We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of September 30. In this article we look at what those investors think of Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI).
Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI) has experienced a decrease in enthusiasm from smart money lately. At the end of this article we will also compare PLKI to other stocks, including 3D Systems Corporation (NYSE:DDD), WD-40 Company (NASDAQ:WDFC), and RingCentral Inc (NYSE:RNG) to get a better sense of its popularity.
In the financial world there are several gauges shareholders have at their disposal to appraise stocks. Some of the most useful gauges are hedge fund and insider trading indicators. Our experts have shown that, historically, those who follow the best picks of the best hedge fund managers can outperform the market by a very impressive amount (see the details here).
Keeping this in mind, we’re going to view the latest action regarding Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI).
Hedge fund activity in Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI)
Heading into Q4, a total of 12 of the hedge funds tracked by Insider Monkey were long this stock, a change of -20% from the previous quarter. With hedgies’ capital changing hands, there exists a few noteworthy hedge fund managers who were increasing their holdings substantially (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Jim Simons’ Renaissance Technologies has the biggest position in Popeyes Louisiana Kitchen Inc (NASDAQ:PLKI), worth close to $49.7 million, amounting to 0.1% of its total 13F portfolio. Sitting at the No. 2 spot is Mark Broach’s Manatuck Hill Partners, with an $31.2 million position; the fund has 13.3% of its 13F portfolio invested in the stock. Other professional money managers with similar optimism include John Ku’s Manor Road Capital Partners and Charles Paquelet’s Skylands Capital.