Do Hedge Funds and Insiders Love Berry Plastics Group Inc (BERY)?

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Just as useful, positive insider trading sentiment is a second way to look at the financial markets. Obviously, there are plenty of reasons for a bullish insider to downsize shares of his or her company, but just one, very simple reason why they would initiate a purchase. Many academic studies have demonstrated the useful potential of this strategy if shareholders understand what to do (learn more here).

Berry Plastics Group Inc (NYSE:BERY)

Keeping this in mind, it’s important to examine the latest info surrounding Berry Plastics Group Inc (NYSE:BERY).

How are hedge funds trading Berry Plastics Group Inc (NYSE:BERY)?

Heading into Q3, a total of 23 of the hedge funds we track held long positions in this stock, a change of 130% from the first quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes meaningfully.

Consequently, particular hedge funds were leading the bulls’ herd. Select Equity Group, managed by Robert Joseph Caruso, created the biggest position in Berry Plastics Group Inc (NYSE:BERY). Select Equity Group had 107.5 million invested in the company at the end of the quarter. Jeffrey Tannenbaum’s Fir Tree also initiated a $57.5 million position during the quarter. The other funds with brand new BERY positions are Joshua Friedman and Mitchell Julis’s Canyon Capital Advisors, David Tepper’s Appaloosa Management LP, and Jeffrey Gates’s Gates Capital Management.

Insider trading activity in Berry Plastics Group Inc (NYSE:BERY)

Insider buying is most useful when the company we’re looking at has experienced transactions within the past six months. Over the latest six-month time period, Berry Plastics Group Inc (NYSE:BERY) has experienced zero unique insiders buying, 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 Berry Plastics Group Inc (NYSE:BERY). These stocks are Tredegar Corporation (NYSE:TG), Carlisle Companies, Inc. (NYSE:CSL), Titan International Inc (NYSE:TWI), The Goodyear Tire & Rubber Company (NASDAQ:GT), and Cooper Tire & Rubber Company (NYSE:CTB). This group of stocks belong to the rubber & plastics industry and their market caps are similar to BERY’s market cap.

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