The Jones Group Inc. (NYSE:JNY) was in 12 hedge funds’ portfolio at the end of March. JNY shareholders have witnessed a decrease in activity from the world’s largest hedge funds recently. There were 13 hedge funds in our database with JNY holdings at the end of the previous quarter.
In today’s marketplace, there are tons of methods shareholders can use to monitor their holdings. A duo of the most underrated 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 elite fund managers can outperform the broader indices by a superb margin (see just how much).
Just as key, positive insider trading activity is another way to break down the marketplace. As the old adage goes: there are lots of reasons for a corporate insider to get rid of shares of his or her company, but only one, very simple reason why they would behave bullishly. Several academic studies have demonstrated the useful potential of this tactic if piggybackers understand what to do (learn more here).
With all of this in mind, we’re going to take a peek at the key action encompassing The Jones Group Inc. (NYSE:JNY).
What does the smart money think about The Jones Group Inc. (NYSE:JNY)?
In preparation for this quarter, a total of 12 of the hedge funds we track were bullish in this stock, a change of -8% from the previous quarter. With hedgies’ sentiment swirling, there exists a few noteworthy hedge fund managers who were boosting their holdings significantly.
According to our comprehensive database, Richard S. Pzena’s Pzena Investment Management had the biggest position in The Jones Group Inc. (NYSE:JNY), worth close to $38.5 million, accounting for 0.3% of its total 13F portfolio. On Pzena Investment Management’s heels is David Dreman of Dreman Value Management, with a $33.5 million position; the fund has 0.9% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include Chuck Royce’s Royce & Associates, Boaz Weinstein’s Saba Capital and Ken Griffin’s Citadel Investment Group.
Seeing as The Jones Group Inc. (NYSE:JNY) has experienced a declination in interest from the entirety of the hedge funds we track, it’s easy to see that there were a few funds who were dropping their entire stakes last quarter. It’s worth mentioning that Glenn Russell Dubin’s Highbridge Capital Management sold off the biggest position of the “upper crust” of funds we monitor, worth about $2.6 million in stock., and Paul Tudor Jones of Tudor Investment Corp was right behind this move, as the fund cut about $0.6 million worth. These moves are important to note, as total hedge fund interest dropped by 1 funds last quarter.
Insider trading activity in The Jones Group Inc. (NYSE:JNY)
Bullish insider trading is best served when the primary stock in question has seen transactions within the past half-year. Over the last six-month time frame, The Jones Group Inc. (NYSE:JNY) has seen zero unique insiders purchasing, and 3 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to The Jones Group Inc. (NYSE:JNY). These stocks are Ann Inc (NYSE:ANN), Stage Stores Inc (NYSE:SSI), Jos. A. Bank Clothiers Inc (NASDAQ:JOSB), Aeropostale, Inc. (NYSE:ARO), and Children’s Place Retail Stores, Inc. (NASDAQ:PLCE). This group of stocks are in the apparel stores industry and their market caps are closest to JNY’s market cap.