The government requires hedge funds and wealthy investors with over a certain portfolio size to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings level the playing field for ordinary investors. The latest round of 13F filings discloses the funds’ positions on September 30. We at Insider Monkey have made an extensive database of more than 700 of those elite funds and prominent investors’ filings. In this article, we analyze how these elite funds and prominent investors traded Haverty Furniture Companies, Inc. (NYSE:HVT) based on those filings.
Haverty Furniture Companies, Inc. (NYSE:HVT) investors should pay attention to an increase in hedge fund sentiment recently. HVT was in 12 hedge funds’ portfolios at the end of September. There were 11 hedge funds in our database with HVT positions at the end of the previous quarter. At the end of this article we will also compare HVT to other stocks, including Unifi, Inc. (NYSE:UFI), Blackrock Muni Intermediate Drtn Fnd Inc (NYSE:MUI), and Epizyme Inc (NASDAQ:EPZM) to get a better sense of its popularity.
To the average investor there are tons of signals market participants can use to appraise their stock investments. Some of the less utilized signals are hedge fund and insider trading sentiment. We have shown that, historically, those who follow the best picks of the elite fund managers can trounce their index-focused peers by a superb amount (see the details here).
With all of this in mind, let’s take a glance at the new action surrounding Haverty Furniture Companies, Inc. (NYSE:HVT).
Hedge fund activity in Haverty Furniture Companies, Inc. (NYSE:HVT)
At the end of the third quarter, a total of 12 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 9% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their stakes substantially (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Chuck Royce’s Royce & Associates has the largest position in Haverty Furniture Companies, Inc. (NYSE:HVT), worth close to $34.9 million, comprising 0.2% of its total 13F portfolio. Coming in second is Renaissance Technologies, with a $25.5 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other members of the smart money that hold long positions encompass Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Cliff Asness’ AQR Capital Management and D. E. Shaw’s D E Shaw.