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|
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.