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Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out what the billionaire investors and hedge funds think of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC).
WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) was in 56 hedge funds' portfolios at the end of September. The all time high for this statistic was previously 52. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. WSC investors should be aware of an increase in hedge fund interest of late. There were 52 hedge funds in our database with WSC positions at the end of the second quarter. Our calculations also showed that WSC isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings).
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium prices have more than doubled over the past year, so we go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. Keeping this in mind we're going to take a gander at the fresh hedge fund action regarding WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC).
Robert Pohly of Samlyn Capital
Do Hedge Funds Think WSC Is A Good Stock To Buy Now?
Heading into the fourth quarter of 2021, a total of 56 of the hedge funds tracked by Insider Monkey were long this stock, a change of 8% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards WSC over the last 25 quarters. So, let's examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Among these funds, Eminence Capital held the most valuable stake in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC), which was worth $270.9 million at the end of the third quarter. On the second spot was Broad Bay Capital which amassed $137.2 million worth of shares. Samlyn Capital, Point State Capital, and Permian Investment Partners were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Clearfield Capital allocated the biggest weight to WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC), around 22.04% of its 13F portfolio. Broad Bay Capital is also relatively very bullish on the stock, designating 17 percent of its 13F equity portfolio to WSC.
As one would reasonably expect, some big names were breaking ground themselves. Samlyn Capital, managed by Robert Pohly, initiated the largest position in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC). Samlyn Capital had $132.6 million invested in the company at the end of the quarter. Joseph Samuels's Islet Management also initiated a $48.9 million position during the quarter. The following funds were also among the new WSC investors: Richard Driehaus's Driehaus Capital, Ben Levine, Andrew Manuel and Stefan Renold's LMR Partners, and Louis Bacon's Moore Global Investments.
Let's also examine hedge fund activity in other stocks - not necessarily in the same industry as WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) but similarly valued. We will take a look at Pure Storage, Inc. (NYSE:PSTG), Pinnacle Financial Partners, Inc. (NASDAQ:PNFP), Omega Healthcare Investors Inc (NYSE:OHI), Janus Henderson Group plc (NYSE:JHG), Stifel Financial Corp. (NYSE:SF), Donaldson Company, Inc. (NYSE:DCI), and Workiva Inc (NYSE:WK). This group of stocks' market values are similar to WSC's market value.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position PSTG,28,714127,-3 PNFP,20,68981,7 OHI,15,112812,-5 JHG,24,1372412,2 SF,20,443560,-4 DCI,25,247320,4 WK,23,582753,2 Average,22.1,505995,0.4 [/table]
View table here if you experience formatting issues.
As you can see these stocks had an average of 22.1 hedge funds with bullish positions and the average amount invested in these stocks was $506 million. That figure was $1968 million in WSC's case. Pure Storage, Inc. (NYSE:PSTG) is the most popular stock in this table. On the other hand Omega Healthcare Investors Inc (NYSE:OHI) is the least popular one with only 15 bullish hedge fund positions. Compared to these stocks WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) is more popular among hedge funds. Our overall hedge fund sentiment score for WSC is 89. 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. Our calculations showed 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 returned 28.6% in 2021 through November 30th but still managed to beat the market by 5.6 percentage points. Hedge funds were also right about betting on WSC as the stock returned 20.1% since the end of September (through 11/30) and outperformed the market by an even larger margin. Hedge funds were clearly right about piling into this stock relative to other stocks with similar market capitalizations.
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Disclosure: None. This article was originally published at Insider Monkey.