BlackRock, Inc. (BLK) Posts Q2 Earnings Beat On Increased Revenue: Did Hedge Funds See This Coming?

What have hedge funds been doing with BlackRock, Inc. (NYSE:BLK)?

Phill Gross and Robert Atchinson‘s Adage Capital Management had the most valuable position in BlackRock, Inc. (NYSE:BLK), worth close to $71.1 million and made up of 194,380 shares at the end of March. The second-most bullish hedge fund manager was Partner Fund Management, led by Christopher Medlock James, which held a $60.7 million position in 165,831 shares. Remaining peers that were bullish include Tom Gayner’s Markel Gayner Asset Management, Jim Simons’ Renaissance Technologies, and David E. Shaw’s D.E. Shaw & Co., L.P.

As BlackRock, Inc. (NYSE:BLK) saw declining sentiment from the hedge fund industry, there were a few funds who sold off their entire stakes in the first quarter. Sharif Siddiqui‘s Alpenglow Capital sold off the biggest position of all the hedgies watched by Insider Monkey, comprising 12,200 shares worth about $4.36 million. Daniel S. Och’s fund, OZ Management, also sold off its 8,235 shares, about $2.95 million worth.

BlackRock does not appear to be a good stock to buy at the moment based on the bearish sentiment the world’s foremost money managers have shown BlackRock, Inc. (NYSE:BLK) of late.

Disclosure: None