Popular Stocks Among Hedge Funds: 2021 Q1 Rankings | Insider monkey

 Long/short equity hedge funds had an amazing 2021 so far. During the first 4 months of this year long/short equity hedge funds returned nearly 9%, vs. 12% gain for the S&P 500 Index.

In 2020, global hedge funds gained around 12%, posting their strongest full-year returns since 2009. Close to 40% of the managers in the Eurekahedge Hedge Fund Index reported double-digit return for 2020. Data from LCH Investments show that the world’s 20 best-performing hedge funds made a whopping $63.5 billion for their clients in 2020, a record in the last 10 years. This might look like a “rebound” for those who pay attention to just the hedge fund indices — where returns are shrinking amid fees and several other factors — but Insider Monkey’s strategy of focusing on the top picks of hedge funds and prominent investors has been consistently beating the market over the last several years. For instance, top 10 stocks picks of over 800 hedge funds tracked by Insider Monkey returned 256.5% from 2014 until 2020, versus SPY’s 132.4%.

Insider Monkey has long been a believer of imitating the top stock picks of hedge funds, and this strategy has helped us beat the market consistently over the last several years. For instance, between March 2017 and April 30th 2021 our monthly newsletter’s stock picks returned 212.6%, vs. 89.8% for the SPY. Our stock picks outperformed the market by more than 122 percentage points. Our performance so far in 2021 is also very strong. Our portfolio of stock picks returned 21% during the first 4 months of 2021, vs. 12% gain for the S&P 500 ETFs.

We don’t talk much about our small-cap stock picks but we have been sharing the list of 30 most popular stocks among hedge funds here at Insider Monkey since the end of 2018. The majority of these stocks aren’t traditional value stocks. In February 2021, we shared hedge funds’ top 30 stock picks. Six months ago we also shared hedge funds’ top 30 stock picks at the end of November 2020. Three months before that we shared hedge funds’ top 30 stock picks for Q2’20. This quarter’s top 30 stocks returned 3.8% so far in Q2 and underperformed the S&P 500 Index by 2 percentage points, while the top 5 stocks returned 8.9%, versus 5.8% for SPY in the same period.

Overall, hedge funds’ top 5 stock picks returned 39.9% in 2020 and beat the market by 21.6 percentage points. From 2015 until the end of 2020, these 5 stocks returned 209.4% and beat the S&P 500 Index by 104 percentage points.

More than half of all investors invest in dumb index funds because they were made to believe that they can’t outperform the market by stock selection (or they are forced to invest in index funds in their companies’ retirement accounts). I am going to share with you a very simple investment strategy that outperformed the dumb S&P 500 Index ETF (SPY) by 126 percentage points since 2015.

This simple strategy’s 10 stock picks returned 74% between 2015 and 2018, versus SPY’s 32% gain during the same period.

This simple strategy’s 10 stock picks also returned nearly 91% in 2019 and 2020, vs. SPY’s 55.3% gain.

This simple strategy’s 10 stock picks thrived in last year’s coronavirus crash returning 34.9% in 2020, vs. 18.4% gain for the S&P 500.

This is why we call index fund investing “dumb”.

The simple strategy I am talking about is hedge funds’ top 10 stock picks.

Every quarter we process more than 800 hedge funds’ 13F filings and identify the top stocks among ALL 800+ hedge funds. The list of top 10 hedge fund stocks hasn’t changed much since the third quarter of 2018. If you had invested in this low turnover simple strategy at the beginning of 2015, you would have outperformed the S&P 500 ETFs by more than 126 percentage points.

Hedge funds knew these 10 stocks are the “best” 10 stocks to buy and they were piling into these stocks.

Insider Monkey’s mission is to identify promising (and also terrible) hedge fund stock pitches and share them with our subscribers. We launched our monthly newsletter’s activist strategy nearly 4 years ago and this strategy’s picks returned 212.6% since then and beat the SPY by 122 percentage points. Our subscription prices start at $59 per year and come with a 14-day full refund guarantee.

