Investment
Hedge Fund Darlings vs. MGIC Investment Corporation (MTG) In 2019 – Yahoo Finance
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Is MGIC Investment Corporation (NYSE:MTG) an outstanding investment today? The smart money is turning bullish. The number of bullish hedge fund positions rose by 4 recently. Our calculations also showed that MTG isn’t among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video at the end of this article for Q2 rankings). MTG was in 39 hedge funds’ portfolios at the end of the third quarter of 2019. There were 35 hedge funds in our database with MTG positions at the end of the previous quarter.” data-reactid=”12″>Is MGIC Investment Corporation (NYSE:MTG) an outstanding investment today? The smart money is turning bullish. The number of bullish hedge fund positions rose by 4 recently. Our calculations also showed that MTG isn’t among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video at the end of this article for Q2 rankings). MTG was in 39 hedge funds’ portfolios at the end of the third quarter of 2019. There were 35 hedge funds in our database with MTG positions at the end of the previous quarter.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="To most shareholders, hedge funds are perceived as unimportant, old investment vehicles of years past. While there are more than 8000 funds trading at present, Our experts choose to focus on the masters of this club, around 750 funds. These money managers oversee bulk of the hedge fund industry's total asset base, and by tracking their finest equity investments, Insider Monkey has come up with several investment strategies that have historically outrun the S&P 500 index. Insider Monkey's flagship short hedge fund strategy outpaced the S&P 500 short ETFs by around 20 percentage points per annum since its inception in May 2014. Our portfolio of short stocks lost 27.8% since February 2017 (through November 21st) even though the market was up more than 39% during the same period. We just shared a list of 7 short targets in our latest quarterly update .” data-reactid=”13″>To most shareholders, hedge funds are perceived as unimportant, old investment vehicles of years past. While there are more than 8000 funds trading at present, Our experts choose to focus on the masters of this club, around 750 funds. These money managers oversee bulk of the hedge fund industry’s total asset base, and by tracking their finest equity investments, Insider Monkey has come up with several investment strategies that have historically outrun the S&P 500 index. Insider Monkey’s flagship short hedge fund strategy outpaced the S&P 500 short ETFs by around 20 percentage points per annum since its inception in May 2014. Our portfolio of short stocks lost 27.8% since February 2017 (through November 21st) even though the market was up more than 39% during the same period. We just shared a list of 7 short targets in our latest quarterly update .
Steven Cohen of Point72 Asset Management
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="We leave no stone unturned when looking for the next great investment idea. For example Discover is offering this insane cashback card, so we look into shorting the stock. One of the most bullish analysts in America just put his money where his mouth is. He says, "I’m investing more today than I did back in early 2009." So we check out his pitch. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. We even check out this option genius’ weekly trade ideas. This December, we recommended Adams Energy as a one-way bet based on an under-the-radar fund manager’s investor letter and the stock already gained 20 percent. With all of this in mind we’re going to go over the new hedge fund action surrounding MGIC Investment Corporation (NYSE:MTG).” data-reactid=”31″>We leave no stone unturned when looking for the next great investment idea. For example Discover is offering this insane cashback card, so we look into shorting the stock. One of the most bullish analysts in America just put his money where his mouth is. He says, “I’m investing more today than I did back in early 2009.” So we check out his pitch. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. We even check out this option genius’ weekly trade ideas. This December, we recommended Adams Energy as a one-way bet based on an under-the-radar fund manager’s investor letter and the stock already gained 20 percent. With all of this in mind we’re going to go over the new hedge fund action surrounding MGIC Investment Corporation (NYSE:MTG).
Hedge fund activity in MGIC Investment Corporation (NYSE:MTG)
At Q3’s end, a total of 39 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 11% from the previous quarter. By comparison, 30 hedge funds held shares or bullish call options in MTG a year ago. With hedgies’ capital changing hands, there exists a few noteworthy hedge fund managers who were upping their stakes significantly (or already accumulated large positions).
