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Should You Buy Cohen & Steers, Inc. (CNS)?

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A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Cohen & Steers, Inc. (NYSE:CNS) .

Cohen & Steers, Inc. (NYSE:CNS) investors should pay attention to an increase in hedge fund sentiment in recent months. CNS was in 9 hedge funds’ portfolios at the end of September. There were 8 hedge funds in our database with CNS holdings 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 Surgical Care Affiliates Inc (NASDAQ:SCAI), MGE Energy, Inc. (NASDAQ:MGEE), and Great Western Bancorp Inc (NYSE:GWB) to gather more data points.

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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Now, let’s check out the recent action surrounding Cohen & Steers, Inc. (NYSE:CNS).

What does the smart money think about Cohen & Steers, Inc. (NYSE:CNS)?

At the end of the third quarter, a total of 9 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 13% from one quarter earlier. By comparison, 14 hedge funds held shares or bullish call options in CNS heading into this year. With the smart money’s capital changing hands, there exists an “upper tier” of key hedge fund managers who were upping their holdings substantially (or already accumulated large positions).

HedgeFundSentimentChart

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Mario Gabelli’s GAMCO Investors has the most valuable position in Cohen & Steers, Inc. (NYSE:CNS), worth close to $47.4 million. The second largest stake is held by Renaissance Technologies, one of the largest hedge funds in the world, which holds a $21 million position. Some other professional money managers with similar optimism encompass Chuck Royce’s Royce & Associates, Andrew Sandler’s Sandler Capital Management and Israel Englander’s Millennium Management. We should note that none of these elite funds are among our list of the 100 best performing elite funds which is based on the performance of their 13F long positions in non-microcap stocks.

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