Nowadays most investors believe that hedge funds lost their “magic touch” a long time ago and can’t beat the market. Don’t trust the returns reported by hedge fund indices. They misrepresent hedge funds’ stock picking skills. Hedge fund indices underperform the market because hedge funds hedge and they charge an arm and a leg for their services. If you want to compare apples to apples, you need to take a look at the performance of the most popular hedge fund stocks vs. the returns of the S&P 500 Index. Apple, Google, Microsoft, Facebook, and Amazon have consistently been among the top 10 hedge fund picks over the last 8.5 years since we started publishing our quarterly newsletter. You don’t have to be a math wizard to calculate the mind numbing returns of these technology stocks most of which now trade for more than $1 trillion valuation.

The best thing about following hedge funds’ top picks on our website is that you don’t need to pay hedge funds an annual 2% fee and 20% of your profits to beat the market. We do that here free of charge using the holdings data from the legally required SEC portfolio disclosures. Our approach is also superior to investing directly into hedge funds because we don’t like to invest in a hedge funds’ 35th best idea when we can invest in only the best stock picks of the best hedge funds.

Below we listed the 30 most popular stocks among hedge funds at the end of March 2021. If you are only interested in large-cap stocks, check out the top 20 stocks in this list below:

1. Facebook, Inc. (NASDAQ: FB): $316.23

Number of Hedge Funds: 242 (2020Q4)
Number of Hedge Funds: 230 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $40.97 billion
Percent of Hedge Funds with Long Positions: 29.7%
Second Quarter Return (through May 21): 7.4%
Popularity Ranking (2020Q4): 3
Popularity Ranking (2020Q3): 3
Noteworthy Hedge Fund Shareholders: Lone Pine Capital, Brad Gestner

2.  Microsoft Corporation (NASDAQ: MSFT): $245.17

Number of Hedge Funds: 258 (2020Q4)
Number of Hedge Funds: 234 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $58.96 billion
Percent of Hedge Funds with Long Positions: 29%
Second Quarter Return (through May 21): 4.2%
Popularity Ranking (2020Q4): 2
Popularity Ranking (2020Q3): 2
Noteworthy Hedge Fund Shareholders: Tiger Global

3.  Amazon.com, Inc. (NASDAQ: AMZN): $3,203.08

Number of Hedge Funds: 273 (2020Q4)
Number of Hedge Funds: 245 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $50.42 billion
Percent of Hedge Funds with Long Positions: 28.1%
Second Quarter Return (through May 21): 3.5%
Popularity Ranking (2020Q4): 1
Popularity Ranking (2020Q3): 1
Noteworthy Hedge Fund Shareholders: Masayoshi Son

4.  Alphabet Inc. Class A (NASDAQ: GOOGL): $2,294.13

Number of Hedge Funds: 179 (2020Q4)
Number of Hedge Funds: 162 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $24.57 billion
Percent of Hedge Funds with Long Positions: 21.4%
Second Quarter Return (through May 21): 11.2%
Popularity Ranking (2020Q4): 4
Popularity Ranking (2020Q3): 5
Noteworthy Hedge Fund Shareholders: Chris Hohn

5.  Visa Inc. (NYSE: V): $226.77

Number of Hedge Funds: 166 (2020Q4)
Number of Hedge Funds: 160 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $26.59 billion
Percent of Hedge Funds with Long Positions: 18.9%
Second Quarter Return (through May 21): 7.3%
Popularity Ranking (2020Q4): 5
Popularity Ranking (2020Q3): 6
Noteworthy Hedge Fund Shareholders: Fisher Asset Management

6.  Alphabet Inc. Class C (NASDAQ: GOOG): $2,345.10

Number of Hedge Funds: 157 (2020Q4)
Number of Hedge Funds: 150 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $29.09 billion
Percent of Hedge Funds with Long Positions: 18.4%
Second Quarter Return (through May 21): 13.4%
Popularity Ranking (2020Q4): 6
Popularity Ranking (2020Q3): 7
Noteworthy Hedge Fund Shareholders: Melvin Capital