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Steve Cohen's Point72 Asset Management has the biggest position in MGIC Investment Corporation (NYSE:MTG), worth close to $100.9 million, corresponding to 0.6% of its total 13F portfolio. The second largest stake is held by AQR Capital Management, managed by Cliff Asness, which holds a $84.8 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other hedge funds and institutional investors that hold long positions consist of Renaissance Technologies, Noam Gottesman’s GLG Partners and Israel Englander’s Millennium Management. In terms of the portfolio weights assigned to each position Almitas Capital allocated the biggest weight to MGIC Investment Corporation (NYSE:MTG), around 2.04% of its 13F portfolio. Factorial Partners is also relatively very bullish on the stock, dishing out 1.75 percent of its 13F equity portfolio to MTG.” data-reactid=”58″>According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Steve Cohen’s Point72 Asset Management has the biggest position in MGIC Investment Corporation (NYSE:MTG), worth close to $100.9 million, corresponding to 0.6% of its total 13F portfolio. The second largest stake is held by AQR Capital Management, managed by Cliff Asness, which holds a $84.8 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other hedge funds and institutional investors that hold long positions consist of Renaissance Technologies, Noam Gottesman’s GLG Partners and Israel Englander’s Millennium Management. In terms of the portfolio weights assigned to each position Almitas Capital allocated the biggest weight to MGIC Investment Corporation (NYSE:MTG), around 2.04% of its 13F portfolio. Factorial Partners is also relatively very bullish on the stock, dishing out 1.75 percent of its 13F equity portfolio to MTG.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="With a general bullishness amongst the heavyweights, specific money managers have jumped into MGIC Investment Corporation (NYSE:MTG) headfirst. Marshall Wace, managed by Paul Marshall and Ian Wace, assembled the biggest position in MGIC Investment Corporation (NYSE:MTG). Marshall Wace had $20.2 million invested in the company at the end of the quarter. Gregg Moskowitz’s Interval Partners also initiated a $6.2 million position during the quarter. The following funds were also among the new MTG investors: Carl Goldsmith and Scott Klein’s Beach Point Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors, and David Andre and Astro Teller’s Cerebellum Capital.” data-reactid=”59″>With a general bullishness amongst the heavyweights, specific money managers have jumped into MGIC Investment Corporation (NYSE:MTG) headfirst. Marshall Wace, managed by Paul Marshall and Ian Wace, assembled the biggest position in MGIC Investment Corporation (NYSE:MTG). Marshall Wace had $20.2 million invested in the company at the end of the quarter. Gregg Moskowitz’s Interval Partners also initiated a $6.2 million position during the quarter. The following funds were also among the new MTG investors: Carl Goldsmith and Scott Klein’s Beach Point Capital Management, John Overdeck and David Siegel’s Two Sigma Advisors, and David Andre and Astro Teller’s Cerebellum Capital.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Let's also examine hedge fund activity in other stocks similar to MGIC Investment Corporation (NYSE:MTG). We will take a look at Blackbaud, Inc. (NASDAQ:BLKB), J2 Global Inc (NASDAQ:JCOM), Spire Inc. (NYSE:SR), and CVR Energy, Inc. (NYSE:CVI). This group of stocks’ market values are similar to MTG’s market value.” data-reactid=”60″>Let’s also examine hedge fund activity in other stocks similar to MGIC Investment Corporation (NYSE:MTG). We will take a look at Blackbaud, Inc. (NASDAQ:BLKB), J2 Global Inc (NASDAQ:JCOM), Spire Inc. (NYSE:SR), and CVR Energy, Inc. (NYSE:CVI). This group of stocks’ market values are similar to MTG’s market value.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position BLKB,12,72983,2 JCOM,18,280780,-6 SR,13,80974,1 CVI,26,3273232,7 Average,17.25,926992,1 [/table]
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="View table here if you experience formatting issues.” data-reactid=”62″>View table here if you experience formatting issues.