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Hedge Funds Are Selling Retail Opportunity Investments Corp (ROIC)

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Retail Opportunity Investments Corp (NASDAQ:ROIC) was in 12 hedge funds’ portfolio at the end of the first quarter of 2013. ROIC investors should be aware of a decrease in hedge fund interest of late. There were 14 hedge funds in our database with ROIC holdings at the end of the previous quarter.

Retail Opportunity Investments Corp (NASDAQ:ROIC)

To most stock holders, hedge funds are viewed as worthless, old financial vehicles of yesteryear. While there are more than 8000 funds with their doors open at present, we look at the upper echelon of this group, about 450 funds. It is estimated that this group controls most of the hedge fund industry’s total capital, and by tracking their top investments, we have unearthed a few investment strategies that have historically outperformed the broader indices. Our small-cap hedge fund strategy outpaced the S&P 500 index by 18 percentage points per annum for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 23.3 percentage points in 8 months (explore the details and some picks here).

Just as key, optimistic insider trading sentiment is another way to parse down the financial markets. Obviously, there are many stimuli for an insider to cut shares of his or her company, but only one, very simple reason why they would initiate a purchase. Plenty of academic studies have demonstrated the valuable potential of this strategy if piggybackers understand what to do (learn more here).

Consequently, it’s important to take a peek at the latest action regarding Retail Opportunity Investments Corp (NASDAQ:ROIC).

What does the smart money think about Retail Opportunity Investments Corp (NASDAQ:ROIC)?

In preparation for this quarter, a total of 12 of the hedge funds we track were long in this stock, a change of -14% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were increasing their stakes significantly.

Of the funds we track, Fir Tree, managed by Jeffrey Tannenbaum, holds the most valuable position in Retail Opportunity Investments Corp (NASDAQ:ROIC). Fir Tree has a $44.1 million position in the stock, comprising 0.8% of its 13F portfolio. The second largest stake is held by Jeffrey Furber of AEW Capital Management, with a $30.7 million position; the fund has 0.8% of its 13F portfolio invested in the stock. Some other hedgies with similar optimism include Glenn J. Krevlin’s Glenhill Advisors, J. Alan Reid, Jr.’s Forward Management and Jeffrey Tannenbaum’s Fir Tree.

Seeing as Retail Opportunity Investments Corp (NASDAQ:ROIC) has witnessed a declination in interest from hedge fund managers, we can see that there were a few funds that slashed their positions entirely last quarter. Intriguingly, Brian Taylor’s Pine River Capital Management dropped the biggest investment of all the hedgies we monitor, comprising an estimated $4.2 million in stock.. Ken Griffin’s fund, Citadel Investment Group, also cut its stock, about $1.6 million worth. These transactions are interesting, as total hedge fund interest dropped by 2 funds last quarter.

Insider trading activity in Retail Opportunity Investments Corp (NASDAQ:ROIC)

Insider buying is at its handiest when the company in question has experienced transactions within the past 180 days. Over the latest six-month time frame, Retail Opportunity Investments Corp (NASDAQ:ROIC) has seen 1 unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity in other stocks similar to Retail Opportunity Investments Corp (NASDAQ:ROIC). These stocks are Ramco-Gershenson Properties Trust (NYSE:RPT), Getty Realty Corp. (NYSE:GTY), Urstadt Biddle Properties Inc (NYSE:UBA), Inland Real Estate Corporation (NYSE:IRC), and Saul Centers Inc (NYSE:BFS). This group of stocks are in the reit – retail industry and their market caps match ROIC’s market cap.

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