Wasatch Core Growth Fund recently released its Q4 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 26.5% for the quarter, underperforming its benchmark, the Russell 2000 Index which returned 31.4% in the same quarter. You should check out Wasatch’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q4 2020 Investor Letter, Wasatch highlighted a few stocks and Euronet Worldwide Inc. (NASDAQ:EEFT) is one of them. Euronet Worldwide Inc. (NASDAQ:EEFT) is a provider of electronic payment services. In the last three months, Euronet Worldwide Inc. (NASDAQ:EEFT) stock gained 12.9% and on February 23rd it had a closing price of $153.38. Here is what Wasatch said:
“Euronet Worldwide, Inc. (EEFT) was also a top contributor. The company provides electronicpayment services, including automated teller machines, point-of-sale transaction processing and related financial services. We believe Euronet has the ability to generate double-digit annual sales growth over the long term, fueled by meaningfully improved earnings and the potential to generate significant free cash flows. The stock was down significantly earlier in the year due to the slowdown in the global economy. At the time, we remained confident in Euronet’s long-term prospects—and we were impressed with its management team and healthy balance sheet. We’ve since been rewarded for our patience, as the stock has bounced back strongly due to vaccine-related optimism gaining momentum among investors.”
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In Q3 2020, the number of bullish hedge fund positions on Euronet Worldwide Inc. (NASDAQ:EEFT) stock increased by about 5% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in Euronet’s growth potential. Our calculations showed that Euronet Worldwide Inc. (NASDAQ:EEFT) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
