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.

Hedge Funds Are Dumping Olympic Steel, Inc. (ZEUS)

Page 1 of 2

How do we determine whether Olympic Steel, Inc. (NASDAQ:ZEUS) makes for a good investment at the moment? We analyze the sentiment of a select group of the very best investors in the world, who spend immense amounts of time and resources studying companies. They may not always be right (no one is), but data shows that their consensus long positions have historically outperformed the market when we adjust for known risk factors.

Is Olympic Steel, Inc. (NASDAQ:ZEUS) going to take off soon? Prominent investors are becoming less hopeful. The number of bullish hedge fund bets fell by 1 in recent months. At the end of this article we will also compare ZEUS to other stocks including Community Bankers Trust Corp. (NASDAQ:ESXB), Houston Wire & Cable Company (NASDAQ:HWCC), and Manning and Napier Inc (NYSE:MN) to get a better sense of its popularity.

Follow Olympic Steel Inc (NASDAQ:ZEUS)
Trade (NASDAQ:ZEUS) Now!

Keeping this in mind, we’re going to take a glance at the key action surrounding Olympic Steel, Inc. (NASDAQ:ZEUS).

Hedge fund activity in Olympic Steel, Inc. (NASDAQ:ZEUS)

At Q3’s end, a total of 9 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -10% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).

Of the funds tracked by Insider Monkey, Royce & Associates, managed by Chuck Royce, holds the number one position in Olympic Steel, Inc. (NASDAQ:ZEUS). Royce & Associates has an $2.8 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Sitting at the No. 2 spot is AQR Capital Management, led by Cliff Asness, holding an $0.6 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other peers that hold long positions encompass Israel Englander’s Millennium Management, and D. E. Shaw’s D E Shaw.

Because Olympic Steel, Inc. (NASDAQ:ZEUS) has faced bearish sentiment from the entirety of the hedge funds we track, logic holds that there is a sect of funds that slashed their entire stakes in the third quarter. It’s worth mentioning that Ken Gray and Steve Walsh’s Bryn Mawr Capital sold off the largest stake of the “upper crust” of funds followed by Insider Monkey, comprising close to $0.4 million in stock, and Peter Muller’s PDT Partners was right behind this move, as the fund sold off about $0.2 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest dropped by 1 funds in the third quarter.

Let’s go over hedge fund activity in other stocks similar to Olympic Steel, Inc. (NASDAQ:ZEUS) on the next page.

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...

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!