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="As you can see these stocks had an average of 17.25 hedge funds with bullish positions and the average amount invested in these stocks was $927 million. That figure was $566 million in MTG's case. CVR Energy, Inc. (NYSE:CVI) is the most popular stock in this table. On the other hand Blackbaud, Inc. (NASDAQ:BLKB) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks MGIC Investment Corporation (NYSE:MTG) is more popular among hedge funds. Our calculations showed that top 20 most popular stocks among hedge funds returned 41.1% in 2019 through December 23rd and outperformed the S&P 500 ETF (SPY) by 10.1 percentage points. Hedge funds were also right about betting on MTG, though not to the same extent, as the stock returned 37.4% during the same period and outperformed the market as well. Video: Click the image to watch our video about the top 5 most popular hedge fund stocks.” data-reactid=”63″>As you can see these stocks had an average of 17.25 hedge funds with bullish positions and the average amount invested in these stocks was $927 million. That figure was $566 million in MTG’s case. CVR Energy, Inc. (NYSE:CVI) is the most popular stock in this table. On the other hand Blackbaud, Inc. (NASDAQ:BLKB) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks MGIC Investment Corporation (NYSE:MTG) is more popular among hedge funds. Our calculations showed that top 20 most popular stocks among hedge funds returned 41.1% in 2019 through December 23rd and outperformed the S&P 500 ETF (SPY) by 10.1 percentage points. Hedge funds were also right about betting on MTG, though not to the same extent, as the stock returned 37.4% during the same period and outperformed the market as well. Video: Click the image to watch our video about the top 5 most popular hedge fund stocks.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Disclosure: None. This article was originally published at Insider Monkey.” data-reactid=”76″>Disclosure: None. This article was originally published at Insider Monkey.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Related Content” data-reactid=”77″>Related Content
Investment
Tense diplomatic relations may not impact trade, investment ties between India, Canada: Experts
|
|
NEW DELHI: The tense diplomatic relations between India and Canada are unlikely to impact trade and investments between the two countries as economic ties are driven by commercial considerations, according to experts. Both India and Canada trade in complementary products and do not compete on similar products.
“Hence, the trade relationship will continue to grow and not be affected by day-to-day events,” Global Trade Research Initiative (GTRI) Co-Founder Ajay Srivastava said.
Certain political developments have led to a pause in negotiations for a free trade agreement between the two countries.
On September 10, Prime Minister Narendra Modi conveyed to his Canadian counterpart Justin Trudeau India’s strong concerns about the continuing anti-India activities of extremist elements in Canada that were promoting secessionism, inciting violence against its diplomats and threatening the Indian community there.
India on Tuesday announced the expulsion of a Canadian diplomat hours after Canada asked an Indian official to leave that country, citing a “potential” Indian link to the killing of a Khalistani separatist leader in June.
Srivastava said these recent events are unlikely to affect the deep-rooted people-to-people connections, trade, and economic ties between the two nations.
Bilateral trade between India and Canada has grown significantly in recent years, reaching USD 8.16 billion in 2022-23.
India’s exports (USD 4.1 billion) to Canada include pharmaceuticals, gems and jewellery, textiles, and machinery, while Canada’s exports to India (USD 4.06 billion) include pulses, timber, pulp and paper, and mining products.
On investments, he said that Canadian pension funds will continue investing in India on grounds of India’s large market and good return on money invested.
Canadian pension funds, by the end of 2022, had invested over USD 45 billion in India, making it the fourth-largest recipient of Canadian FDI in the world.
The top sectors for Canadian pension fund investment in India include infrastructure, renewable energy, technology, and financial services.
Mumbai-based exporter and Chairman of Technocraft Industries Sharad Kumar Saraf said the present frosty relations between India and Canada are certainly a cause for concern.
“However, the bilateral trade is entirely driven by commercial considerations. Political turmoil is of a temporary nature and should not be a reason to affect trade relations,” Saraf said.
He added that even with China, India has acrimonious relations but bilateral trade continues to remain healthy.
“In fact, bilateral trade is an effective tool to improve political relations. India must make special efforts to increase our bilateral trade with Canada,” Saraf said.
India and Canada have a strong education partnership. There are over 200 educational partnerships between Indian and Canadian institutions.
In addition, over 3,19,000 Indian students are enrolled in Canadian institutions, making them the largest international student cohort in Canada, according to GTRI.
According to the Canadian Bureau for International Education (CBIE), Indian students contributed USD 4.9 billion to the Canadian economy in 2021.
Indian students are the largest international student group in Canada, accounting for 20 per cent of all international students in 2021.
