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 Nord Anglia Education Inc (NYSE:NORD) .
Is Nord Anglia Education Inc (NYSE:NORD) worth your attention right now? The best stock pickers are altogether betting on the stock. The number of long hedge fund positions moved up by 1 in recent months. There were 6 hedge funds in our database with NORD positions at the end of the previous quarter. At the end of this article we will also compare NORD to other stocks including Tenet Healthcare Corp (NYSE:THC), Pegasystems Inc. (NASDAQ:PEGA), and Inovalon Holdings Inc (NASDAQ:INOV) to get a better sense of its popularity.
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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Keeping this in mind, let’s take a gander at the fresh action encompassing Nord Anglia Education Inc (NYSE:NORD).
Hedge fund activity in Nord Anglia Education Inc (NYSE:NORD)
At the end of the third quarter, a total of 7 of the hedge funds tracked by Insider Monkey held long positions in this stock, growth of 17% from one quarter earlier. The graph below displays the number of hedge funds with bullish position in NORD over the last 5 quarters. So, let’s find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
When looking at the institutional investors followed by Insider Monkey, Stockbridge Partners, led by Sharlyn C. Heslam, holds the most valuable position in Nord Anglia Education Inc (NYSE:NORD). Stockbridge Partners has a $108.6 million position in the stock, comprising 5.2% of its 13F portfolio. Coming in second is Abdiel Capital Advisors, led by Colin Moran, holding a $19.5 million position; the fund has 5.7% of its 13F portfolio invested in the stock. Other peers that are bullish consist of Matthew A. Weatherbie’s Weatherbie Capital, D E Shaw, one of the largest hedge funds in the world, and Richard Driehaus’ Driehaus Capital. 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.
Now, specific money managers have been driving this bullishness. Renaissance Technologies, founded by Jim Simons, assembled the most outsized position in Nord Anglia Education Inc (NYSE:NORD). Renaissance Technologies had $1.7 million invested in the company at the end of the quarter. Warren Lammert’s Granite Point Capital also initiated a $1 million position during the quarter.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Nord Anglia Education Inc (NYSE:NORD) but similarly valued. We will take a look at Tenet Healthcare Corp (NYSE:THC), Pegasystems Inc. (NASDAQ:PEGA), Inovalon Holdings Inc (NASDAQ:INOV), and Dana Holding Corporation (NYSE:DAN). This group of stocks’ market values resemble NORD’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| THC | 39 | 759241 | 0 |
| PEGA | 16 | 223417 | -4 |
| INOV | 4 | 2747 | -2 |
| DAN | 26 | 381367 | -1 |
As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $342 million. That figure was $147 million in NORD’s case. Tenet Healthcare Corp (NYSE:THC) is the most popular stock in this table. On the other hand Inovalon Holdings Inc (NASDAQ:INOV) is the least popular one with only 4 bullish hedge fund positions. Nord Anglia Education Inc (NYSE:NORD) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard THC might be a better candidate to consider taking a long position in.
Disclosure: None