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Equally as key, bullish insider trading activity is another way to analyze the investments you're interested in. As the old adage goes: there are plenty of stimuli for a corporate insider to drop shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Several empirical studies have demonstrated the market-beating potential of this strategy if "monkeys" know where to look (learn more here
Furthermore, let's study the newest info surrounding Carlisle Companies, Inc. (NYSE:CSL
Hedge fund activity in Carlisle Companies, Inc. (NYSE:CSL)
At Q2's end, a total of 22 of the hedge funds we track were bullish in this stock, a change of 29% from the previous quarter. With hedge funds' capital changing hands, there exists an "upper tier" of notable hedge fund managers who were upping their holdings meaningfully.
Out of the hedge funds we follow, Chuck Royce's Royce & Associates had the biggest position in Carlisle Companies, Inc. (NYSE:CSL), worth close to $49.5 million, comprising 0.2% of its total 13F portfolio. The second largest stake is held by David Dreman of Dreman Value Management, with a $23.1 million position; the fund has 0.7% of its 13F portfolio invested in the stock. Remaining peers with similar optimism include Matthew Lindenbaum's Basswood Capital, Israel Englander's Millennium Management and Jim Simons's Renaissance Technologies.
As one would understandably expect, certain money managers have been driving this bullishness. Royce & Associates
, managed by Chuck Royce, created the most outsized position in Carlisle Companies, Inc. (NYSE:CSL). Royce & Associates had 49.5 million invested in the company at the end of the quarter. David Dreman's Dreman Value Management
also initiated a $23.1 million position during the quarter. The other funds with brand new CSL positions are Matthew Lindenbaum's Basswood Capital
, Israel Englander's Millennium Management
, and Jim Simons's Renaissance Technologies
Insider trading activity in Carlisle Companies, Inc. (NYSE:CSL)
Bullish insider trading is particularly usable when the primary stock in question has experienced transactions within the past six months. Over the last half-year time frame, Carlisle Companies, Inc. (NYSE:CSL) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here
We'll go over the relationship between both of these indicators in other stocks similar to Carlisle Companies, Inc. (NYSE:CSL). These stocks are Tredegar Corporation (NYSE:TG
), Titan International Inc (NYSE:TWI
), Cooper Tire & Rubber Company (NYSE:CTB
), Berry Plastics Group Inc (NYSE:BERY
), and The Goodyear Tire & Rubber Company (NASDAQ:GT
). This group of stocks are in the rubber & plastics industry and their market caps resemble CSL's market cap.