Is Axiall Corp (NYSE:AXLL) a buy here? Hedge funds are in a bullish mood. The number of bullish hedge fund positions moved up by 3 lately.
To the average investor, there are plenty of methods shareholders can use to watch their holdings. A pair of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best investment managers can beat the market by a significant amount (see just how much).
Equally as beneficial, optimistic insider trading activity is a second way to break down the financial markets. Obviously, there are lots of reasons for an executive to get rid of shares of his or her company, but only one, very obvious reason why they would behave bullishly. Many academic studies have demonstrated the useful potential of this tactic if you understand where to look (learn more here).
With these “truths” under our belt, we’re going to take a peek at the recent action regarding Axiall Corp (NYSE:AXLL).
How have hedgies been trading Axiall Corp (NYSE:AXLL)?
Consequently, key hedge funds were breaking ground themselves. Columbus Circle Investors, managed by Donald Chiboucis, established the biggest position in Axiall Corp (NYSE:AXLL). Columbus Circle Investors had 25.7 million invested in the company at the end of the quarter. Richard Driehaus’s Driehaus Capital also initiated a $6.5 million position during the quarter. The only other fund with a brand new AXLL position is Paul Tudor Jones’s Tudor Investment Corp.
What have insiders been doing with Axiall Corp (NYSE:AXLL)?
Insider purchases made by high-level executives is best served when the company we’re looking at has seen transactions within the past half-year. Over the latest six-month time period, Axiall Corp (NYSE:AXLL) has seen zero unique insiders purchasing, and 4 insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Axiall Corp (NYSE:AXLL). These stocks are Hawkins, Inc. (NASDAQ:HWKN), Praxair, Inc. (NYSE:PX), NL Industries, Inc. (NYSE:NL), Minerals Technologies Inc (NYSE:MTX), and Tronox Ltd (NYSE:TROX). This group of stocks belong to the synthetics industry and their market caps resemble AXLL’s market cap.