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Hedge Funds Aren’t Crazy About General Growth Properties Inc (NYSE:GGP) Anymore

General Growth Properties Inc (NYSE:GGP) was in 21 hedge funds’ portfolio at the end of December. GGP has seen a decrease in support from the world’s most elite money managers in recent months. There were 27 hedge funds in our database with GGP positions at the end of the previous quarter.

In the 21st century investor’s toolkit, there are dozens of indicators market participants can use to analyze Mr. Market. A duo of the most under-the-radar are hedge fund and insider trading activity. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best investment managers can outclass the S&P 500 by a very impressive margin (see just how much).

General Growth Properties IncJust as key, bullish insider trading sentiment is a second way to parse down the investments you’re interested in. There are many motivations for an insider to cut shares of his or her company, but just one, very clear reason why they would buy. Various empirical studies have demonstrated the impressive potential of this tactic if “monkeys” understand what to do (learn more here).

Consequently, we’re going to take a glance at the key action encompassing General Growth Properties Inc (NYSE:GGP).

What does the smart money think about General Growth Properties Inc (NYSE:GGP)?

Heading into 2013, a total of 21 of the hedge funds we track were bullish in this stock, a change of -22% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were boosting their stakes meaningfully.

When looking at the hedgies we track, Pershing Square, managed by Bill Ackman, holds the biggest position in General Growth Properties Inc (NYSE:GGP). Pershing Square has a $1.483 billion position in the stock, comprising 16.2% of its 13F portfolio. Sitting at the No. 2 spot is Kenneth Mario Garschina of Mason Capital Management, with a $198 million position; the fund has 2.8% of its 13F portfolio invested in the stock. Some other peers with similar optimism include James Dinan’s York Capital Management, Jim Simons’s Renaissance Technologies and Clint Carlson’s Carlson Capital.

Since General Growth Properties Inc (NYSE:GGP) has experienced declining sentiment from hedge fund managers, it’s safe to say that there exists a select few money managers that decided to sell off their full holdings in Q4. Interestingly, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital sold off the biggest position of all the hedgies we watch, valued at an estimated $27 million in stock., and John Bader of Halcyon Asset Management was right behind this move, as the fund said goodbye to about $10 million worth. These transactions are important to note, as total hedge fund interest was cut by 6 funds in Q4.

What have insiders been doing with General Growth Properties Inc (NYSE:GGP)?

Insider purchases made by high-level executives is most useful when the primary stock in question has experienced transactions within the past 180 days. Over the last half-year time period, General Growth Properties Inc (NYSE:GGP) has experienced zero unique insiders buying, and 2 insider sales (see the details of insider trades here).

With the results exhibited by Insider Monkey’s time-tested strategies, retail investors must always pay attention to hedge fund and insider trading sentiment, and General Growth Properties Inc (NYSE:GGP) is an important part of this process.

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

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