With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was CARBO Ceramics Inc. (NYSE:CRR).
CARBO Ceramics Inc. (NYSE:CRR) has seen a decrease in support from the world’s most elite money managers lately. CARBO Ceramics Inc. (NYSE:CRR) was in 7 hedge funds’ portfolios at the end of September. There were 14 hedge funds in our database with CARBO Ceramics Inc. (NYSE:CRR) holdings at the end of the previous quarter. It is important to note that the shares of CARBO Ceramics Inc. (NYSE:CRR) were down 54.38% during the third quarter, sharing the opinion of the hedge funds. For an in-depth understanding of the hedge fund sentiment surrounding the company, we will find out more about hedge funds that held positions in CARBO Ceramics Inc. (NYSE:CRR) at the end of the last quarter.
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 Stein Mart, Inc. (NASDAQ:SMRT), Forestar Group Inc. (NYSE:FOR), and ReTailMeNot Inc (NASDAQ:SALE) to gather more data points.
At the moment, there are numerous indicators shareholders employ to size up stocks. Some of the most useful indicators are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the best picks of the elite money managers can beat the S&P 500 by a superb margin (see the details here).
Now, we’re going to take a look at the recent action encompassing CARBO Ceramics Inc. (NYSE:CRR).
What have hedge funds been doing with CARBO Ceramics Inc. (NYSE:CRR)?
At the end of the third quarter, a total of 7 of the hedge funds tracked by Insider Monkey were bullish on this stock, a decline of 50% from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).
According to Insider Monkey’s hedge fund and institutional investor database, Royce & Associates, managed by Chuck Royce, holds the largest position in CARBO Ceramics Inc. (NYSE:CRR). Royce & Associates has a $9.8 million position in the stock, comprising 0.1% of its 13F portfolio. Coming in second is Coatue Management, managed by Philippe Laffont, which holds a $9.5 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining peers that hold long positions containD E Shaw, Tom Gayner’s Markel Gayner Asset Management, and Ken Griffin’s Citadel Investment Group.