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Originally Posted by Nuckle
What does "current hedge of $26.50" mean? Is that the targeted share price by the end of the year?
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It basically means that there are groups of investors with a huge amount of funds to drop into places they feel are undervalued to make money for their "higher end" clients who pay them to manage their portfolio.
Below is what I'm referencing. The big guys are starting to take notice!
Hedge fund activity in Centennial Resource Development, Inc. (NASDAQ:CDEV)
Heading into the first quarter of 2020, a total of 29 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 4% from the third quarter of 2019. Below, you can check out the change in hedge fund sentiment towards CDEV over the last 18 quarters.
With the smart money's positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were increasing their stakes significantly (or already accumulated large positions) in this stock.