The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F filings disclosed the funds’ positions on September 30th, about a month before the elections. We at Insider Monkey have made an extensive database of more than 817 of those established hedge funds and famous value investors’ filings. In this article, we analyze how these elite funds and prominent investors traded Americas Gold and Silver Corporation (NYSE:USAS) based on those filings.
Is Americas Gold and Silver Corporation (NYSE:USAS) undervalued? The best stock pickers were selling. The number of bullish hedge fund positions shrunk by 2 in recent months. Americas Gold and Silver Corporation (NYSE:USAS) was in 4 hedge funds’ portfolios at the end of the third quarter of 2020. The all time high for this statistics is 8. Our calculations also showed that USAS isn’t among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video for a quick look at the top 5 stocks).Video: Watch our video about the top 5 most popular hedge fund stocks.
So, why do we pay attention to hedge fund sentiment before making any investment decisions? Our research has shown that hedge funds’ small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 66 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter. Even if you aren’t comfortable with shorting stocks, you should at least avoid initiating long positions in stocks that are in our short portfolio.
At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website. Now let’s check out the recent hedge fund action regarding Americas Gold and Silver Corporation (NYSE:USAS).
At Q3’s end, a total of 4 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -33% from the second quarter of 2020. Below, you can check out the change in hedge fund sentiment towards USAS over the last 21 quarters. With the smart money’s capital changing hands, there exists a few key hedge fund managers who were upping their stakes significantly (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Eric Sprott’s Sprott Asset Management has the biggest position in Americas Gold and Silver Corporation (NYSE:USAS), worth close to $4.7 million, amounting to 0.2% of its total 13F portfolio. Sitting at the No. 2 spot is CQS Cayman LP, managed by Michael Hintze, which holds a $1.3 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Other peers that are bullish consist of Donald Sussman’s Paloma Partners, Noam Gottesman’s GLG Partners and . In terms of the portfolio weights assigned to each position Sprott Asset Management allocated the biggest weight to Americas Gold and Silver Corporation (NYSE:USAS), around 0.19% of its 13F portfolio. CQS Cayman LP is also relatively very bullish on the stock, dishing out 0.17 percent of its 13F equity portfolio to USAS.
Judging by the fact that Americas Gold and Silver Corporation (NYSE:USAS) has experienced bearish sentiment from the smart money, we can see that there lies a certain “tier” of fund managers that elected to cut their entire stakes last quarter. It’s worth mentioning that John Overdeck and David Siegel’s Two Sigma Advisors dumped the largest position of the 750 funds monitored by Insider Monkey, totaling about $1 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dropped about $0.4 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 2 funds last quarter.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Americas Gold and Silver Corporation (NYSE:USAS) but similarly valued. These stocks are OneWater Marine Inc. (NASDAQ:ONEW), Del Taco Restaurants Inc (NASDAQ:TACO), Ares Commercial Real Estate Corp (NYSE:ACRE), Noodles & Co (NASDAQ:NDLS), Oxford Immunotec Global PLC (NASDAQ:OXFD), GTT Communications Inc (NYSE:GTT), and Innate Pharma S.A. (NASDAQ:IPHA). This group of stocks’ market valuations are closest to USAS’s market valuation.Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position ONEW 11 38634 6 TACO 15 21195 3 ACRE 9 24591 -1 NDLS 19 67028 1 OXFD 20 136176 2 GTT 9 87069 0 IPHA 2 1248 -1 Average 12.1 53706 1.4
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As you can see these stocks had an average of 12.1 hedge funds with bullish positions and the average amount invested in these stocks was $54 million. That figure was $6 million in USAS’s case. Oxford Immunotec Global PLC (NASDAQ:OXFD) is the most popular stock in this table. On the other hand Innate Pharma S.A. (NASDAQ:IPHA) is the least popular one with only 2 bullish hedge fund positions. Americas Gold and Silver Corporation (NYSE:USAS) is not the least popular stock in this group but hedge fund interest is still below average. Our overall hedge fund sentiment score for USAS is 23.6. Stocks with 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 negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. Our calculations showed that top 20 most popular stocks among hedge funds returned 41.3% in 2019 and outperformed the S&P 500 ETF (SPY) by 10 percentage points. These stocks gained 30.7% in 2020 through November 27th and surpassed the market again by 16.1 percentage points. Unfortunately USAS wasn’t nearly as popular as these 20 stocks (hedge fund sentiment was quite bearish); USAS investors were disappointed as the stock returned 2.3% since the end of September (through 11/27) and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 20 most popular stocks among hedge funds as most of these stocks already outperformed the market in 2020.Follow Americas Gold And Silver Corp (NYSE:USAS) Follow Americas Gold And Silver Corp (NYSE:USAS)
Disclosure: None. This article was originally published at Insider Monkey.
BRASILIA, Nov 25 (Reuters) - The Americas reported more than 1.5 million cases of COVID-19 in the last 7 days, the highest weekly number since the start of the coronavirus pandemic, the World Health Organization regional branch PAHO said on Wednesday.
