Is Robert Half International Inc. (NYSE:RHI) a good bet right now? We like to analyze hedge fund sentiment before doing days of in-depth research. We do so because hedge funds and other elite investors have numerous Ivy league graduates, expert network advisers, and supply chain tipsters working or consulting for them. There is not a shortage of news stories covering failed hedge fund investments (for some reason media paid a ton of attention to Ackman’s gigantic JC Penney and Valeant failures) and it is a fact that hedge funds’ picks don’t beat the market 100% of the time, but their consensus picks have historically done very well and have outperformed the market after adjusting for risk.
Robert Half International Inc. (NYSE:RHI) investors should pay attention to an increase in hedge fund interest lately. At the end of this article we will also compare RHI to other stocks including CIT Group Inc. (NYSE:CIT), Westlake Chemical Corporation (NYSE:WLK), and Garmin Ltd. (NASDAQ:GRMN) to get a better sense of its popularity.
Keeping this in mind, we’re going to review the key action encompassing Robert Half International Inc. (NYSE:RHI).
How are hedge funds trading Robert Half International Inc. (NYSE:RHI)?
At the end of the third quarter, a total of 28 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 4% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were boosting their stakes significantly (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Cliff Asness’ AQR Capital Management has the largest position in Robert Half International Inc. (NYSE:RHI), worth close to $47.1 million, amounting to 0.1% of its total 13F portfolio. On AQR Capital Management’s heels is Winton Capital Management, managed by David Harding, which holds a $39.3 million position; 0.3% of its 13F portfolio is allocated to the stock. Some other peers that hold long positions comprise Israel Englander’s Millennium Management, Joel Greenblatt’s Gotham Asset Management and John Overdeck and David Siegel’s Two Sigma Advisors.