With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was Navios Maritime Holdings Inc. (NYSE:NM).
Is Navios Maritime Holdings Inc. (NYSE:NM) the right investment to pursue these days? Money managers are getting less optimistic. The number of long hedge fund bets were cut by 4 in recent months. NM was in 9 hedge funds’ portfolios at the end of September. There were 13 hedge funds in our database with NM holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Panhandle Oil and Gas Inc. (NYSE:PHX), ChemoCentryx Inc (NASDAQ:CCXI), and Atlas Resource Partners, L.P. (NYSE:ARP) to gather more data points.
In today’s marketplace there are many methods market participants use to evaluate publicly traded companies. A couple of the less utilized methods are hedge fund and insider trading indicators. Our researchers have shown that, historically, those who follow the top picks of the elite investment managers can outclass the broader indices by a healthy margin (see the details here).
Now, we’re going to view the recent action surrounding Navios Maritime Holdings Inc. (NYSE:NM).
What does the smart money think about Navios Maritime Holdings Inc. (NYSE:NM)?
At Q3’s end, a total of 9 of the hedge funds tracked by Insider Monkey were long this stock, a change of -31% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of noteworthy hedge fund managers who were upping their holdings considerably (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Gilchrist Berg’s Water Street Capital has the number one position in Navios Maritime Holdings Inc. (NYSE:NM), worth close to $5.7 million, corresponding to 0.2% of its total 13F portfolio. On Water Street Capital’s heels is Chuck Royce of Royce & Associates, with an $5.2 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Remaining peers that hold long positions include Bernard Selz’s Selz Capital, Emanuel J. Friedman’s EJF Capital and Andy Redleaf’s Whitebox Advisors.