The rapid surge of infections in the United States continues and cases have accelerated in countries of North, Central and South America, PAHO said. In Canada, infections are rising particularly among the elderly and indigenous communities, PAHO Assistant Director Jarbas Barbosa said. (Reporting by Anthony Boadle)
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage4.1 Market Definition4.2 Base Year4.3 Scope of The Study4.4 Market Segments
5 Report Assumptions & Caveats5.1 Key Caveats5.2 Currency Conversion5.3 Market Derivation
6 Market at a Glance
7 Introduction7.1 Impact of COVID-19 on Data Center Market7.2 Data Center Site Selection Criteria7.3 Electricity Pricing Across Major Data Center Locations
8 Market Opportunities & Trends8.1 Increased Renewable Energy Adoption Among Colocation Providers8.2 M&As To Improve Colocation Market Share8.3 Growing Rack Power Density8.4 Increasing Demand For Edge Data Centers8.5 Growing Adoption Of Lithium-Ion Batteries & Fuel Cells
9 Market Growth Enablers9.1 Rising Hyperscale Deployments By Colocation Providers9.2 Cloud Computing & Connectivity, And Hybrid Infrastructure Services Fuel Colocation Demand9.3 Increasing Demand For Colocation Services9.4 Tax Incentives Save Colocation Opex & Customer Costs9.5 Construction of Green Data Centers
10 Market Restraints10.1 Location Constraints for Data Center Construction10.2 Increased Carbon Emissions from Data Centers10.3 Data Center Power Consumption Increases OPEX10.4 Carrier Neutrality in LA Lack Multiple Fiber Connections10.5 Increasing Water Consumption By Data Centers
11 Market Landscape11.1 Market Overview11.2 Investment: Market Size & Forecast11.3 Colocation Investment By Area11.4 Colocation Investment By Power Capacity11.5 Colocation Revenue: Market Size & Forecast11.6 Five Forces Analysis
12 Colocation Services12.1 Market Snapshot & Growth Engine12.2 Market Overview12.3 Retail Colocation12.4 Wholesale Colocation
13 Infrastructure13.1 Market Snapshot & Growth Engine13.2 Market Overview13.3 Electrical Infrastructure13.4 Mechanical Infrastructure13.5 General Construction
14 Electrical Infrastructure14.1 Market Snapshot & Growth Engine14.2 UPS Systems14.3 Generators14.4 Transfer Switches & Switchgear14.5 Power Distribution Units14.6 Other Electrical Infrastructure
15 Mechanical Infrastructure15.1 Market Snapshot & Growth Engine15.2 Cooling Systems15.3 Racks15.4 Other Mechanical Infrastructure
16 Cooling Systems16.1 Market Snapshot & Growth Engine16.2 CRAC & CRAH Units16.3 Chiller Units16.4 Cooling Towers & Dry Coolers16.5 Economizers & Evaporative Coolers16.6 Other Cooling Units
17 Cooling Technique17.1 Market Snapshot & Growth Engine17.2 Air-Based Cooling Techniques17.3 Liquid-Based Cooling Techniques
18 General Construction18.1 Market Snapshot & Growth Engine18.2 Building Development18.3 Installation & Commissioning Services18.4 BUILDING DESIGN18.5 PHYSICAL SECURITY18.6 DCIM/BMS
19 Tier Standards19.1 Market Snapshot & Growth Engine19.2 Overview Of Tier Standards19.3 TIER I & II19.4 TIER III19.5 TIER IV
20 Geography20.1 Market Snapshot & Growth Engine
21 North America21.1 Investment: Market Snapshot & Growth Engine21.2 Colocation Revenue: Market Snapshot & Growth Engine21.1 Infrastructure Investment: Snapshot & Growth Engine21.2 Area: Snapshot & Growth Engine21.3 Power Capacity: Snapshot & Growth Engine21.4 Market Overview21.5 Investment21.6 Area21.7 Power Capacity21.8 Support Infrastructure21.9 Colocation Revenue: Market Size & Forecast21.10 US21.11 Canada
22 Latin America22.1 Investment: Market Snapshot & Growth Engine22.2 Colocation Revenue: Market Snapshot & Growth Engine22.3 Infrastructure Investment: Snapshot & Growth Engine22.4 Area: Snapshot & Growth Engine22.5 Power Capacity: Snapshot & Growth Engine22.6 Market Overview22.7 Investments22.8 Area22.9 Power Capacity22.10 Support Infrastructure22.11 Colocation Revenue: Market Size & Forecast22.12 Brazil22.13 Other Latin American Countries
23 Competitive Landscape23.1 Market Share By Investment23.2 Market Share By Investment Area23.3 Market Share By Investment Power Capacity23.4 Market Share By Colocation Revenue
24 Prominent Data Center Colocation Providers
25 Other Prominent Colocation Providers & Investors
26 New Entrants in Colocation Market
27 Report Summary27.1 Key Takeaways
28 Quantitative Summary28.1 Data Center Colocation Market in Americas28.2 Geography28.3 North America28.4 US28.5 Canada28.6 Latin America28.7 Brazil28.8 Other Latin American Countries
29 Appendix29.1 Abbreviations
For more information about this report visit https://www.researchandmarkets.com/r/j1ochp
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Research and MarketsLaura Wood, Senior Managerpress@researchandmarkets.com
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