Is Tenneco Inc (NYSE:TEN) Going to Burn These Hedge Funds?

Is Tenneco Inc (NYSE:TEN) the right pick for your portfolio? Hedge funds are in a bullish mood. The number of bullish hedge fund bets went up by 1 in recent months.

To the average investor, there are plenty of indicators shareholders can use to track Mr. Market. A pair of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top money managers can outpace the broader indices by a healthy margin (see just how much).

Just as key, bullish insider trading sentiment is another way to parse down the marketplace. Just as you’d expect, there are plenty of reasons for a bullish insider to cut shares of his or her company, but just one, very simple reason why they would behave bullishly. Various empirical studies have demonstrated the impressive potential of this tactic if investors know what to do (learn more here).

With these “truths” under our belt, we’re going to take a glance at the latest action surrounding Tenneco Inc (NYSE:TEN).

Hedge fund activity in Tenneco Inc (NYSE:TEN)

At year’s end, a total of 18 of the hedge funds we track were long in this stock, a change of 6% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were upping their holdings significantly.

When looking at the hedgies we track, Iridian Asset Management, managed by David Cohen and Harold Levy, holds the biggest position in Tenneco Inc (NYSE:TEN). Iridian Asset Management has a $105 million position in the stock, comprising 1.7% of its 13F portfolio. The second largest stake is held by Mario Gabelli of GAMCO Investors, with a $36 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Remaining peers with similar optimism include Phill Gross and Robert Atchinson’s Adage Capital Management, Ric Dillon’s Diamond Hill Capital and Steven Cohen’s SAC Capital Advisors.

As industrywide interest jumped, key money managers were leading the bulls’ herd. Adage Capital Management, managed by Phill Gross and Robert Atchinson, assembled the most valuable position in Tenneco Inc (NYSE:TEN). Adage Capital Management had 33 million invested in the company at the end of the quarter. David Tepper’s Appaloosa Management LP also initiated a $4 million position during the quarter. The other funds with new positions in the stock are Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Israel Englander’s Catapult Capital Management, and SAC Subsidiary’s Sigma Capital Management.

What do corporate executives and insiders think about Tenneco Inc (NYSE:TEN)?

Bullish insider trading is most useful when the company we’re looking at has experienced transactions within the past 180 days. Over the last six-month time frame, Tenneco Inc (NYSE:TEN) has experienced zero unique insiders buying, and 12 insider sales (see the details of insider trades here).

With the results shown by our tactics, everyday investors must always monitor hedge fund and insider trading sentiment, and Tenneco Inc (NYSE:TEN) is no exception.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

Subscribe

Enter your email:

Delivered by FeedBurner

X

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!