Of the thousands of stocks that are currently traded in the market, it is difficult to identify which ones will truly generate strong returns. Hedge funds and institutional investors spend millions of dollars on MBA and PhD analysts who are industry experts and well connected to other industry insiders and the media. Individual investors can rely on hedge funds employing these talents and can thus benefit from their vast resources and knowledge. We analyze quarterly 13F deposits from nearly 900 hedge funds, and by examining the smart money sentiment that surrounds a stock, we can determine if it has the potential to beat the market in the long term. Therefore, let’s take a closer look at what PTC Inc’s Smart Money thinks (NASDAQ:CTP).

PTC Inc (NASDAQ:CTP) has seen a decrease in enthusiasm for smart money in recent months. PTC Inc (NASDAQ:CTP) appeared in 33 hedge fund portfolios at the end of March. The record for this statistic is 46. Our calculations also showed that PTC is not among the 30 most popular stocks among hedge funds (click for Q1 ranking).

The reputation of hedge funds as savvy investors has been tarnished over the past decade, as their hedged returns could not keep up with the unhedged returns of stock indexes. Hedge funds have over $ 3.5 trillion in assets under management, so you can’t expect all of their portfolios to beat the market with significant margins. Our research identified in advance a select group of hedge funds that have outperformed S&P 500 ETFs by more than 115 percentage points since March 2017 (see details here). So you can still find a lot of gems by following the movements of hedge funds today.

David S. Winter of 40 North Management

At Insider Monkey, we scour multiple sources to uncover the next big investing idea. For example, lithium mining is one of the fastest growing industries right now, so we’re looking at stock locations like this. emerging lithium stocks. We go through lists like the 10 best EV stocks to choose the next Tesla which will offer a 10x return. Even though we only recommend positions in a tiny fraction of the companies we analyze, we check as many stocks as possible. We read letters from hedge fund investors and listen to equity pitches at hedge fund conferences. You can subscribe to our free daily newsletter at our home page. Now let’s take a look at the key hedge fund action around PTC Inc (NASDAQ:CTP).

The story continues

Do hedge funds think PTC is a good stock to buy now?

At the end of the first quarter, a total of 33 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -13% from the previous quarter. Below you can see how hedge fund sentiment towards PTC has developed over the past 23 quarters. So let’s take a look at which hedge funds were among the top stock holders and which hedge funds were making big moves.

According to public data on hedge funds and institutional investor holdings compiled by Insider Monkey, 40 North Management by David S. Winter and David J. Millstone holds the largest position in PTC Inc (NASDAQ: PTC), worth of nearly 439.5 million% of its total portfolio 13F. In second place, Impax Asset Management, led by Ian Simm, holds a position of $ 427.6 million; the fund has 2.2% of its 13F portfolio invested in the stock. Some other peers with similar optimism include Panayotis Takis Sparaggis Alkeon Capital Management, the Praesidium Investment Management Company of Kevin Oram and Peter Uddo and the Select Equity Group of Robert Joseph Caruso. In terms of the portfolio weights assigned to each position, Praesidium Investment Management Company assigned the greatest weight to PTC Inc (NASDAQ: PTC), approximately 13.67% of its 13F portfolio. 40 North direction is also relatively very bullish on the stock, allocating 12.14% of its 13F equity portfolio to PTC.

Due to the fact that PTC Inc (NASDAQ: PTC) has experienced bearish sentiment from the entire hedge fund industry, it is safe to say that there is a certain “level” of fund managers who have abandoned all of their holdings before the second quarter. Curiously, Barry Lebovits and Joshua Kuntz Capital of the stream sold the largest stake of 750 funds monitored by Insider Monkey, totaling around $ 130.7 million in shares. the Brennan Diaz fund, Fernbridge Capital Management, also bade farewell to his stock, worth around $ 32.2 million. These movements are important to note, as the overall interest of hedge funds was reduced by 5 funds before the second quarter.

Now let’s review hedge fund activity in other stocks similar to PTC Inc (NASDAQ: PTC). We’ll take a look at Huntington Bancshares Incorporated (NASDAQ:HBAN), Clarivate Plc (NYSE:CLVT), HEICO Corporation (NYSE:HE I), Omnicom Group Inc. (NYSE:MOC), IDEX Corporation (NYSE:IEX), Pembina Pipeline Corp (NYSE:AAP) and Boston Properties, Inc. (NYSE:BXP). All the market caps of these stocks are similar to the market cap of PTC.

[table] Ticker, number of HF with positions, total value of HF positions (x1000), change of HF position HBAN, 27 154261, -2 CLVT, 26.4720472, -14 HEI, 45.638128.1 OMC, 33.470825, – 1 IEX, 19.843312, -10 PBA, 15.74858,2 BXP, 27.1058389, -3 Average. 27.4.1137178, -3.9 [/table]

See the table here if you have formatting problems.

As you can see, these stocks had an average of 27.4 hedge funds with bullish positions and the average amount invested in these stocks was $ 1137 million. That figure was $ 1,770 million in the case of PTC. HEICO Corporation (NYSE:HE I) is the most popular action in this table. On the other hand, Pembina Pipeline Corp (NYSE:AAP) is the least popular with only 15 bullish hedge fund positions. PTC Inc (NASDAQ: PTC) is not the most popular stock in this group, but hedge fund interest is still above average. Our overall hedge fund sentiment score for PTC is 51.5. Stocks with a higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal, but we prefer to spend our time researching the stocks on which hedge funds are accumulating. Our calculations have shown 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 22.8% in 2021 through July 2 and again beat the market by 6 percentage points. Unfortunately, PTC was not as popular as these 5 stocks and hedge funds betting on PTC were disappointed as the stock has returned 4.6% since the end of March (through 7/2) and has underperformed the market. If you want to invest in large cap stocks with huge upside potential, you should check out the top 5 most popular stocks among hedge funds, as many of these stocks have already outperformed the market since 2019.

Receive real-time email alerts: Follow Ptc Inc. (NASDAQ: PTC)

Suggested articles:

Disclosure: none. This article originally appeared on Monkey initiate.