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Hedge Funds Are Selling Ingredion Inc (NYSE:INGR)

Is Ingredion Inc (NYSE:INGR) ready to raly soon? Prominent investors are taking a pessimistic view. The number of long hedge fund positions stayed the same which is a slightly negative development in our experience


In the eyes of most traders, hedge funds are seen as unimportant, outdated investment tools of yesteryear. While there are greater than 8000 funds in operation today, we at Insider Monkey look at the moguls of this club, around 450 funds. Most estimates calculate that this group has its hands on most of the hedge fund industry’s total capital, and by paying attention to their best equity investments, we have uncovered a few investment strategies that have historically outpaced the broader indices. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 25 percentage points in 6.5 month (see the details here).

Equally as beneficial, positive insider trading activity is another way to parse down the financial markets. As the old adage goes: there are a number of stimuli for a bullish insider to drop shares of his or her company, but just one, very clear reason why they would behave bullishly. Plenty of academic studies have demonstrated the impressive potential of this method if shareholders know where to look (learn more here).

With these “truths” under our belt, it’s important to take a glance at the latest action surrounding Ingredion Inc (NYSE:INGR).

Hedge fund activity in Ingredion Inc (NYSE:INGR)

At year’s end, a total of 16 of the hedge funds we track were long in this stock, a change of 0% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were increasing their holdings meaningfully.

Of the funds we track, Fisher Asset Management, managed by Ken Fisher, holds the biggest position in Ingredion Inc (NYSE:INGR). Fisher Asset Management has a $77 million position in the stock, comprising 0.2% of its 13F portfolio. On Fisher Asset Management’s heels is Cliff Asness of AQR Capital Management, with a $20 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining hedge funds that hold long positions include Mario Gabelli’s GAMCO Investors, D. E. Shaw’s D E Shaw and Ken Griffin’s Citadel Investment Group.

Because Ingredion Inc (NYSE:INGR) has faced bearish sentiment from the smart money, logic holds that there exists a select few money managers who sold off their full holdings heading into 2013. It’s worth mentioning that Steven Cohen’s SAC Capital Advisors sold off the biggest stake of all the hedgies we monitor, valued at about $34 million in stock., and David Dreman of Dreman Value Management was right behind this move, as the fund dumped about $30 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

What do corporate executives and insiders think about Ingredion Inc (NYSE:INGR)?

Insider trading activity, especially when it’s bullish, is at its handiest when the company in question has seen transactions within the past 180 days. Over the latest six-month time frame, Ingredion Inc (NYSE:INGR) has experienced zero unique insiders buying, and 6 insider sales (see the details of insider trades here).

With the returns demonstrated by our time-tested strategies, retail investors must always watch hedge fund and insider trading activity, and Ingredion Inc (NYSE:INGR) is no exception.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

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