7. Mastercard Incorporated (NYSE: MA): $367.60

Number of Hedge Funds: 154 (2020Q4)
Number of Hedge Funds: 133 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $17.10 billion
Percent of Hedge Funds with Long Positions: 17.4%
Second Quarter Return (through May 21): 3.4%
Popularity Ranking (2020Q4): 8
Popularity Ranking (2020Q3): 10
Noteworthy Hedge Fund Shareholders: Akre Capital Management

8.  PayPal Holdings, Inc. (NASDAQ: PYPL): $250.69

Number of Hedge Funds: 147 (2020Q4)
Number of Hedge Funds: 150 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $14.72 billion
Percent of Hedge Funds with Long Positions: 16.5%
Second Quarter Return (through May 21): 3.2%
Popularity Ranking (2020Q4): 9
Popularity Ranking (2020Q3): 8
Noteworthy Hedge Fund Shareholders: Terry Smith

9. Alibaba Group Holding Limited (NYSE: BABA): $211.06

Number of Hedge Funds: 156 (2020Q4)
Number of Hedge Funds: 166 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $15.50 billion
Percent of Hedge Funds with Long Positions: 15.6%
Second Quarter Return (through May 21): -6.9%
Popularity Ranking (2020Q4): 7
Popularity Ranking (2020Q3): 4
Noteworthy Hedge Fund Shareholders: Ken Fisher, Izzy Englander

10.  The Walt Disney Company (NYSE: DIS): $172.40

Number of Hedge Funds: 144 (2020Q4)
Number of Hedge Funds: 112 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $12.55 billion
Percent of Hedge Funds with Long Positions: 15.5%
Second Quarter Return (through May 21): -6.6%
Popularity Ranking (2020Q4): 11
Popularity Ranking (2020Q3): 14
Noteworthy Hedge Fund Shareholders: D E Shaw

11. Uber Technologies, Inc. (NYSE: UBER): $48.82

Number of Hedge Funds: 135 (2020Q4)
Number of Hedge Funds: 100 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $10.53 billion
Percent of Hedge Funds with Long Positions: 15%
Second Quarter Return (through May 21): -10.4%
Popularity Ranking (2020Q4): 12
Popularity Ranking (2020Q3): 19
Noteworthy Hedge Fund Shareholders: Altimeter Capital Management, Tiger Global Management LLC

12.  Apple Inc. (NASDAQ: AAPL): $125.43

Number of Hedge Funds: 146 (2020Q4)
Number of Hedge Funds: 134 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $130.91 billion
Percent of Hedge Funds with Long Positions: 14.7%
Second Quarter Return (through May 21): 2.9%
Popularity Ranking (2020Q4): 10
Popularity Ranking (2020Q3): 9
Noteworthy Hedge Fund Shareholders: Warren Buffett

13. Berkshire Hathaway Inc. (NYSE: BRK-B): $287.74

Number of Hedge Funds: 110 (2020Q4)
Number of Hedge Funds: 109 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $19.88 billion
Percent of Hedge Funds with Long Positions: 12.8%
Second Quarter Return (through May 21): 12.6%
Popularity Ranking (2020Q4): 18
Popularity Ranking (2020Q3): 15
Noteworthy Hedge Fund Shareholders: Bill & Melinda Gates Foundation Trust

14. JPMorgan Chase & Co. (NYSE: JPM): $162.66

Number of Hedge Funds: 112 (2020Q4)
Number of Hedge Funds: 118 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $5.25 billion
Percent of Hedge Funds with Long Positions: 12.8%
Second Quarter Return (through May 21): 7.5%
Popularity Ranking (2020Q4): 17
Popularity Ranking (2020Q3): 12
Noteworthy Hedge Fund Shareholders: Adage Capital Management

15. Netflix, Inc. (NASDAQ: NFLX): $497.89

Number of Hedge Funds: 116 (2020Q4)
Number of Hedge Funds: 104 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $14.16 billion
Percent of Hedge Funds with Long Positions: 12.7%
Second Quarter Return (through May 21): -4.6%
Popularity Ranking (2020Q4): 14
Popularity Ranking (2020Q3): 18
Noteworthy Hedge Fund Shareholders: SRS Investment Management

