A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Anika Therapeutics, Inc. (NASDAQ:ANIK).
Anika Therapeutics, Inc. (NASDAQ:ANIK) investors should be aware of an increase in activity from the world’s largest hedge funds lately. ANIK was in 17 hedge funds’ portfolios at the end of the third quarter of 2016. There were 12 hedge funds in our database with ANIK holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as VASCO Data Security International, Inc. (NASDAQ:VDSI), Nautilus, Inc. (NYSE:NLS), and Pinnacle Entertainment, Inc (NYSE:PNK) to gather more data points.
Follow Anika Therapeutics Inc. (NASDAQ:ANIK)
Follow Anika Therapeutics Inc. (NASDAQ:ANIK)
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
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What have hedge funds been doing with Anika Therapeutics, Inc. (NASDAQ:ANIK)?
At the end of the third quarter, a total of 17 of the hedge funds tracked by Insider Monkey were long this stock, up by 42% from the previous quarter. On the other hand, there were a total of 16 hedge funds with a bullish position in ANIK at the beginning of this year. So, let’s review which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Renaissance Technologies, one of the largest hedge funds in the world, has the most valuable position in Anika Therapeutics, Inc. (NASDAQ:ANIK), worth close to $9.9 million. On Renaissance Technologies’ heels is Anders Hallberg and Carl Bennet of HealthInvest Partners AB, with a $9.7 million position; the fund has 7.2% of its 13F portfolio invested in the stock. Some other professional money managers with similar optimism contain Israel Englander’s Millennium Management, Cliff Asness’ AQR Capital Management and Ken Fisher’s Fisher Asset Management. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.
