Smart Money Ownership of Columbia Sportswear Company (COLM) Hits Low Point

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Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that sold off their entire stakes in the stock during the third quarter. Intriguingly, Joel Greenblatt’s Gotham Asset Management sold off the biggest stake of all the hedgies followed by Insider Monkey, worth close to $8.5 million in stock. Robert Pohly’s fund, Samlyn Capital, also dropped its stock, about $4.2 million worth.

Let’s check out hedge fund activity in other stocks similar to Columbia Sportswear Company (NASDAQ:COLM). We will take a look at Embraer SA (ADR) (NYSE:ERJ), Teradyne, Inc. (NYSE:TER), Dunkin Brands Group Inc (NASDAQ:DNKN), and Arris Group, Inc. (NASDAQ:ARRS). This group of stocks’ market values match COLM’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ERJ 11 47041 1
TER 24 348445 3
DNKN 20 557044 -1
ARRS 39 1254065 3

As you can see these stocks had an average of 24 hedge funds with bullish positions and the average amount invested in these stocks was $552 million. That figure was $108 million in COLM’s case. Arris Group, Inc. (NASDAQ:ARRS) is the most popular stock in this table. On the other hand Embraer SA (ADR) (NYSE:ERJ) is the least popular one with only 11 bullish hedge fund positions. Columbia Sportswear Company (NASDAQ:COLM) is not the least popular stock in this group but hedge fund interest is still below average and it doesn’t have a lot of money invested in it. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ARRS might be a better candidate to consider taking a long position in.

Disclosure: None

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