The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors endured a torrid quarter, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As a result, the relevancy of these public filings and their content is indisputable, as they may reveal numerous high-potential stocks. The following article will discuss the smart money sentiment towards Ampco-Pittsburgh Corp. (NYSE:AP).
Ampco-Pittsburgh Corp. has seen an increase in support from the world’s most elite money managers of late. At the end of this article we will also compare AP to other stocks, including Rex Energy Corporation (NASDAQ:REXX), Entegra Financial Corp (NASDAQ:ENFC), and Lee Enterprises, Incorporated (NYSE:LEE) to get a better sense of its popularity.
In the eyes of most stock holders, hedge funds are assumed to be worthless, outdated financial tools of yesteryear. While there are over 8000 funds in operation at present, Our experts look at the moguls of this group, approximately 700 funds. These money managers shepherd most of the smart money’s total capital, and by tracking their best investments, Insider Monkey has determined many investment strategies that have historically outperformed the S&P 500 index. Insider Monkey’s small-cap hedge fund strategy outpaced the S&P 500 index by 12 percentage points annually for a decade in their back tests.
Now, we’re going to analyze the key action regarding Ampco-Pittsburgh Corp. (NYSE:AP).
How have hedgies been trading Ampco-Pittsburgh Corp. (NYSE:AP)?
At the end of the third quarter, a total of 7 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 17% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a few notable hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, GAMCO Investors, managed by Mario Gabelli, holds the number one position in Ampco-Pittsburgh Corp. (NYSE:AP). GAMCO Investors has a $16.4 million position in the stock, comprising 0.1% of its 13F portfolio. The second most bullish fund manager is Royce & Associates, led by Chuck Royce, holding a $3.6 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Some other professional money managers that are bullish comprise Jim Simons’ Renaissance Technologies, Israel Englander’s Millennium Management and John Overdeck and David Siegel’s Two Sigma Advisors.