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Should You Buy Taubman Centers, Inc. (TCO)?

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At Insider Monkey, we pore over the filings of more than 700 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we’ve gathered as a result gives us access to a wealth of collective knowledge based on these firms’ portfolio holdings as of September 30. In this article, we will use that wealth of knowledge to determine whether or not Taubman Centers, Inc. (NYSE:TCO) makes for a good investment right now.

Overall, Taubman Centers, Inc. (NYSE:TCO) has seen an increase in enthusiasm from smart money of late. The company was included in the equity portfolios of 19 funds tracked by Insider Monkey at the end of September. There had been 18 hedge funds in our database with TCO positions at the end of the previous quarter. However, 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 Toll Brothers Inc (NYSE:TOL), Gentex Corporation (NASDAQ:GNTX), and IAC/InterActiveCorp (NASDAQ:IAC) to gather more data points.

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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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Keeping this in mind, we’re going to take a look at the new action regarding Taubman Centers, Inc. (NYSE:TCO).

Hedge fund activity in Taubman Centers, Inc. (NYSE:TCO)

Heading into the fourth quarter of 2016, a total of 19 of the hedge funds tracked by Insider Monkey were bullish on Taumban Centers, up by 6% from one quarter earlier. On the other hand, there were a total of 20 hedge funds with a bullish position in TCO at the beginning of this year. So, let’s find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

HedgeFundSentimentChart

Of the funds tracked by Insider Monkey, John Khoury’s Long Pond Capital has the biggest position in Taubman Centers, Inc. (NYSE:TCO), worth close to $193.3 million, amounting to 9% of its total 13F portfolio. On Long Pond Capital’s heels is AEW Capital Management, led by Jeffrey Furber, holding a $117.1 million position; the fund has 2.4% of its 13F portfolio invested in the stock. Other peers that are bullish consist of Jonathan Litt’s Land & Buildings Investment Management, Jim Simons’ Renaissance Technologies and D. E. Shaw’s D E Shaw. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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