Here is What Hedge Funds Think About Ocean Rig UDW Inc (NASDAQ:ORIG)

A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Ocean Rig UDW Inc (NASDAQ:ORIG).

Ocean Rig UDW Inc (NASDAQ:ORIG) shareholders have witnessed an increase in support from the world’s most elite money managers of late. There were 28 hedge funds long the stock at the end of the third quarter, up by one from the previous quarter. The number of shareholders the company had in the third quarter was not even close for the company to be included in the list of 30 most popular stocks among hedge funds in Q3 of 2018. So, what does that mean exactly? That you shouldn’t include it in your portfolio because it wasn’t one of the stock hedge funds were piling on in the third quarter? Absolutely not. It is necessary to conduct more research about the company, and also to check how popular the company was when compared to similarly valued companies. Hence, we continue our analysis.

In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey’s flagship best performing hedge funds strategy returned 17.4% year to date and outperformed the market by more than 14 percentage points this year.

Read More Here...

Bookmark the permalink.