Now, according to many investors, hedge funds are seen as useless, old investment tools of a forgotten age. Although there are In excess of 8,000 hedge funds in operation currently, this site focuses on the aristocrats of this club, around 525 funds. Analysts calculate that this group oversees the majority of the hedge fund industry’s total capital, and by monitoring their best equity investments, we’ve unsheathed a number of investment strategies that have historically outpaced the market. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have outclassed the S&P 500 index by 33 percentage points in 11 months (find the details here).
Just as useful, optimistic insider trading activity is another way to analyze the stock market universe. Just as you’d expect, there are a number of stimuli for an upper level exec to drop shares of his or her company, but just one, very obvious reason why they would behave bullishly. Many empirical studies have demonstrated the impressive potential of this strategy if you know where to look (learn more here).
Furthermore, let’s study the latest info about Republic Services, Inc. (NYSE:RSG).
How are hedge funds trading Republic Services, Inc. (NYSE:RSG)?
Heading into Q3, a total of 25 of the hedge funds we track were bullish in this stock, a change of 9% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were upping their holdings significantly.
When using filings from the hedgies we track, Adage Capital Management, managed by Phill Gross and Robert Atchinson, holds the most valuable position in Republic Services, Inc. (NYSE:RSG). Adage Capital Management has a $89.5 million position in the stock, comprising 0.3% of its 13F portfolio. Coming in second is GAMCO Investors, managed by Mario Gabelli, which held a $82.1 million position; the fund has 0.5% of its 13F portfolio invested in the stock. Some other hedge funds that hold long positions include D. E. Shaw’s D E Shaw, Michael Larson’s Bill & Melinda Gates Foundation Trust and Glenn Russell Dubin’s Highbridge Capital Management.
Now, certain money managers were leading the bulls’ herd. Adage Capital Management, managed by Phill Gross and Robert Atchinson, created the most valuable position in Republic Services, Inc. (NYSE:RSG). Adage Capital Management had 89.5 million invested in the company at the end of the quarter. Mario Gabelli’s GAMCO Investors also made a $82.1 million investment in the stock during the quarter. The following funds were also among the new RSG investors: D. E. Shaw’s D E Shaw, Michael Larson’s Bill & Melinda Gates Foundation Trust, and Glenn Russell Dubin’s Highbridge Capital Management.
What have insiders been doing with Republic Services, Inc. (NYSE:RSG)?
Legal insider trading, particularly when it’s bullish, is most useful when the company in focus has seen transactions within the past six months. Over the latest half-year time frame, Republic Services, Inc. (NYSE:RSG) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also examine the relationship between both of these indicators in other stocks similar to Republic Services, Inc. (NYSE:RSG). These stocks are Clean Harbors Inc (NYSE:CLH), Waste Connections, Inc. (NYSE:WCN), Veolia Environnement SA (ADR) (NYSE:VE), Waste Management, Inc. (NYSE:WM), and Stericycle Inc (NASDAQ:SRCL). This group of stocks are in the waste management industry and their market caps are closest to RSG’s market cap.