Hedge funds and other investment firms run by legendary investors like Israel Englander and Ray Dalio are entrusted to manage billions of dollars of accredited investors’ money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to invest a greater amount of their resources in small-cap stocks than big brokerage houses, and this is often where they generate their outperformance, which is why we pay particular attention to their best ideas in this space.
Is Remy International Inc (NASDAQ:REMY) a buy right now? The best stock pickers are in a pessimistic mood. The number of long hedge fund positions went down by 2 lately. 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 Nantkwest Inc (NASDAQ:NK), PIMCO Corporate&Income Opportunity Fund (NYSE:PTY), and Stepan Company (NYSE:SCL) to gather more data points.
To the average investor there are a lot of formulas investors employ to assess their holdings. A pair of the less utilized formulas are hedge fund and insider trading interest. We have shown that, historically, those who follow the best picks of the elite fund managers can outpace their index-focused peers by a superb amount (see the details here).
Keeping this in mind, we’re going to take a gander at the fresh action encompassing Remy International Inc (NASDAQ:REMY).
What does the smart money think about Remy International Inc (NASDAQ:REMY)?
At Q3’s end, a total of 20 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -9% from one quarter earlier. With hedgies’ capital changing hands, there exists a few noteworthy hedge fund managers who were upping their stakes significantly (or already accumulated large positions).
Of the funds tracked by Insider Monkey, H Partners Management, managed by Rehan Jaffer, holds the number one position in Remy International Inc (NASDAQ:REMY). H Partners Management has an $81.9 million position in the stock, comprising 6.1% of its 13F portfolio. On H Partners Management’s heels is Magnetar Capital, managed by Alec Litowitz and Ross Laser, which holds an $41.5 million position; 1.1% of its 13F portfolio is allocated to the company. Other hedge funds and institutional investors with similar optimism comprise Robert Emil Zoellner’s Alpine Associates, Paul Glazer’s Glazer Capital and John Orrico’s Water Island Capital.