Mohawk Group Holdings, Inc. (NASDAQ: MWK) is an exciting technology-enabled consumer goods company, which sells over 250 SKUs and has seen year-over-year net revenue growth of nearly 57%. Analysts continue to hold “buy” rating on Mohawk and an average price target of over $10.
The company’s proprietary artificial intelligence platform, AIMEE, is a driving force of success at Mohawk. AIMEE is capable of crunching large amounts of data, which can help Mohawk predict market trends, identify emerging opportunities, manage inventory, measure consumer sentiment and more.
Mohawk’s impressive growth story continues to turn heads on Wall Street, as the company’s institutional investor roster sports some big names in the asset management industry. Here are Mohawk’s five largest institutional shareholders, as of January 31, 2020:
1. Rovida Advisors, Inc. – 3.04% Ownership of MWK
Rovida Advisors, Inc. is an asset management firm based out of Newark, New Jersey. According to SEC 13F filings from the fourth quarter 2019, Rovida maintains assets under management of around $1.89 billion. The asset manager has a very concentrated portfolio with its top ten holdings accounting for over 53% of the total portfolio.
As of the end of January 2020, Rovida Advisors was listed as Mohawk’s largest institutional shareholder with 536,466 shares or 3.04% ownership of MWK. Mohawk was a new position for Rovida Advisors when the stake was disclosed.
2. Intrinsic Edge Capital Management, LLC – 1.99% Ownership
Intrinsic Edge Capital Management, LLC (IECM) is a Chicago-based Registered investment Advisor (RIA). As of the end of 2019, the RIA reportedly held assets under management of around $750 million. IECM focuses on fundamentals and catalyst-driven opportunities across small and mid-cap U.S. equities.
IECM holds 350,000 shares of MWK, which equates to 1.99% ownership in the technology-based consumer goods company. This was not a new position for the RIA, but no new shares were added during the period ending January 31, 2020.
3. Hudson Bay Capital Management LP – 1.56% Ownership
Based out of New York, Hudson Bay Capital Management is a hedge fund that has assets under management of $4.49 billion, as of the fourth quarter 2019. Founded in 2005, Hudson Bay Capital has been managing outside investor assets since 2006.
As of the end of January 2020, Hudson Bay Capital held 274,358 shares of Mohawk, which equates to 1.56% total ownership in the company. This was not a new position for Hudson.
4. Morgan Stanley – 1.29%
Founded in 1935, Morgan Stanley is a global investment bank based out of New York. The investment bank has operations across 42 countries and maintains a roster of over 55,000 employees. As of September 2019, Morgan Stanley held assets under management of over $507 billion.
Morgan Stanley reportedly holds 228,206 shares or 1.29% of MWK within its brokerage accounts. This was a newly reported position for the period ending January 31, 2020.
5. Vanguard Group, Inc. – 0.93% Ownership
Vanguard is the second largest asset management firm in the world, when looking at assets under management. Only BlackRock is larger than Vanguard. As of March 2019, Vanguard held assets under management of $5.6 trillion, thanks to the company’s pioneering on low-cost mutual funds and ETFs.
As of January 31, 2020, Vanguard Group holds 163,230 shares or 0.93% ownership in Mohawk Group. This was listed as a new position for the asset manager.
Other Notable Top Institutional Investors in Mohawk Group
Outside of the top five institutional investors, Mohawk still has some backing from top-tier firms. BlackRock, the world’s largest asset management firm, is the sixth largest institutional shareholder of Mohawk, with 9,600 shares or 0.05% ownership in the company. The world’s third largest asset management firm, UBS, is also a shareholder of Mohawk. As of January 2020, UBS held 1,746 shares or 0.01% ownership in MWK.
Overall, Mohawk has very notable institutional shareholders, including the world’s first, second, and third largest asset management firms (BlackRock, Vanguard, UBS). Morgan Stanley’s strong position in Mohawk is another major addition to the company’s bullish case. Factor in world-renowned hedge fund, Hudson Bay Capital, and smaller investment firms, and you have a winning combination of institutional backing. For retail shareholders and the management team of Mohawk, these institutional investors are a confirmation that the company is on the right path.
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