Is Fifth & Pacific Companies Inc (NYSE:FNP) ready to raly soon? Investors who are in the know are selling. The number of bullish hedge fund bets shrunk by 2 lately.
In the financial world, there are tons of methods market participants can use to monitor the equity markets. Two of the most innovative 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 top money managers can beat the S&P 500 by a healthy amount (see just how much).
Equally as key, optimistic insider trading activity is a second way to parse down the financial markets. As the old adage goes: there are a number of reasons for a bullish insider to cut shares of his or her company, but just one, very simple reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the market-beating potential of this method if piggybackers know where to look (learn more here).
Consequently, let’s take a gander at the key action regarding Fifth & Pacific Companies Inc (NYSE:FNP).
What does the smart money think about Fifth & Pacific Companies Inc (NYSE:FNP)?
At year’s end, a total of 20 of the hedge funds we track held long positions in this stock, a change of -9% from one quarter earlier. With hedgies’ capital changing hands, there exists a few key hedge fund managers who were upping their holdings considerably.
According to our comprehensive database, Fisher Asset Management, managed by Ken Fisher, holds the largest position in Fifth & Pacific Companies Inc (NYSE:FNP). Fisher Asset Management has a $61 million position in the stock, comprising 0.2% of its 13F portfolio. Sitting at the No. 2 spot is Samlyn Capital, managed by Robert Pohly, which held a $58 million position; the fund has 2% of its 13F portfolio invested in the stock. Some other peers that are bullish include James Dinan’s York Capital Management, Don Morgan’s Brigade Capital and Barry Rosenstein’s JANA Partners.
Seeing as Fifth & Pacific Companies Inc (NYSE:FNP) has faced a declination in interest from the smart money, it’s safe to say that there was a specific group of hedgies that elected to cut their positions entirely in Q4. It’s worth mentioning that Jim Simons’s Renaissance Technologies sold off the largest investment of the 450+ funds we watch, totaling close to $5 million in stock. Paul Tudor Jones’s fund, Tudor Investment Corp, also dumped its stock, about $5 million worth. These moves are intriguing to say the least, as aggregate hedge fund interest dropped by 2 funds in Q4.
What do corporate executives and insiders think about Fifth & Pacific Companies Inc (NYSE:FNP)?
Insider trading activity, especially when it’s bullish, is best served when the company in question has seen transactions within the past six months. Over the last 180-day time frame, Fifth & Pacific Companies Inc (NYSE:FNP) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
With the results shown by our studies, everyday investors must always monitor hedge fund and insider trading sentiment, and Fifth & Pacific Companies Inc (NYSE:FNP) is no exception.
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