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Is Chart Industries, Inc. (GTLS) Going to Burn These Hedge Funds?

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We know that hedge funds generate strong, risk-adjusted returns over the long run, therefore imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, smart money investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do (like Ackman’s recent Valeant losses). However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, as the current round of 13F filings has just ended, let’s examine the smart money sentiment towards Chart Industries, Inc. (NASDAQ:GTLS).

Chart Industries, Inc. (NASDAQ:GTLS)’s stock has plunged by 43% in the first nine months and investors should pay attention to a decrease in enthusiasm from smart money of late. GTLS was in 14 hedge funds’ portfolios at the end of September, compared to 21 funds in our database with GTLS holdings at the end of the previous quarter. At the end of this article we will also compare GTLS to other stocks including Novadaq Technologies Inc. (NASDAQ:NVDQ), Monster Worldwide, Inc. (NYSE:MWW), and Entravision Communication (NYSE:EVC) to get a better sense of its popularity.

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To most investors, hedge funds are seen as worthless, old financial tools of the past. While there are over 8000 funds trading at present, Our experts choose to focus on the masters of this club, about 700 funds. These investment experts administer the majority of all hedge funds’ total capital, and by following their highest performing picks, Insider Monkey has deciphered a number of investment strategies that have historically outperformed the market. 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.

Keeping this in mind, we’re going to view the recent action encompassing Chart Industries, Inc. (NASDAQ:GTLS).

How have hedgies been trading Chart Industries, Inc. (NASDAQ:GTLS)?

At the end of the third quarter, a total of 14 of the hedge funds tracked by Insider Monkey were bullish on this stock, a decline of 33% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a few key hedge fund managers who were upping their stakes significantly (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Israel Englander’s Millennium Management has the biggest position in Chart Industries, Inc. (NASDAQ:GTLS), worth close to $20 million, amounting to less than 0.1%% of its total 13F portfolio. Coming in second is Pzena Investment Management, led by Richard S. Pzena, holding a $10.3 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other members of the smart money with similar optimism include Ken Griffin’s Citadel Investment Group and Glenn Russell Dubin’s Highbridge Capital Management.

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