16. Adobe Inc. (NASDAQ: ADBE): $488.07

Number of Hedge Funds: 114 (2020Q4)
Number of Hedge Funds: 106 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $12.11 billion
Percent of Hedge Funds with Long Positions: 12.4%
Second Quarter Return (through May 21): 2.7%
Popularity Ranking (2020Q4): 16
Popularity Ranking (2020Q3): 17
Noteworthy Hedge Fund Shareholders: Arrowstreet Capital

17. Twitter, Inc. (NYSE: TWTR): $54.45

Number of Hedge Funds: 78 (2020Q4)
Number of Hedge Funds: 75 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $4.53 billion
Percent of Hedge Funds with Long Positions: 12.4%
Second Quarter Return (through May 21): -14.4%
Popularity Ranking (2020Q4): 54
Popularity Ranking (2020Q3): 50
Noteworthy Hedge Fund Shareholders: Elliott Management

18. Booking Holdings Inc. (NASDAQ: BKNG): $2,293.38

Number of Hedge Funds: 108 (2020Q4)
Number of Hedge Funds: 113 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $6.81 billion
Percent of Hedge Funds with Long Positions: 11.9%
Second Quarter Return (through May 21): -1.6%
Popularity Ranking (2020Q4): 19
Popularity Ranking (2020Q3): 13
Noteworthy Hedge Fund Shareholders: Ako Capital

19. Micron Technology, Inc. (NASDAQ: MU): $80.72

Number of Hedge Funds: 100 (2020Q4)
Number of Hedge Funds: 79 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $7.62 billion
Percent of Hedge Funds with Long Positions: 11.5%
Second Quarter Return (through May 21): -8.5%
Popularity Ranking (2020Q4): 21
Popularity Ranking (2020Q3): 44
Noteworthy Hedge Fund Shareholders: Appaloosa Management LP

20. Twilio Inc. (NYSE: TWLO): $314.64

Number of Hedge Funds:  94 (2020Q4)
Number of Hedge Funds: 71 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $5.81 billion
Percent of Hedge Funds with Long Positions: 11.4%
Second Quarter Return (through May 21): -7.7%
Popularity Ranking (2020Q4): 29
Popularity Ranking (2020Q3): 60
Noteworthy Hedge Fund Shareholders: SCGE Management

21. ServiceNow, Inc. (NYSE: NOW): $469.47

Number of Hedge Funds: 96 (2020Q4)
Number of Hedge Funds: 82 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $6.13 billion
Percent of Hedge Funds with Long Positions: 11.3%
Second Quarter Return (through May 21): -6.1%
Popularity Ranking (2020Q4): 25
Popularity Ranking (2020Q3): 36
Noteworthy Hedge Fund Shareholders: Tiger Global Management LLC, GQG Partners

22. Sea Limited (NYSE: SE): $246.33

Number of Hedge Funds: 115 (2020Q4)
Number of Hedge Funds: 95 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $10.43 billion
Percent of Hedge Funds with Long Positions: 11.3%
Second Quarter Return (through May 21): 10.3%
Popularity Ranking (2020Q4): 15
Popularity Ranking (2020Q3): 20
Noteworthy Hedge Fund Shareholders: ARK Investment Management

23. T-Mobile US, Inc. (NASDAQ: TMUS): $136.05

Number of Hedge Funds: 103 (2020Q4)
Number of Hedge Funds: 94 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $9.06 billion
Percent of Hedge Funds with Long Positions: 11.3%
Second Quarter Return (through May 21): 8.6%
Popularity Ranking (2020Q4): 20
Popularity Ranking (2020Q3): 21
Noteworthy Hedge Fund Shareholders: Viking Global

24. Bank of America Corporation (NYSE: BAC): $42.40

Number of Hedge Funds: 99 (2020Q4)
Number of Hedge Funds: 88 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $45.32 billion
Percent of Hedge Funds with Long Positions: 11.2%
Second Quarter Return (through May 21): 9.6%
Popularity Ranking (2020Q4): 22
Popularity Ranking (2020Q3): 27
Noteworthy Hedge Fund Shareholders: GQG Partners

