The Goodyear Tire & Rubber Company (NASDAQ:GT) was in 29 hedge funds’ portfolio at the end of December. GT shareholders have witnessed an increase in hedge fund sentiment lately. There were 27 hedge funds in our database with GT positions at the end of the previous quarter.
At the moment, there are dozens of gauges shareholders can use to monitor Mr. Market. A couple of the most underrated are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best money managers can trounce the market by a very impressive amount (see just how much).
Equally as important, positive insider trading sentiment is a second way to break down the world of equities. There are plenty of incentives for a corporate insider to cut shares of his or her company, but only one, very clear reason why they would buy. Several academic studies have demonstrated the useful potential of this strategy if “monkeys” understand where to look (learn more here).
Now, we’re going to take a glance at the key action surrounding The Goodyear Tire & Rubber Company (NASDAQ:GT).
What have hedge funds been doing with The Goodyear Tire & Rubber Company (NASDAQ:GT)?
In preparation for this year, a total of 29 of the hedge funds we track were bullish in this stock, a change of 7% from the previous quarter. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were increasing their holdings substantially.
According to our comprehensive database, Appaloosa Management LP, managed by David Tepper, holds the largest position in The Goodyear Tire & Rubber Company (NASDAQ:GT). Appaloosa Management LP has a $198 million position in the stock, comprising 4.3% of its 13F portfolio. Sitting at the No. 2 spot is Samlyn Capital, managed by Robert Pohly, which held a $106 million position; the fund has 3.7% of its 13F portfolio invested in the stock. Some other hedge funds with similar optimism include Steven Cohen’s SAC Capital Advisors, D. E. Shaw’s D E Shaw and Cliff Asness’s AQR Capital Management.
With a general bullishness amongst the heavyweights, some big names have been driving this bullishness. Caxton Associates LP, managed by Bruce Kovner, established the largest position in The Goodyear Tire & Rubber Company (NASDAQ:GT). Caxton Associates LP had 8 million invested in the company at the end of the quarter. Michael Messner’s Seminole Capital (Investment Mgmt) also initiated a $5 million position during the quarter. The following funds were also among the new GT investors: Ray Dalio’s Bridgewater Associates, Curtis Macnguyen’s Ivory Capital (Investment Mgmt), and Noam Gottesman’s GLG Partners.
What have insiders been doing with The Goodyear Tire & Rubber Company (NASDAQ:GT)?
Insider buying is at its handiest when the company in focus has experienced transactions within the past six months. Over the last half-year time period, The Goodyear Tire & Rubber Company (NASDAQ:GT) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
With the returns demonstrated by our tactics, retail investors must always keep an eye on hedge fund and insider trading sentiment, and The Goodyear Tire & Rubber Company (NASDAQ:GT) is an important part of this process.
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