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Just as crucial, positive insider trading activity is another way to look at the stock market universe. Just as you’d expect, there are many motivations for a bullish insider to get rid of shares of his or her company, but just one, very clear reason why they would behave bullishly. Several empirical studies have demonstrated the impressive potential of this strategy if piggybackers know where to look (learn more here).
What’s more, it’s important to examine the latest info about Tupperware Brands Corporation (NYSE:TUP).
How are hedge funds trading Tupperware Brands Corporation (NYSE:TUP)?
In preparation for the third quarter, a total of 16 of the hedge funds we track held long positions in this stock, a change of 23% from one quarter earlier. With the smart money’s capital changing hands, there exists a select group of noteworthy hedge fund managers who were upping their stakes substantially.
Out of the hedge funds we follow, Cliff Asness’s AQR Capital Management had the biggest position in Tupperware Brands Corporation (NYSE:TUP), worth close to $51.4 million, accounting for 0.2% of its total 13F portfolio. The second largest stake is held by Renaissance Technologies, managed by Jim Simons, which held a $38.8 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Some other peers that hold long positions include Joel Greenblatt’s Gotham Asset Management, and D. E. Shaw’s D E Shaw.
With a general bullishness amongst the titans, specific money managers have been driving this bullishness. AQR Capital Management, managed by Cliff Asness, created the most outsized position in Tupperware Brands Corporation (NYSE:TUP). AQR Capital Management had 51.4 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $38.8 million position during the quarter. The other funds with brand new TUP positions are Joel Greenblatt’s Gotham Asset Management, Matthew Hulsizer’s PEAK6 Capital Management, and D. E. Shaw’s D E Shaw.
How have insiders been trading Tupperware Brands Corporation (NYSE:TUP)?
Bullish insider trading is at its handiest when the company in question has experienced transactions within the past six months. Over the latest 180-day time frame, Tupperware Brands Corporation (NYSE:TUP) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Tupperware Brands Corporation (NYSE:TUP). These stocks are AptarGroup, Inc. (NYSE:ATR), Bemis Company, Inc. (NYSE:BMS), Sealed Air Corp (NYSE:SEE), Owens-Illinois Inc (NYSE:OI), and Packaging Corp Of America (NYSE:PKG). This group of stocks are the members of the packaging & containers industry and their market caps are similar to TUP’s market cap.