Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Central Garden & Pet Co (CENT): Are Hedge Funds Right About This Stock?

Page 1 of 2

Amid an overall market correction, many stocks that smart money investors were collectively bullish on tanked during the third quarter. Among them, Valeant and Micron ranked among the top 30 picks and both lost around 20%. Citigroup, which was the third most popular stock, lost 10% amid uncertainty regarding the interest rates. Nevertheless, our research shows that most of the stocks that smart money likes historically generate strong risk-adjusted returns. This is why following the smart money sentiment is a useful tool at identifying the next stock to invest in.

Is Central Garden & Pet Co (NASDAQ:CENT) a healthy stock for your portfolio? The smart money is getting more bullish. The number of bullish hedge fund positions inched up by 4 lately. CENT was in 20 hedge funds’ portfolios at the end of the third quarter of 2015. There were 16 hedge funds in our database with CENT positions at the end of the previous quarter. At the end of this article we will also compare CENT to other stocks including Astec Industries, Inc. (NASDAQ:ASTE), DHX Media Ltd (USA) (NASDAQ:DHXM), and Relypsa Inc (NASDAQ:RLYP) to get a better sense of its popularity.

Follow Central Garden & Pet Co
Trade (CENT) Now!

Keeping this in mind, we’re going to view the key action regarding Central Garden & Pet Co (NASDAQ:CENT).

What have hedge funds been doing with Central Garden & Pet Co (NASDAQ:CENT)?

Heading into Q4, a total of 20 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 25% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were boosting their stakes considerably (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Peter Schliemann’s Rutabaga Capital Management has the most valuable position in Central Garden & Pet Co (NASDAQ:CENT), worth close to $20.9 million, amounting to 2.6% of its total 13F portfolio. Coming in second is Chuck Royce of Royce & Associates, with a $19.6 million position; 0.1% of its 13F portfolio is allocated to the stock. Remaining professional money managers that are bullish include Jim Simons’ Renaissance Technologies, Peter Schliemann’s Rutabaga Capital Management and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!