After several tireless days we have finished crunching the numbers from the more than 700 13F filings issued by the elite hedge funds and other investment firms that we track at Insider Monkey, which disclosed those firms’ equity portfolios as of September 30. The results of that effort will be put on display in this article, as we share valuable insight into the smart money sentiment towards Nabors Industries Ltd. (NYSE:NBR).
Is Nabors Industries Ltd. a healthy stock for your portfolio? The smart money is taking a pessimistic view. The number of long hedge fund positions were trimmed by 4 recently. NBR was in 22 hedge funds’ portfolios at the end of September. There were 26 hedge funds in our database with NBR positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Tallgrass Energy GP LP (NYSE:TEGP), Healthcare Trust Of America Inc (NYSE:HTA), and bluebird bio Inc (NASDAQ:BLUE) to gather more data points.
To the average investor, there are plenty of signals shareholders employ to value their holdings. Some of the less utilized signals are hedge fund and insider trading signals. Our experts have shown that, historically, those who follow the top picks of the best fund managers can outclass the market by a solid amount (see the details here).
With all of this in mind, we’re going to take a peek at the new action regarding Nabors Industries Ltd. (NYSE:NBR).
What does the smart money think about Nabors Industries Ltd. (NYSE:NBR)?
At the end of the third quarter, a total of 22 of the hedge funds tracked by Insider Monkey were long this stock, a change of -15% from the previous quarter. With hedgies’ capital changing hands, there exist a few noteworthy hedge fund managers who were upping their holdings significantly (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Citadel Investment Group, managed by Ken Griffin, holds the number one position in Nabors Industries Ltd. (NYSE:NBR). Citadel Investment Group has a $100.7 million position in the stock, comprising 0.1% of its 13F portfolio. On Citadel Investment Group’s heels is AQR Capital Management, led by Cliff Asness, holding a $54.7 million position; 0.1% of its 13F portfolio is allocated to the stock. Other hedge funds and institutional investors that hold long positions consist of Jim Simons’s Renaissance Technologies, David Costen Haley’s HBK Investments, and Ken Griffin’s Citadel Investment Group.