Here is What Hedge Funds Think About Anika Therapeutics, Inc. (ANIK) (2024)
With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the second quarter. One of these stocks was Anika Therapeutics, Inc. (NASDAQ:ANIK).
Anika Therapeutics, Inc. (NASDAQ:ANIK) was in 16 hedge funds’ portfolios at the end of June. ANIK investors should be aware of an increase in activity from the world’s largest hedge funds of late. There were 15 hedge funds in our database with ANIK positions at the end of the previous quarter. Our calculations also showed that ANIK isn’t among the 30 most popular stocks among hedge funds (see the video below).
Video: Click the image to watch our video about the top 5 most popular hedge fund stocks.
In the eyes of most traders, hedge funds are viewed as worthless, outdated investment vehicles of the past. While there are more than 8000 funds in operation today, Our researchers look at the elite of this club, around 750 funds. These investment experts preside over the lion’s share of the hedge fund industry’s total capital, and by tracking their best investments, Insider Monkey has discovered a few investment strategies that have historically beaten the S&P 500 index. Insider Monkey’s flagship hedge fund strategy beat the S&P 500 index by around 5 percentage points per annum since its inception in May 2014. We were able to generate large returns even by identifying short candidates. Our portfolio of short stocks lost 25.7% since February 2017 (through September 30th) even thoughthe market was up more than 33% during the same period. We just shared a list of 10 short targetsin our latest quarterly update .
In addition to following thebiggest hedge fundsfor investment ideas, we also share stock pitches from conferences, investor letters and other sources like this one where the fund manager is talking about two under the radar1000% return potential stocks:first one ininternet infrastructureand thesecond in theheart of advertising market. Weuse hedge fund buy/sell signals to determine whether to conduct in-depth analysis of these stock ideas which take days. Let’s analyze the new hedge fund action regarding Anika Therapeutics, Inc. (NASDAQ:ANIK).
What have hedge funds been doing with Anika Therapeutics, Inc. (NASDAQ:ANIK)?
At Q2’s end, a total of 16 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 7% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards ANIK over the last 16 quarters. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were adding to their stakes meaningfully (or already accumulated large positions).
The largest stake in Anika Therapeutics, Inc. (NASDAQ:ANIK) was held by Renaissance Technologies, which reported holding $18 million worth of stock at the end of March. It was followed by D E Shaw with a $16.8 million position. Other investors bullish on the company included Millennium Management, Two Sigma Advisors, and Citadel Investment Group.
With a general bullishness amongst the heavyweights, key money managers have jumped into Anika Therapeutics, Inc. (NASDAQ:ANIK) headfirst. Magnetar Capital, managed by Alec Litowitz and Ross Laser, created the biggest position in Anika Therapeutics, Inc. (NASDAQ:ANIK). Magnetar Capital had $0.6 million invested in the company at the end of the quarter. Joel Greenblatt’s Gotham Asset Management also made a $0.4 million investment in the stock during the quarter. The other funds with brand new ANIK positions are David Harding’s Winton Capital Management and Paul Tudor Jones’s Tudor Investment Corp.
Let’s check out hedge fund activity in other stocks similar to Anika Therapeutics, Inc. (NASDAQ:ANIK). We will take a look at X Financial (NYSE:XYF), Conn’s, Inc. (NASDAQ:CONN), RISE Education Cayman Ltd (NASDAQ:REDU), and Bank of Marin Bancorp (NASDAQ:BMRC). This group of stocks’ market values are similar to ANIK’s market value.
Ticker
No of HFs with positions
Total Value of HF Positions (x1000)
Change in HF Position
XYF
3
2337
1
CONN
21
95997
5
REDU
6
6310
3
BMRC
5
18128
-2
Average
8.75
30693
1.75
View table hereif you experience formatting issues.
As you can see these stocks had an average of 8.75 hedge funds with bullish positions and the average amount invested in these stocks was $31 million. That figure was $71 million in ANIK’s case. Conn’s, Inc. (NASDAQ:CONN) is the most popular stock in this table. On the other hand X Financial (NYSE:XYF) is the least popular one with only 3 bullish hedge fund positions. Anika Therapeutics, Inc. (NASDAQ:ANIK) is not the most popular stock in this group but hedge fund interest is still above average. Our calculations showed that top 20 most popular stocks among hedge funds returned 24.4% in 2019 through September 30th and outperformed the S&P 500 ETF (SPY) by 4 percentage points. Hedge funds were also right about betting on ANIK as the stock returned 35.1% during the third quarter and outperformed the market. Hedge funds were rewarded for their relative bullishness.
Disclosure: None. This article was originally published at Insider Monkey.
NASDAQ:ANIKYahoo FinanceIs ANIK A Good Stock To Buy?Is ANIK A Good Investment Right Now?
The fund manager often hedges the fund's positions to protect them from market risk. They do so by investing a portion of the fund's assets in securities whose prices move in the opposite direction of the fund's core holdings.
Many hedge funds seek to profit in all kinds of markets by using leverage (in other words, borrowing to increase investment exposure as well as risk), short-selling and other speculative investment practices that are not often used by mutual funds.
Westport, Conn. Westport, Conn. In 1975, Bridgewater Associates was founded by Ray Dalio in his Manhattan apartment. Today Bridgewater is the largest hedge fund in the world and Dalio has a personal fortune of approximately $19 billion.
One of the reasons for the perceived high failure rate of hedge funds is that their attrition rate is known to be high, approximately 9% per annum. The latter rate is generally estimated by counting the number of defunct funds in hedge fund databases.
High Fees. Another long-time staple of the hedge fund industry is the fee system. Most hedge funds have traditionally operated on what is known as the "two and twenty" fee. In this fee system, clients pay a management fee of 2% of their total assets to the managers of the hedge fund.
Who Is the Richest Hedge Fund Manager? Ken Griffin of Citadel is both the richest hedge fund manager and the highest paid. In 2022, he earned $41. billion, and by the beginning of 2023 his net worth was estimated at $35 billion.
Hedge funds seem to rake in billions of dollars a year for their professional investment acumen and portfolio management across a range of strategies. Hedge funds make money as part of a fee structure paid by fund investors based on assets under management (AUM).
Yes, you could start with much less capital, or go through a hedge fund incubator, or use a “friends and family” approach, or target only high-net-worth individuals. But if you start with, say, $5 million, you will not have enough to pay yourself anything, hire others, or even cover administrative costs.
To invest in hedge funds as an individual, you must be an institutional investor, like a pension fund, or an accredited investor. Accredited investors have a net worth of at least $1 million, not including the value of their primary residence, or annual individual incomes over $200,000 ($300,000 if you're married).
Hedge funds offer the potential for high returns and diversification benefits, but they also come at the cost of higher fees and less regulatory oversight. As with any investment, you should do your own research to determine whether they make sense for your portfolio.
With respect to establishing a U.S. hedge fund, average hedge fund startup costs range from $50,000 to $100,000, and first- year operational costs usually total $75,000 to $150,000.
In 2023, the five highest-paid hedge fund managers were Ken Griffin of Citadel, Izzy Englander of Millennium Management, Steve Cohen of Point72 Asset Management, David Tepper of Appaloosa Management, and James Simon of Renaissance Technologies.
BlackRock, Inc. is an American multinational investment company. It is the world's largest asset manager, with $10 trillion in assets under management as of December 31, 2023. Headquartered in New York City, BlackRock has 78 offices in 38 countries, and clients in 100 countries.
Introduction: My name is Msgr. Refugio Daniel, I am a fine, precious, encouraging, calm, glamorous, vivacious, friendly person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
