After several tireless days we have finished crunching the numbers from nearly 900 13F filings issued by the elite hedge funds and other investment firms that we track at Insider Monkey, which disclosed those firms’ equity portfolios as of March 31st. The results of that effort will be put on display in this article, as we share valuable insight into the smart money sentiment towards 9F Inc. (NASDAQ:JFU).
Is JFU stock a buy? 9F Inc. (NASDAQ:JFU) investors should be aware of an increase in enthusiasm from smart money recently. 9F Inc. (NASDAQ:JFU) was in 4 hedge funds’ portfolios at the end of March. The all time high for this statistic was 3. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. Our calculations also showed that JFU isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings).
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Matthew Hulsizer of PEAK6 Capital
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Do Hedge Funds Think JFU Is A Good Stock To Buy Now?
Heading into the second quarter of 2021, a total of 4 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 33% from the previous quarter. The graph below displays the number of hedge funds with bullish position in JFU over the last 23 quarters. With hedgies’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were adding to their stakes considerably (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Matthew Hulsizer’s PEAK6 Capital Management has the largest position in 9F Inc. (NASDAQ:JFU), worth close to $0.4 million, corresponding to less than 0.1%% of its total 13F portfolio. The second most bullish fund manager is Renaissance Technologies, which holds a $0.3 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other peers that hold long positions include Israel Englander’s Millennium Management, Ken Griffin’s Citadel Investment Group and . In terms of the portfolio weights assigned to each position PEAK6 Capital Management allocated the biggest weight to 9F Inc. (NASDAQ:JFU), around 0.0009% of its 13F portfolio. Renaissance Technologies is also relatively very bullish on the stock, earmarking 0.0004 percent of its 13F equity portfolio to JFU.
With a general bullishness amongst the heavyweights, some big names were leading the bulls’ herd. PEAK6 Capital Management, managed by Matthew Hulsizer, created the most valuable position in 9F Inc. (NASDAQ:JFU). PEAK6 Capital Management had $0.4 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $0.1 million position during the quarter.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as 9F Inc. (NASDAQ:JFU) but similarly valued. We will take a look at Atlas Technical Consultants, Inc. (NASDAQ:ATCX), Immunome, Inc. (NASDAQ:IMNM), Ooma Inc (NYSE:OOMA), ProQR Therapeutics NV (NASDAQ:PRQR), NantHealth, Inc. (NASDAQ:NH), Oncorus, Inc. (NASDAQ:ONCR), and Team, Inc. (NYSE:TISI). This group of stocks’ market valuations are similar to JFU’s market valuation.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| ATCX | 8 | 35663 | 1 |
| IMNM | 1 | 11248 | -2 |
| OOMA | 14 | 114359 | -1 |
| PRQR | 18 | 100912 | 9 |
| NH | 3 | 467 | -3 |
| ONCR | 14 | 133011 | 5 |
| TISI | 11 | 77067 | -2 |
| Average | 9.9 | 67532 | 1 |
View table here if you experience formatting issues.
As you can see these stocks had an average of 9.9 hedge funds with bullish positions and the average amount invested in these stocks was $68 million. That figure was $1 million in JFU’s case. ProQR Therapeutics NV (NASDAQ:PRQR) is the most popular stock in this table. On the other hand Immunome, Inc. (NASDAQ:IMNM) is the least popular one with only 1 bullish hedge fund positions. 9F Inc. (NASDAQ:JFU) is not the least popular stock in this group but hedge fund interest is still below average. Our overall hedge fund sentiment score for JFU is 44.8. 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 17.2% in 2021 through June 11th and still beat the market by 3.3 percentage points. A small number of hedge funds were also right about betting on JFU as the stock returned 28.6% since the end of the first quarter (through 6/11) and outperformed the market by an even larger margin.
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Disclosure: None. This article was originally published at Insider Monkey.