In the hedge fund world, BlueMountain Capital Management, LLC, reported a purchase of 5,129,101 shares of Lexmark International Inc (NYSE:LXK) in a 13D filing with the Securities and Exchange Commission. In total, the holding in Lexmark International Inc (NYSE: LXK) is now worth almost $157 million, at the current price of the stock. The position represents 8.1% in Lexmark. In its most recent 13F filing, the fund disclosed a call position, which contained 10,000 shares of the company.
Generally speaking, 13Ds reveal the intentions of activist investors. These members of the smart money are the proverbial celebrities in the financial space, and look to take a brush stroke to an already standing business.
To put it simply, it’s extremely important for everyday investors to internalize BlueMountain Capital Management’s latest move into Lexmark International Inc (NYSE:LXK).
Despite the fact that most shareholders keep a close eye on a wide rage of equity-based metrics, there’s one that is particularly important: the total sentiment of the world’s best money managers.
At Insider Monkey, our studies have discovered that mimickers who copy specific hedge fund activity can outperform the S&P 500 by about 18 percentage points each year. (Learn more about our strategy here)
Keying on Lexmark International Inc (NYSE:LXK), our records indicate that 31 hedge funds were bullish on Company in the latest round of 13F filings. Specifically David Cohen and Harold Levy Iridian Asset Management held about 2.7 million shares of Lexmark International, which is some of the best company anyone can be in the same vicinity as. Also, we could mention First Eagle Investment Management managed by Jean-Marie Eveillard, which owns 845,000 shares, and Cliff Asness’ Aqr Capital Management with 425,000 shares.
Just as important, we should mention some other holdings in BlueMountain Capital Management, LLC’s equity portfolio, according to its most recent 13F filing with the SEC.