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Hedge Funds Aren’t Crazy About Thermon Group Holdings Inc (THR) Anymore

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Thermon Group Holdings Inc (NYSE:THR) shareholders have witnessed a decrease in support from the world’s most elite money managers recently.

At the moment, there are many methods shareholders can use to analyze stocks. Two of the best are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best money managers can beat the S&P 500 by a very impressive amount (see just how much).

Andrew Sandler

Equally as integral, positive insider trading sentiment is a second way to break down the world of equities. As the old adage goes: there are plenty of incentives for a bullish insider to drop shares of his or her company, but only one, very clear reason why they would behave bullishly. Various empirical studies have demonstrated the impressive potential of this tactic if you understand where to look (learn more here).

Keeping this in mind, let’s take a glance at the key action surrounding Thermon Group Holdings Inc (NYSE:THR).

What does the smart money think about Thermon Group Holdings Inc (NYSE:THR)?

In preparation for this year, a total of 6 of the hedge funds we track were bullish in this stock, a change of -57% from the third quarter. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were increasing their stakes meaningfully.

Of the funds we track, Sandler Capital Management, managed by Andrew Sandler, holds the most valuable position in Thermon Group Holdings Inc (NYSE:THR). Sandler Capital Management has a $9.2 million position in the stock, comprising 0.5% of its 13F portfolio. Sitting at the No. 2 spot is Adage Capital Management, managed by Phill Gross and Robert Atchinson, which held a $4.1 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Remaining hedge funds with similar optimism include Israel Englander’s Millennium Management, Richard Driehaus’s Driehaus Capital and D. E. Shaw’s D E Shaw.

Since Thermon Group Holdings Inc (NYSE:THR) has faced bearish sentiment from the entirety of the hedge funds we track, we can see that there were a few hedgies that decided to sell off their positions entirely at the end of the year. Interestingly, James A. Star’s Longview Asset Management said goodbye to the largest stake of all the hedgies we track, valued at close to $18.1 million in stock., and Alec Litowitz and Ross Laser of Magnetar Capital was right behind this move, as the fund dropped about $10 million worth. These moves are interesting, as total hedge fund interest was cut by 8 funds at the end of the year.

How are insiders trading Thermon Group Holdings Inc (NYSE:THR)?

Insider trading activity, especially when it’s bullish, is most useful when the primary stock in question has seen transactions within the past half-year. Over the latest half-year time period, Thermon Group Holdings Inc (NYSE:THR) has experienced 1 unique insiders buying, and 4 insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to Thermon Group Holdings Inc (NYSE:THR). These stocks are Edwards Group Ltd (NASDAQ:EVAC), Luxfer Holdings PLC (ADR) (NYSE:LXFR), China Yuchai International Limited (NYSE:CYD), John Bean Technologies Corporation (NYSE:JBT), and The Gorman-Rupp Company (NYSEAMEX:GRC). This group of stocks are the members of the diversified machinery industry and their market caps are closest to THR’s market cap.

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