[ad_1]
As the market rallies, investors need to be careful they don’t step into overcrowded trades, according to Morgan Stanley. The S & P 500 is up more than 8% for November, putting it on track for its biggest monthly gain since July 2022. However, Morgan Stanley warned hedge funds are crowding into certain names, raising the possibility of volatile moves in the near term. “Crowded trades come with the risk of overvaluation and increased volatility as it may be more difficult to attract the marginal investor, while avoiding overcrowded stocks can provide investors with an opportunity to capture unrecognized value when paired with strong fundamentals,” analyst Todd Castagno wrote in a Wednesday note. The bank screened for stocks hedge funds are partial toward the most within the Russell 1000 index, based off regulatory filings. Specifically, Morgan Stanley looked for companies with the highest percentage of their float being owned by the largest hedge funds based on assets under management. Car rental company Avis is the premier hedge fund play overall on the list, owning more than 50.3% of the company’s float. Avis has ticked up roughly 10% this month. The company beat third-quarter earnings estimates earlier in November but reported slightly lower-than-expected revenue. CAR YTD mountain Avis stock in 2023 Planet Fitness has also drawn the attention of hedge funds, owning 14% of the company’s float. Shares of the gym operator have pulled back roughly 15% in 2023. PLNT YTD mountain Planet Fitness stock in 2023 Third-quarter results that topped Wall Street estimates helped boost the stock in November. Month to date, shares have surged 22%. Some analysts have also opined that the gym stock could be a key beneficiary of the rise of GLP-1 drugs . Ride sharing company Lyft also made the list. Morgan Stanley’s data shows hedge funds are owners more than 13% of the firm’s float. Lyft, alongside peer ride sharing company Uber, recently settled litigation over driver allegations of wage theft, and also agreed to amend its payment structure and benefits package. LYFT YTD mountain Lyft stock YTD
[ad_2]
Source link
Batman138 Bro138 Dolar138 Gas138 Gudang138 Hoki99 Ligaciputra Panen77 Zeus138 Kilat77 Planet88 Gaspol168 Sikat88 Rupiah138 Garuda138 Gacor77 Roma77 Sensa138 Panen138 Slot138 Gaco88 Elanggame Candy99 Cair77 Max7 Best188 Space77 Sky77 Luxury777 Maxwin138 Bosswin168 Cocol88 Slot5000 Babe138 Luxury138 Jet77 Bonanza138 Bos88 Aquaslot Taktik88 Lord88 Indobet Slot69 Paus138 Tiktok88 Panengg Bingo4d Stars77 77dragon Warung168 Receh88 Online138 Tambang88 Asia77 Klik4d Bdslot88 Gajah138 Bigwin138 Markas138 Yuk69 Emas168 Key4d Harta138 Gopek178 Imbaslot Imbajp Deluna4d Luxury333 Pentaslot Luxury111 Cair77 Gboslot Pandora188 Olxtoto Slotvip Eslot Kuy138 Imbagacor Bimabet