Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Is Haverty Furniture Companies, Inc. (HVT) Going to Burn These Hedge Funds?

Page 1 of 2

To many market players, hedge funds are viewed as bloated, old financial vehicles of a period lost to current times. Although there are In excess of 8,000 hedge funds in operation currently, Insider Monkey looks at the masters of this group, close to 525 funds. It is widely held that this group controls the lion’s share of the smart money’s total capital, and by watching their highest quality stock picks, we’ve discovered a few investment strategies that have historically outstripped the S&P 500. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points a year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have beaten the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).

Just as crucial, positive insider trading activity is a second way to look at the marketplace. Obviously, there are lots of motivations for a corporate insider to downsize shares of his or her company, but just one, very simple reason why they would behave bullishly. Many academic studies have demonstrated the impressive potential of this strategy if piggybackers know what to do (learn more here).

What’s more, it’s important to examine the recent info surrounding Haverty Furniture Companies, Inc. (NYSE:HVT).

How have hedgies been trading Haverty Furniture Companies, Inc. (NYSE:HVT)?

Heading into Q3, a total of 12 of the hedge funds we track held long positions in this stock, a change of 20% from the first quarter. With hedge funds’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were increasing their holdings meaningfully.

Haverty Furniture Companies, Inc. (NYSE:HVT)When using filings from the hedgies we track, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Haverty Furniture Companies, Inc. (NYSE:HVT). Renaissance Technologies has a $7.5 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Royce & Associates, managed by Chuck Royce, which held a $4.4 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other hedgies that are bullish include Ken Griffin’s Citadel Investment Group, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors and D. E. Shaw’s D E Shaw.

As industrywide interest increased, certain bigger names have been driving this bullishness. Renaissance Technologies, managed by Jim Simons, initiated the biggest position in Haverty Furniture Companies, Inc. (NYSE:HVT). Renaissance Technologies had 7.5 million invested in the company at the end of the quarter. Chuck Royce’s Royce & Associates also made a $4.4 million investment in the stock during the quarter. The other funds with brand new HVT positions are Ken Griffin’s Citadel Investment Group, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and D. E. Shaw’s D E Shaw.

Insider trading activity in Haverty Furniture Companies, Inc. (NYSE:HVT)

Insider buying made by high-level executives is most useful when the company in focus has experienced transactions within the past half-year. Over the latest 180-day time period, Haverty Furniture Companies, Inc. (NYSE:HVT) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll check out the relationship between both of these indicators in other stocks similar to Haverty Furniture Companies, Inc. (NYSE:HVT). These stocks are Williams-Sonoma, Inc. (NYSE:WSM), Pier 1 Imports, Inc. (NYSE:PIR), Restoration Hardware Holdings Inc (NYSE:RH), Kirkland’s, Inc. (NASDAQ:KIRK), and Gordmans Stores, Inc. (NASDAQ:GMAN). All of these stocks are in the home furnishing stores industry and their market caps resemble HVT’s market cap.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!