While the market driven by short-term sentiment influenced by uncertainty regarding the future of the interest rate environment in the US, the low commodity prices and the economic turmoil in China, many smart money investors are keeping their optimism regarding the current bull run, while still hedging many of their long positions. However, as we know, big investors usually buy stocks with strong fundamentals, which is why we believe we can profit from imitating them. In this article, we are going to take a look at the smart money sentiment surrounding RPM International Inc. (NYSE:RPM).
Is RPM International Inc. (NYSE:RPM) a buy, sell, or hold? Hedge funds are in a pessimistic mood. The number of bullish hedge fund positions dropped by 5 recently. 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 Jack Henry & Associates, Inc. (NASDAQ:JKHY), DDR Corp (NYSE:DDR), and Frontier Communications Corp (NASDAQ:FTR) to gather more data points.
In the financial world, there are tons of tools stock market investors put to use to size up their holdings. Two of the most under-the-radar tools are hedge fund and insider trading interest. Our experts have shown that, historically, those who follow the best picks of the top money managers can outperform their index-focused peers by a significant margin (see the details here).
With all of this in mind, we’re going to view the latest action regarding RPM International Inc. (NYSE:RPM).
How have hedgies been trading RPM International Inc. (NYSE:RPM)?
At the end of September, a total of 18 of the hedge funds tracked by Insider Monkey held long positions in this stock, a drop of 22% from the second quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were upping their holdings significantly (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Alyeska Investment Group, managed by Anand Parekh, holds the largest position in RPM International Inc. (NYSE:RPM). Alyeska Investment Group has a $24.1 million position in the stock, comprising 0.3% of its 13F portfolio. Sitting at the No. 2 spot is Steve Cohen of Point72 Asset Management, with a $9.6 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining professional money managers that hold long positions consist of Richard Chilton’s Chilton Investment Company, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital, and John M. Angelo and Michael L. Gordon’s Angelo Gordon & Co.