Top 5 Stock Picks of Cinctive Capital Management

2. Antero Midstream Corporation (NYSE:AM)

Cinctive Capital Management’s Stake Value: $37,696,000
Percentage of Cinctive Capital Management’s 13F Portfolio: 1.4%
Number of Hedge Fund Holders: 17

Antero Midstream Corporation (NYSE:AM) is an oil and gas transportation and storage company that operates via its Gathering and Processing and Water Handling divisions. With about 1.95 million shares valued at $21.2 million, Shah Capital Management is a prominent shareholder of Antero Midstream Corporation (NYSE:AM) as of Q1 2022.

On July 20, Barclays analyst Marc Solecitto reduced his price objective on Antero Midstream Corporation (NYSE:AM) to $9 from $10 and maintained an ‘Underweight’ rating on the stock. The analyst predicted strong Q2 midstream earnings and believed the business would do better than other energy subsectors under challenging trade conditions.

On July 27, Antero Midstream Corporation (NYSE:AM) posted earnings for the second quarter, reporting earnings per share of $0.20, missing market estimates by $0.03. In addition, revenue for the quarter was $228.91 million, below the analysts’ forecast by $9.37 million.

17 hedge funds reported having bullish bets on Antero Midstream Corporation (NYSE:AM) as of the end of the first quarter, with aggregate stakes worth $115.89 million. According to its 13F filings for the first quarter of 2022, Cinctive Capital Management held over 3.47 million shares of Antero Midstream Corporation (NYSE:AM), amounting to more than $37.70 million and representing 1.4% of the fund’s 13F portfolio. In addition, the hedge fund increased its stake in the firm by 11% during Q1.