Published on 13 Jan 2022 on Insider Monkey via Yahoo Finance

Is ACV Auctions Inc. (ACVA) Going to Burn These Hedge Funds?

As we already know from media reports and hedge fund investor letters, hedge funds delivered their best returns in a decade. Most investors who decided to stick with hedge funds after a rough 2018 recouped their losses by the end of the fourth quarter of 2019. A significant number of hedge funds continued their strong performance in 2020 and 2021 as well. We get to see hedge funds' thoughts towards the market and individual stocks by aggregating their quarterly portfolio movements and reading their investor letters. In this article, we will particularly take a look at what hedge funds think about ACV Auctions Inc. (NASDAQ:ACVA).

Hedge fund interest in ACV Auctions Inc. (NASDAQ:ACVA) shares was flat at the end of last quarter. This is usually a negative indicator. Our calculations also showed that ACVA isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings). At the end of this article we will also compare ACVA to other stocks including Retail Properties of America Inc (NYSE:RPAI), Cannae Holdings, Inc. (NYSE:CNNE), and United States Cellular Corporation (NYSE:USM) to get a better sense of its popularity.

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 look at the latest hedge fund action encompassing ACV Auctions Inc. (NASDAQ:ACVA).