At Insider Monkey, we pore over the filings of more than 700 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we’ve gathered as a result gives us access to a wealth of collective knowledge based on these firms’ portfolio holdings as of September 30. In this article, we will use that wealth of knowledge to determine whether or not Companhia Siderurgica Nacional (ADR) (NYSE:SID) makes for a good investment right now.
Is Companhia Siderurgica Nacional (ADR) (NYSE:SID) worth your attention right now? Money managers are getting less bullish. The number of long hedge fund bets retreated by 4 in recent months. SID was in 4 hedge funds’ portfolios at the end of September. There were 8 hedge funds in our database with SID positions at the end of the previous quarter. At the end of this article we will also compare SID to other stocks, including Rent-A-Center Inc (NASDAQ:RCII), Nevro Corp (NYSE:NVRO), and Surgical Care Affiliates Inc (NASDAQ:SCAI) to get a better sense of its popularity.
Today there are many formulas investors put to use to evaluate stocks. A duo of the less utilized formulas are hedge fund and insider trading interest. We have shown that, historically, those who follow the top picks of the elite hedge fund managers can outperform the S&P 500 by a significant margin (see the details here).
Keeping this in mind, let’s take a peek at the recent action encompassing Companhia Siderurgica Nacional (ADR) (NYSE:SID).
How are hedge funds trading Companhia Siderurgica Nacional (ADR) (NYSE:SID)?
Heading into Q4, a total of 4 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -50% from the second quarter. With hedge funds’ sentiment swirling, there exists a select group of key hedge fund managers who were boosting their holdings significantly (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Tyrian Investments, managed by Orlando Muyshondt, holds the largest position in Companhia Siderurgica Nacional (ADR) (NYSE:SID). Tyrian Investments has a $0.6 million position in the stock, comprising 0.2% of its 13F portfolio. The second largest stake is held by D E Shaw, led by D. E. Shaw, holding a $0.4 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Some other members of the smart money that hold long positions consist of Ken Griffin’s Citadel Investment Group and Cliff Asness’s AQR Capital Management.