Does PVH Corp (NYSE:PVH) represent a good buying opportunity at the moment? Let’s briefly check the hedge fund sentiment towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on research activities, so it is no wonder why they tend to generate millions in profits each year. It is also true that some hedge fund players fail unconceivably on some occasions, but their stock picks have been generating superior risk-adjusted returns on average over the years.
Is PVH Corp (NYSE:PVH) a sound investment right now? Investors who are in the know are reducing their bets on the stock. The number of bullish hedge fund bets were cut by 1 recently. PVH was in 32 hedge funds’ portfolios at the end of the third quarter of 2016. There were 33 hedge funds in our database with PVH 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 Marine Harvest ASA (NYSE:MHG), Affiliated Managers Group, Inc. (NYSE:AMG), and Unum Group (NYSE:UNM) to gather more data points.
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How are hedge funds trading PVH Corp (NYSE:PVH)?
Heading into the fourth quarter of 2016, a total of 32 of the hedge funds tracked by Insider Monkey were long this stock, a 3% dip from one quarter earlier, the second straight quarter with a slight decline in hedge fund ownership of PVH. With the smart money’s sentiment swirling, there exists a select group of notable hedge fund managers who were upping their holdings significantly (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, D E Shaw has the largest position in PVH Corp (NYSE:PVH), worth close to $156.9 million. Sitting at the No. 2 spot is Balyasny Asset Management, led by Dmitry Balyasny, holding a $129.5 million position. Other peers that are bullish include Cliff Asness’ AQR Capital Management, Leon Cooperman’s Omega Advisors, and Phill Gross and Robert Atchinson’s Adage Capital Management.