U.S. markets open in 5 hours 46 minutes
  • S&P Futures

    3,245.75
    +7.75 (+0.24%)
     
  • Dow Futures

    26,799.00
    +84.00 (+0.31%)
     
  • Nasdaq Futures

    10,908.75
    +17.00 (+0.16%)
     
  • Russell 2000 Futures

    1,454.90
    +7.90 (+0.55%)
     
  • Crude Oil

    40.47
    +0.16 (+0.40%)
     
  • Gold

    1,878.30
    +1.40 (+0.07%)
     
  • Silver

    23.32
    +0.12 (+0.53%)
     
  • EUR/USD

    1.1681
    +0.0005 (+0.05%)
     
  • 10-Yr Bond

    0.6660
    0.0000 (0.00%)
     
  • Vix

    28.19
    -0.39 (-1.36%)
     
  • GBP/USD

    1.2791
    +0.0039 (+0.31%)
     
  • USD/JPY

    105.3700
    -0.0320 (-0.03%)
     
  • BTC-USD

    10,710.25
    -50.34 (-0.47%)
     
  • CMC Crypto 200

    218.09
    +9.15 (+4.38%)
     
  • FTSE 100

    5,836.79
    +14.01 (+0.24%)
     
  • Nikkei 225

    23,204.62
    +116.80 (+0.51%)
     

If You Own Adient PLC (ADNT) Stock, Should You Sell It Now?

Alex Smith

Greenlight Capital Fund recently released its Q2 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 1.0% for the quarter, underperforming its benchmark, the S&P 500 Index which returned 20.5% in the same quarter. You should check out Greenlight Capital’s top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.

In the said letter, Greenlight Capital highlighted a few stocks and Adient Plc (NYSE:ADNT) is one of them. Adient Plc (NYSE:ADNT) manufactures automotive seating for customers worldwide. Year-to-date, Adient Plc (NYSE:ADNT) stock lost 14.3% and on August 4th it had a closing price of $17.63. Here is what Greenlight Capital said:

"We exited a position in Adient with a 50% loss over two years. The management was well on its way to executing a successful turnaround when COVID-19 hit. The unexpected macro event has clearly impaired the near-term opportunity, so we exited."

Pixabay/Public Domain

In Q1 2020, the number of bullish hedge fund positions on Adient Plc (NYSE:ADNT)  stock decreased by about 11% from the previous quarter (see the chart here), so a number of other hedge fund managers seem to agree with Adient's downside potential. Our calculations showed that Adient Plc (NYSE:ADNT)  isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. Cannabis stocks are roaring back in 2020, so we are checking out this under-the-radar stock. 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. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. You can subscribe to our free enewsletter below to receive our stories in your inbox:


Disclosure: None. This article is originally published at Insider Monkey.