Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Why Are These Four Stocks Declining on Monday?

Page 1 of 2

Major stock indices inched down on Monday amid M&A-related and macroeconomic news and ahead of the two-day Fed meeting. Among the decliners are four stocks sliding on Monday on the back of different developments, including PGT, Inc. (NASDAQ:PGTI)Cirrus Logic, Inc. (NASDAQ:CRUS)Sprouts Farmers Market Inc (NASDAQ:SFM), and Helix Energy Solutions Group Inc (NYSE:HLX). Let’s take a closer look at what sent them down today and what the smart money sentiment is towards them.

Wall Street Stocks Market Insider Trading

Rawpixel /

At Insider Monkey our main focus is to study hedge fund sentiment, because we believe that this metric can suggest whether or not a stock represents a good trading opportunity for the long term. Extensive backtests we conducted that covered the period between 1999 and 2012 showed that imitating some of the hedge funds’ long picks can generate substantial returns, despite the collective average underperformance of the industry and the delays in filings. For example, the 15 most popular small-cap stocks among hedge funds, which represent the focus of our investment strategy, have returned 102% since August 2012 and outperformed the S&P 500 ETF (SPY) by around 53 percentage points (see more details here).

PGT, Inc. (NASDAQ:PGTI)‘s stock has slid by over 21% amid the release of the new home sales data for September, released earlier today. The sales drop comes after two straight months of increases and amounted to 11.5%, to 468,000 units on a seasonally-adjusted annual rate. This represented the lowest homes sales since November 2014, and has offset the bullish sentiment towards the sector. PGT, Inc. (NASDAQ:PGTI) is directly related to the sector, as it is engaged in the manufacturing and distribution of residential windows and doors. Also earlier today, Dougherty & Co downgraded the stock to ‘Neutral’ from ‘Buy’. PGT, Inc. is also not very popular among the funds we track, since only 18 out of over 730 such funds reported long positions equal to around 15% of the company as of the end of June. One of these funds was Jim Simons‘ Renaissance Technologies, which owned 3.10 million shares at the end of the second quarter.

Follow Pgt Inc. (NASDAQ:PGTI)
Trade (NASDAQ:PGTI) Now!

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) have lost 13% today, two days before the company is scheduled to release its results for the previous quarter. Today’s decline comes on the back of investors’ concerns that the company will not be able to meet earnings expectations. The concerns are not unjustified, since earlier today, one of Cirrus Logic, Inc. (NASDAQ:CRUS)’s peers in the semiconductor industry reported very weak financial results for the third quarter. The results also sparked a sell-off in Apple Inc. (NASDAQ:AAPL)’s stock a day before its own results, since Dialog, as a supplier, has a substantial part of its business tied to Apple. According to Cirrus Logic’s most recent 10-Q report, the company had around 62% of its total sales through Apple Inc. (NASDAQ:AAPL) in its first quarter of fiscal 2016. At the end of June, 25 funds from our database held long positions in Cirrus Logic, equal to 9.50% of its outstanding stock.

Follow Cirrus Logic Inc (NASDAQ:CRUS)
Trade (NASDAQ:CRUS) Now!

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

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 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!