Hedge funds bet on Geopark Ltd (GPRK)
The last 13F reporting period has passed and Insider Monkey is once again at the forefront when it comes to using this data gold mine. We have processed deposits from over 873 world-class investment firms that we follow and now have access to the collective wisdom contained in those deposits, which are based on their holdings as of June 30, data that is not available anywhere else. . Should you consider Geopark Ltd (NYSE: GPRK) for your portfolio? We will look to this invaluable collective wisdom for the answer.
East Geopark Ltd (NYSE: GPRK) a good deed to buy now? Leading investors were in a bullish mood. The number of long positions in hedge funds has increased by 2 lately. Geopark Ltd (NYSE: GPRK) was listed in 10 hedge fund portfolios at the end of June. The historical high for this statistic is 13. Our calculations also showed that GPRK is not in the top 30 most popular stocks among hedge funds (click for Q2 rank). There were 8 hedge funds in our database with holdings from GPRK at the end of March.
Why are we paying the least attention to hedge fund sentiment? Our research has shown that a select group of hedge funds have outperformed S&P 500 ETFs by 79 percentage points since March 2017 (see details here). This is why we believe that hedge fund sentiment is an extremely useful indicator that investors should pay attention to.
David Siegel of Two Sigma Advisors
At Insider Monkey, we scour multiple sources to uncover the next big investing idea. We go through lists like the top 10 electric vehicle stocks to pick the next Tesla that will deliver 10x yield. Even though we only recommend positions in a tiny fraction of the companies we analyze, we check as many stocks as possible. We read letters from hedge fund investors and listen to equity pitches at hedge fund conferences. You can sign up for our free daily newsletter on our homepage. We will now review the latest hedge fund action regarding Geopark Ltd (NYSE: GPRK).
Do hedge funds think GPRK is a good stock to buy now?
At the end of June, 10 of the hedge funds tracked by Insider Monkey were bullish on this stock, a variation of 25% from the previous quarter. By comparison, 13 hedge funds held bullish stocks or call options in GPRK a year ago. So let’s see which hedge funds were among the top stock holders and which hedge funds were making big moves.
Looking at institutional investors followed by Insider Monkey, Renaissance Technologies holds the most valuable position in Geopark Ltd (NYSE: GPRK), worth nearly $ 49.1 million, or 0.1% of its portfolio. total of 13F. In second place, Encompass Capital Advisors, managed by Todd J. Kantor, which holds a position of $ 20.6 million; the fund has 1.4% of its 13F portfolio invested in the stock. Some other professional fund managers who hold long positions are DE Shaw of DE Shaw, Two Sigma Advisors of John Overdeck and David Siegel and Royce & Associates of Chuck Royce. In terms of the portfolio weights assigned to each position, Encompass Capital Advisors assigned the largest weight to Geopark Ltd (NYSE: GPRK), approximately 1.44% of its 13F portfolio. Renaissance Technologies is also relatively very bullish on the stock, distributing 0.06% of its 13F equity portfolio to GPRK.
As global interest increased, some big names led the herd of bulls. Prelude Capital (formerly Springbok Capital), managed by Gavin Saitowitz and Cisco J. del Valle, initiated the largest position in Geopark Ltd (NYSE: GPRK). Prelude Capital (formerly Springbok Capital) had invested $ 0.3 million in the company at the end of the quarter. Ken Griffin’s investment group Citadel also invested $ 0.1 million in the stock during the quarter.
Let’s review hedge fund activity in other stocks similar to Geopark Ltd (NYSE: GPRK). We’ll be looking at Kimbell Royalty Partners, LP (NYSE: KRP), Trean Insurance Group, Inc. (NASDAQ: TIG), Brooklyn ImmunoTherapeutics, Inc. (NYSE: BTX), Horizon Bancorp, Inc. (NASDAQ: HBNC), Grid Dynamics Holdings , Inc. (NASDAQ: GDYN), Atossa Therapeutics, Inc. (NASDAQ: ATOS) and Xenon Pharmaceuticals Inc (NASDAQ: XENE). The market valuations of this group of shares are closest to the market valuation of GPRK.
[table] Ticker, number of HF with positions, total value of HF positions (x1000), change of HF position KRP, 10,21242,4 TIG, 10,58176, -1 BTX, 1,718, -1 HBNC, 10,12852,2 GDYN , 15.41366.3 ATOS, 5.19224, -1 XENE, 28.413577.1 Medium, 11.3.81022.1 [/table]
Check the table here if you have formatting issues.
As you can see, these stocks had an average of 11.3 hedge funds with bullish positions and the average amount invested in these stocks was $ 81 million. That figure was $ 79 million in the case of GPRK. Xenon Pharmaceuticals Inc (NASDAQ: XENE) is the most popular stock in this table. On the other hand, Brooklyn ImmunoTherapeutics, Inc. (NYSE: BTX) is the least popular with only 1 bullish hedge fund positions. Geopark Ltd (NYSE: GPRK) isn’t the least popular stock in this group, but hedge fund interest is still below average. Our overall hedge fund sentiment score for GPRK is 46.7. Stocks with a higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly negative signal and we prefer to spend our time researching the stocks that hedge funds are accumulating on. Our calculations showed that the 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 25.7% in 2021 through September 27 and again topped the market by 6.2 percentage points. Unfortunately, GPRK was not as popular as these 5 stocks (hedge fund sentiment was rather bearish); GPRK investors were disappointed as the stock has returned -10.9% since the end of June (through 9/27) and has underperformed the market. If you want to invest in large cap stocks with huge upside potential, you should check out the 5 most popular stocks among hedge funds, as most of these stocks have already outperformed the market in 2021.
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Disclosure: none. This article originally appeared on Insider Monkey.