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.

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.