25. Wells Fargo & Company (NYSE: WFC): $45.88

Number of Hedge Funds: 99 (2020Q4)
Number of Hedge Funds: 90 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $7.45 billion
Percent of Hedge Funds with Long Positions: 11.1%
Second Quarter Return (through May 21): 17.7%
Popularity Ranking (2020Q4): 23
Popularity Ranking (2020Q3): 24
Noteworthy Hedge Fund Shareholders: Boykin Curry

26. Square, Inc. (NYSE: SQ): $200.01

Number of Hedge Funds: 89 (2020Q4)
Number of Hedge Funds: 73 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $9.20 billion
Percent of Hedge Funds with Long Positions: 10.6%
Second Quarter Return (through May 21): -11.9%
Popularity Ranking (2020Q4): 35
Popularity Ranking (2020Q3): 54
Noteworthy Hedge Fund Shareholders: Bares Capital Management

27. Salesforce.com, inc. (NYSE: CRM): $222.58

Number of Hedge Funds: 97 (2020Q4)
Number of Hedge Funds: 106 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $8.84 billion
Percent of Hedge Funds with Long Positions: 10.5%
Second Quarter Return (through May 21): 5.1%
Popularity Ranking (2020Q4): 24
Popularity Ranking (2020Q3): 16
Noteworthy Hedge Fund Shareholders: Fisher Asset Management

28. Shopify Inc. (NYSE: SHOP): $1,224.12

Number of Hedge Funds: 90 (2020Q4)
Number of Hedge Funds: 81 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $9.98 billion
Percent of Hedge Funds with Long Positions: 10.5%
Second Quarter Return (through May 21): 10.6%
Popularity Ranking (2020Q4): 33
Popularity Ranking (2020Q3): 38
Noteworthy Hedge Fund Shareholders: Lone Pine Capital

29. Citigroup Inc. (NYSE: C): $63.48

Number of Hedge Funds: 95 (2020Q4)
Number of Hedge Funds: 91 (2020Q3)
Total Dollar Amount of Long Hedge Fund Positions: $6.94 billion
Percent of Hedge Funds with Long Positions: 10.4%
Second Quarter Return (through May 21): 7.5%
Popularity Ranking (2020Q4): 26
Popularity Ranking (2020Q3): 23
Noteworthy Hedge Fund Shareholders: Kahn Brothers, ValueAct Capital

30. Baidu, Inc. (NASDAQ: BIDU)

Number of Hedge Funds: 89 (2021Q1)
Number of Hedge Funds: 51 (2020Q4)
Total Dollar Amount of Long Hedge Fund Positions: $6.57 billion
Percent of Hedge Funds with Long Positions: 10.3%
Second Quarter Return (through May 21): -12.9%
Popularity Ranking (2020Q4): 199
Popularity Ranking (2020Q3): Not in top 200
Noteworthy Hedge Fund Shareholders: Renaissance Technologies

AMC stock: Hedge funds sentimental on AMC | Inside Monkey

Here is What Hedge Funds Think About AMC Entertainment Holdings Inc (AMC)

Debasis Saha

July 20, 2021·6 min read

Is AMC Entertainment Holdings Inc (NYSE:AMC) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to work. The top picks of these firms have historically outperformed the market when we account for known risk factors, making them very valuable investment ideas.

AMC Entertainment Holdings Inc (NYSE:AMC) investors should pay attention to an increase in hedge fund interest recently. AMC Entertainment Holdings Inc (NYSE:AMC) was in 19 hedge funds' portfolios at the end of the first quarter of 2021. The all time high for this statistic is 31. There were 16 hedge funds in our database with AMC holdings at the end of December. Our calculations also showed that AMC isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings).

Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by 115 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter.