Benefits of educational partnerships are mutual and hence the current situation may have no impact on the relationship, Srivastava said.
|
|
Apple supplier Foxconn aims to double its workforce and investment in India by next year, a company executive said on Sunday.
Taiwan-based Foxconn, the world’s largest contract manufacturer of electronics, has rapidly expanded its presence in India by investing in manufacturing facilities in the south of the country as the company seeks to move away from China.
V Lee, Foxconn’s representative in India, in a LinkedIn post to mark Indian Prime Minister Narendra Modi’s 73rd birthday, said the company was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time next year.
He did not give more details.
Foxconn already has an iPhone factory employing 40,000 people in the state of Tamil Nadu.
In August, the state of Karnataka said the firm will invest US$600 million for two projects to make casing components for iPhones and chip-making equipment.
Advertisement
The company’s Chairman Liu Young-way said in an earnings briefing last month that he sees a lot of potential in India, adding: “several billion dollars in investment is only a beginning”.
Taiwan election: Foxconn’s Terry Gou taps star-powered running mate
Last month, Foxconn’s billionaire founder Terry Gou said he would run for the Taiwanese presidency in next year’s election, as an independent candidate.
He said the ruling and independence-leaning Democratic Progressive Party (DPP) was unable to offer a bright future for the island and left Foxconn’s board following his decision to run.
The firm operates the world’s largest iPhone plant, in the city of Zhengzhou in Henan province.
|
|
Foxconn, Taiwan-based Apple supplier, has said that they are planning to double their investment and workforce in India within the next twelve months, according to V Lee’s LinkedIn post on the occasion of Prime Minister Narendra Modi’s 73rd birthday.
Taiwan-based Foxconn, the world’s largest contract manufacturer of electronics, has rapidly expanded its presence in India by investing in manufacturing facilities in the south of the country as the company seeks to move away from China.
Notably, Foxconn already has an iPhone factory in the state of Tamil Nadu, which employs 40,000 people.
V Lee, Foxconn‘s representative in India, in a LinkedIn post to mark Indian Prime Minister Narendra Modi’s 73rd birthday, said the company was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time next year.
In August this year, Karnataka governments had said that Foxconn has planned to invest $600 million for two projects in the state to make casing components for iPhones and chip-making equipment.
Earlier this month, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn) had said, ‘India will be an important country in terms of manufacturing in future’.
In the past, it took 30 years to build the entire supply chain ecosystem in China, he noted, adding that while it will take an “appropriate amount of time in India” and the process will be shorter given the experience. The environment too is not quite the same, he said pointing to the advent of new technologies like AI and generative AI.
Meanwhile, Apple Inc. has announced plans to make the India-built iPhone 15 available in the South Asian country and some other regions on the global sales debut day, according to a Bloomberg report.
While the vast majority of iPhone 15s will come from China, that would be the first time a latest generation, India-assembled device is available on the first day of sale, they said, asking not to be identified as the matter is private.
Apple introduced the iPhone 15, updated watches and AirPods at a gala event at its US headquarters. Sales of new products begin typically around 10 days after the unveiling.
Finding Your Perfect Match: The Best Ways to Choose an Online Sportsbook
Howard Anglin: The Conservatives are cruising and the media can't hide its disappointment – The Hub
As LeBron James enters Year 21, the theme of Lakers media day was passing the torch and sharing the load
-
Business20 hours ago
Metro Vancouver workers poised to strike as soon as Monday, union says
-
News23 hours ago
Amid India-Canada row, Elon Musk accuses Canadian PM Justin Trudeau of ‘crushing free speech’; here’s why
-
Real eState22 hours ago
Swedish Home Prices Fall Again in September, Down 13% From Peak
-
Business17 hours ago
Alleged mortgage fraud victims still not off the hook for payments after criminal charges laid
-
Art16 hours ago
One family’s battle to be reunited with art looted by the Nazis – CNN
-
Economy11 hours ago
Bill Ackman says the economy is starting to slow and the Fed is likely done hiking
-
Business19 hours ago
Ontario’s minimum wage increase impact upon workers
-
Economy10 hours ago
China’s Precarious Economic Recovery Signals More Support Needed