Should Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) investors track the following data?
In the financial world, there are many methods shareholders can use to analyze publicly traded companies. A duo of the best are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top investment managers can outclass the market by a solid margin (see just how much).
Just as necessary, bullish insider trading sentiment is a second way to analyze the world of equities. As the old adage goes: there are many reasons for an executive to downsize shares of his or her company, but only one, very obvious reason why they would buy. Many academic studies have demonstrated the impressive potential of this method if “monkeys” understand where to look (learn more here).
What’s more, let’s discuss the newest info surrounding Calumet Specialty Products Partners, L.P (NASDAQ:CLMT).
How are hedge funds trading Calumet Specialty Products Partners, L.P (NASDAQ:CLMT)?
Heading into Q3, a total of 7 of the hedge funds we track were bullish in this stock, a change of 0% from the previous quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their stakes meaningfully.
Out of the hedge funds we follow, Appaloosa Management LP, managed by David Tepper, holds the biggest position in Calumet Specialty Products Partners, L.P (NASDAQ:CLMT). Appaloosa Management LP has a $15.9 million position in the stock, comprising 0.2% of its 13F portfolio. Coming in second is Renaissance Technologies, managed by Jim Simons, which held a $13.3 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedgies with similar optimism include Matthew Hulsizer’s PEAK6 Capital Management, Paul Marshall and Ian Wace’s Marshall Wace LLP and Matthew Hulsizer’s PEAK6 Capital Management.
What do corporate executives and insiders think about Calumet Specialty Products Partners, L.P (NASDAQ:CLMT)?
Legal insider trading, particularly when it’s bullish, is particularly usable when the primary stock in question has seen transactions within the past half-year. Over the latest half-year time period, Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to Calumet Specialty Products Partners, L.P (NASDAQ:CLMT). These stocks are BP Prudhoe Bay Royalty Trust (NYSE:BPT), Western Refining, Inc. (NYSE:WNR), World Fuel Services Corporation (NYSE:INT), Northern Tier Energy LP (NYSE:NTI), and Delek US Holdings, Inc. (NYSE:DK). This group of stocks are in the oil & gas refining & marketing industry and their market caps are similar to CLMT’s market cap.