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Carlisle Companies, Inc. (CSL): Are Hedge Funds Right About This Stock?

Intriguingly, Israel Englander’s Millennium Management dropped the biggest position of the 700 funds monitored by Insider Monkey, totaling an estimated $29 million in stock. Clint Carlson’s fund, Carlson Capital, also sold off its stock, about $11.4 million worth. These moves are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s also examine hedge fund activity in other stocks similar to Carlisle Companies, Inc. (NYSE:CSL). These stocks are Marine Harvest ASA (NYSE:MHG), Leggett & Platt, Inc. (NYSE:LEG), Brookfield Property Partners LP (NYSE:BPY), and Zions Bancorporation (NASDAQ:ZION). All of these stocks’ market caps are similar to CSL’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
MHG 4 7008 0
LEG 23 133339 11
BPY 7 9826 2
ZION 32 551496 -4

As you can see these stocks had an average of 16.5 hedge funds with bullish positions and the average amount invested in these stocks was $175 million. That figure was $173 million in CSL’s case. Zions Bancorporation (NASDAQ:ZION) is the most popular stock in this table. On the other hand Marine Harvest ASA (NYSE:MHG) is the least popular one with only 4 bullish hedge fund positions. Carlisle Companies, Inc. (NYSE:CSL) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ZION might be a better candidate to consider a long position.

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