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Is Core Laboratories N.V. (CLB) A Good Stock to Buy?

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Is Core Laboratories N.V. (NYSE:CLB) worth your attention right now? The smart money is becoming more confident. The number of bullish hedge fund bets went up by 1 in recent months. CLB was in 22 hedge funds’ portfolios at the end of September. There were 21 hedge funds in our database with CLB holdings at the end of the previous quarter. At the end of this article we will also compare CLB to other stocks including Douglas Emmett, Inc. (NYSE:DEI), Brown & Brown, Inc. (NYSE:BRO), and Service Corporation International (NYSE:SCI) to get a better sense of its popularity.

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What does the smart money think about Core Laboratories N.V. (NYSE:CLB)?

At the end of the third quarter, a total of 22 of the hedge funds tracked by Insider Monkey were long this stock, a 5% boost from the second quarter of 2016, as smart money ownership breaks through to a yearly high. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were increasing their holdings significantly (or already accumulated large positions).

HedgeFundSentimentChart

According to Insider Monkey’s hedge fund database, Ariel Investments, managed by John W. Rogers, holds the largest position in Core Laboratories N.V. (NYSE:CLB). Ariel Investments has a $29.5 million position in the stock. Coming in second is Renaissance Technologies, led by Jim Simons, holding a $24.9 million position. Remaining hedge funds and institutional investors with similar optimism comprise Craig C. Albert’s Sheffield Asset Management, Tom Gayner’s Markel Gayner Asset Management and Cliff Asness’ AQR Capital Management.

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