Is Core Laboratories N.V. (NYSE:CLB) worth your attention right now? The smart money is getting more bullish. The number of bullish hedge fund positions advanced by 1 recently.
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Now, we’re going to take a peek at the key action surrounding Core Laboratories N.V. (NYSE:CLB).
What have hedge funds been doing with Core Laboratories N.V. (NYSE:CLB)?
At the end of the first quarter, a total of 14 of the hedge funds we track were bullish in this stock, a change of 8% from one quarter earlier. With hedgies’ sentiment swirling, there exists a select group of key hedge fund managers who were upping their holdings meaningfully.
When looking at the hedgies we track, William von Mueffling’s Cantillon Capital Management had the largest position in Core Laboratories N.V. (NYSE:CLB), worth close to $102.8 million, accounting for 3.3% of its total 13F portfolio. Sitting at the No. 2 spot is Jeffrey Vinik of Vinik Asset Management, with a $21.5 million position; 0.6% of its 13F portfolio is allocated to the company. Other hedgies that are bullish include Andrew Hall’s Astenbeck Capital Management, D. E. Shaw’s D E Shaw and Jim Simons’s Renaissance Technologies.
Consequently, key hedge funds were leading the bulls’ herd. Millennium Management, managed by Israel Englander, established the largest position in Core Laboratories N.V. (NYSE:CLB). Millennium Management had 2.4 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also initiated a $1.1 million position during the quarter. The following funds were also among the new CLB investors: Mike Vranos’s Ellington and Tom Gayner’s Markel Gayner Asset Management.
What do corporate executives and insiders think about Core Laboratories N.V. (NYSE:CLB)?
Insider trading activity, especially when it’s bullish, is best served when the company in question has experienced transactions within the past half-year. Over the last six-month time period, Core Laboratories N.V. (NYSE:CLB) has seen zero unique insiders purchasing, and 2 insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Core Laboratories N.V. (NYSE:CLB). These stocks are Superior Energy Services, Inc. (NYSE:SPN), Weatherford International Ltd (NYSE:WFT), Oil States International, Inc. (NYSE:OIS), MDU Resources Group Inc (NYSE:MDU), and Oceaneering International (NYSE:OII). This group of stocks are the members of the oil & gas equipment & services industry and their market caps are similar to CLB’s market cap.