Daniel Och, Founder of OZ Management

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, Chuck Schumer recently stated that marijuana legalization will be a Senate priority. So, we are checking out this under the radar stock that will benefit from this. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Now we're going to take a look at the new hedge fund action regarding AMC Entertainment Holdings Inc (NYSE:AMC).

Do Hedge Funds Think AMC Is A Good Stock To Buy Now?

At the end of the first quarter, a total of 19 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 19% from the previous quarter. Below, you can check out the change in hedge fund sentiment towards AMC over the last 23 quarters. With hedge funds' capital changing hands, there exists a select group of noteworthy hedge fund managers who were adding to their stakes substantially (or already accumulated large positions).

According to Insider Monkey's hedge fund database, Ken Griffin's Citadel Investment Group has the largest call position in AMC Entertainment Holdings Inc (NYSE:AMC), worth close to $42 million, comprising less than 0.1%% of its total 13F portfolio. Coming in second is 683 Capital Partners, managed by Ari Zweiman, which holds a $29 million call position; the fund has 1.5% of its 13F portfolio invested in the stock. Other peers that hold long positions encompass D. E. Shaw's D E Shaw, Ken Griffin's Citadel Investment Group and Daniel S. Och's OZ Management. In terms of the portfolio weights assigned to each position 683 Capital Partners allocated the biggest weight to AMC Entertainment Holdings Inc (NYSE:AMC), around 1.53% of its 13F portfolio. Arbiter Partners Capital Management is also relatively very bullish on the stock, dishing out 0.26 percent of its 13F equity portfolio to AMC.

With a general bullishness amongst the heavyweights, specific money managers have been driving this bullishness. 683 Capital Partners, managed by Ari Zweiman, established the largest call position in AMC Entertainment Holdings Inc (NYSE:AMC). 683 Capital Partners had $29 million invested in the company at the end of the quarter. Renaissance Technologies also made a $5.3 million investment in the stock during the quarter. The other funds with brand new AMC positions are Paul J. Isaac's Arbiter Partners Capital Management, Paul Marshall and Ian Wace's Marshall Wace LLP, and Cliff Asness's AQR Capital Management.

Let's now review hedge fund activity in other stocks similar to AMC Entertainment Holdings Inc (NYSE:AMC). These stocks are Acadia Healthcare Company Inc (NASDAQ:ACHC), Atea Pharmaceuticals, Inc. (NASDAQ:AVIR), Vontier Corporation (NYSE:VNT), Park Hotels & Resorts Inc. (NYSE:PK), CIT Group Inc. (NYSE:CIT), Galapagos NV (NASDAQ:GLPG), and Avis Budget Group Inc. (NASDAQ:CAR). This group of stocks' market caps are closest to AMC's market cap.

[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position ACHC,30,525135,1 AVIR,13,1296595,-1 VNT,38,786836,2 PK,18,101472,5 CIT,28,802021,-3 GLPG,20,167561,8 CAR,21,1724243,-7 Average,24,771980,0.7 [/table]

View table here if you experience formatting issues.

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $772 million. That figure was $34 million in AMC's case. Vontier Corporation (NYSE:VNT) is the most popular stock in this table. On the other hand Atea Pharmaceuticals, Inc. (NASDAQ:AVIR) is the least popular one with only 13 bullish hedge fund positions. AMC Entertainment Holdings Inc (NYSE:AMC) is not the least popular stock in this group but hedge fund interest is still below average. Our overall hedge fund sentiment score for AMC is 38.4. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that top 5 most popular stocks among hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 23.8% in 2021 through July 16th and still beat the market by 7.7 percentage points. A small number of hedge funds were also right about betting on AMC as the stock returned 242.4% since the end of the first quarter (through 7/16) and outperformed the market by an even larger margin.

Top 5 defense contractors: $10,000 stock purchase in 2001 | 10 baggers - LMT, BA, NOC

 Aug. 22, 2021

2021 August 

$10,000 stock purchase in 2001

1. $133,559 - Lockheed Martin
2. Northrop Grumman Corporation - $129,645
3. Boeing - $107,588
4. General dynamics - $72516
5. Raytheon Technology Corporation - $43167