In this article, we will take a look at Ken Fisher’s 5 new stock picks. To see more such companies, go directly to Ken Fisher’s 12 New Stock Picks.
5. H World Group Limited
Ken Fisher’s Stake: $1,000,000
China-based hotel management company H World Group Limited has seen a 12% increase in its share price over the past one year. Ken Fisher’s hedge fund bought a $1 million stake in the company during the second quarter. In July the company posted numbers for April, May, and June. According to the data, the company saw recovery of 127%, 115%, and 123% of the 2019 levels, respectively.
As of the end of the second quarter of 2023, 31 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in H World. The biggest stakeholder of the company during this period was Jean-Marie Eveillard’s First Eagle Investment Management with a $905 million stake in the company.
4. Scholar Rock Holding Corporation (NASDAQ:SRRK)
Ken Fisher’s Stake: $1,063,000
Massachusetts-based biopharmaceutical company Scholar Rock Holding Corporation (NASDAQ:SRRK) ranks 4th in our list of the top new stocks bought by Ken Fisher during the second quarter of 2023. Ken Fisher’s hedge fund bought a $1.1 million stake in Scholar Rock Holding Corporation (NASDAQ:SRRK). Earlier in August Scholar Rock Holding Corporation (NASDAQ:SRRK) posted Q2 results.
GAAP EPS in the quarter came in at -$0.47 beating estimates by $0.09.
As of the end of the second quarter of 2023, 16 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Scholar Rock Holding Corporation (NASDAQ:SRRK). The biggest stakeholder of Scholar Rock Holding Corporation (NASDAQ:SRRK) was Srini Akkaraju and Michael Dybbs’s Samsara BioCapital which owns a $35 million stake in the company.
3. First Financial Corp. (NASDAQ:THFF)
Ken Fisher’s Stake: $1,100,000
First Financial Corp. (NASDAQ:THFF) was one of the new additions to Ken Fisher’s portfolio during the second quarter. Ken Fisher’s hedge fund bought a $1.1 million stake in the company during the period. First Financial Corp. (NASDAQ:THFF) has lost about 22% over the past one year. In July the company posted Q2 results. Adjusted EPS in the period came in at $1.33 beating estimates by $0.11.
As of the end of the second quarter of 2023, 14 hedge funds tracked by Insider Monkey had stakes in First Financial Corp. (NASDAQ:THFF). The biggest hedge fund stakeholder of First Financial Corp. (NASDAQ:THFF) was John K. Schneider’s Rhino Investment Partners which owns a $7.2 million stake in the company.
2. IDEAYA Biosciences, Inc. (NASDAQ:IDYA)
Ken Fisher’s Stake: $1,145,000
IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shares have gained about 155% over the past one year. Ken Fisher’s hedge fund opened a new position valued at $1.15 million in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) during the second quarter. Earlier in August IDEAYA Biosciences, Inc. (NASDAQ:IDYA) posted second quarter results. GAAP EPS in the quarter came in at -$0.50 beating estimates by $0.06. Revenue in the quarter fell 39.4% year over year to $3.54 million, missing estimates by $0.86 million.
Out of the 910 hedge funds tracked by Insider Monkey, 26 hedge funds reported owning stakes in IDEAYA Biosciences, Inc. (NASDAQ:IDYA) as of the end of the June quarter. The biggest hedge fund stakeholder of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) was Mark Lampert’s Biotechnology Value Fund / BVF Inc. with a stake worth over $134 million.
1. CNB Financial Corporation (NASDAQ:CCNE)
Ken Fisher’s Stake: $1,197,000
CNB Financial Corporation (NASDAQ:CCNE) is yet another banking stock in which Ken Fisher’s hedge fund opened a new position during the June quarter. CNB Financial Corporation (NASDAQ:CCNE) shares have lost about 33% over the past one year. Ken Fisher’s fund might have taken this as a buying opportunity as it bought about $1.2 million worth of CNB Financial Corporation (NASDAQ:CCNE) shares during the June quarter.
As of the end of the second quarter of 2023, 11 hedge funds in Insider Monkey’s database of 910 funds reported having stakes in CNB Financial Corporation (NASDAQ:CCNE).
CNB Financial Corporation (NASDAQ:CCNE) is a dividend-paying stock. Earlier in August the company declared a $0.175 per share quarterly dividend, in line with previous. Forward dividend yield came in at 3.49%.
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